Gold price today 22.9: World gold recovers, domestic gold maintains price range

SJC gold bar price

As of 9:00 AM, Saigon SJC Jewelry Company listed SJC gold bar prices at 143.6-146.6 million VND/tael (buying - selling), unchanged compared to yesterday's closing session. The buying - selling difference is at 3 million VND/tael.

Similarly, DOJI listed SJC gold price at the threshold of 143.6-146.6 million VND/tael (buying - selling), unchanged compared to the previous trading session closing. The buying - selling difference is at 3 million VND/tael.

Phu Quy listed the price of SJC gold bars at the threshold of 143.6-146.6 million VND/tael (buying - selling), keeping the price range unchanged. The buying - selling difference is at 3 million VND/tael.

9999 gold ring price

At the same time, Saigon Jewelry Company SJC listed the price of gold rings at the threshold of 143.1 - 146.1 million VND/tael (buying - selling). The buying - selling difference is at 3 million VND/tael.

DOJI Group listed the price of gold rings at the threshold of 142.8-146.8 million VND/tael (buying - selling), simultaneously decreasing by 800,000 VND/tael in both directions compared to the closing session yesterday. The difference between buying and selling is at 4 million VND/tael.

Phu Quy Gold and Gems Group listed the price of gold rings at the threshold of 143.6-146.6 million VND/tael (buying - selling), unchanged compared to the closing level yesterday. The buying - selling difference is at 3 million VND/tael.

World gold price

As of 9:15 am, world gold prices are listed at 4,349.2 USD/ounce.

Gold price forecast

Gold prices edged up as the decline in oil prices in recent sessions reduced the possibility that the US Federal Reserve (Fed) would continue to raise interest rates to curb inflation.

The precious yellow metal is being traded around 4,340 USD/ounce, reversing after recording its biggest weekly drop the day before. Oil prices stabilized on Tuesday after losing more than 9% in the previous four days, amid eased concerns about exports in the Middle East and renewed diplomatic efforts to end the US-Iran war.

The drop in oil prices has eased concerns about inflation, a supporting factor for gold - an asset that often benefits when interest rates are low.

Traders are also closely monitoring statements from Fed officials to look for clues about the interest rate roadmap, after a vote of agreement to raise interest rates for the first time in three years last week.

Chairman of the Chicago Fed - Mr. Austin Goolsbee - said that the US central bank cannot ignore repeated and prolonged supply shocks, and must have reactions that could cause difficulties for the economy. Chairman of the St. Louis Fed, Mr. Alberto Musalem, said that more interest rate hikes may be needed to achieve the central bank's inflation target, a target that has not been achieved in more than 5 years.

Gold is holding the price after the interest rate hike, while the decline in energy prices provides support. According to analysts, although a cycle of interest rate hikes has been reflected in prices, the general context of the precious metals market is still favorable.

Confidence in the long-term outlook for this precious metal has also boosted buying activity as prices have adjusted in recent weeks. About 50 tons of capital has flowed into gold-based ETFs since the beginning of September, marking the third consecutive month of increase.