SJC gold bar price
As of 9:00 a.m., the price of SJC gold bars was listed by DOJI Group at 81.5 - 83.5 million VND/tael (buy - sell).
Compared to the beginning of the previous trading session, gold prices at DOJI remained unchanged in both buying and selling directions.
The difference between buying and selling price of SJC gold at DOJI Group is at 2 million VND/tael.
Meanwhile, Bao Tin Minh Chau listed the price of SJC gold at 81.5 - 83.5 million VND/tael (buy - sell).
Compared to the beginning of the previous trading session, gold prices at Bao Tin Minh Chau remained unchanged in both buying and selling directions.
The difference between buying and selling price of SJC gold at Saigon Jewelry Company is at 2 million VND/tael.
9999 gold ring price
This morning, the price of 9999 Hung Thinh Vuong round gold ring at DOJI was listed at 81.45-82.50 million VND/tael (buy - sell); an increase of 1.35 VND/tael for buying and an increase of 1.3 million VND/tael for selling compared to the opening of the trading session yesterday morning.
Bao Tin Minh Chau also adjusted the price of plain round gold rings to increase to 81.58-82.48 million VND/tael (buy - sell), an increase of 1.5 million VND/tael for buying and 1.3 million VND/tael for selling compared to the opening of the trading session this morning.
In recent sessions, the price of gold rings has often fluctuated in the same direction as the world market. Investors can refer to the world market and expert opinions before making investment decisions.
World gold price
As of 8:55 a.m., the world gold price listed on Kitco was at 2,662.9 USD/ounce, up 35.2 USD/ounce compared to the beginning of the previous trading session.
Gold Price Forecast
World gold prices hit a record high despite the decline in the USD index. Recorded at 9:10 a.m. on September 25, the US Dollar Index, which measures the greenback's fluctuations against six major currencies, was at 100.007 points (down 0.15%).
Prices have risen nearly $600 an ounce, or 28 percent, since the start of the year, putting gold on track for its biggest annual gain since 2010.
Gold prices have continuously hit new highs in recent sessions after the US Federal Reserve (FED) cut interest rates by 0.5% and provided some information about future interest rate adjustments.
Investors are almost certain the Fed will cut rates by at least another 25 basis points (0.25%) at its November meeting. The probability of a 50 basis point cut is 56%.
In the physical market, the World Gold Council (WGC) said gold ETFs bought a net 3 tonnes of the precious metal last week. Most major banks, such as JPMorgan and UBS, believe that the gold rally will continue into 2025, thanks to ETF buying and expectations of a wave of global interest rate cuts.
Technical charts show gold prices are rising, which is attracting speculators to buy. According to Kitco - the precious metal received some positive news when the People's Bank of China (PBOC) cut its key interest rate to support the country's stock and real estate markets.
This is China's biggest easing move since the COVID-19 pandemic. The PBOC's easing is likely to boost demand for raw commodities, including metals, from the world's second-largest economy.
Meanwhile, military conflicts in some regions of the world continue to escalate and show no signs of cooling down. This situation is maintaining the demand for safe haven gold.
In an interview with Kitco News, Mike McGlone, senior commodity strategist at Bloomberg Intelligence, said that gold's rally stems from its historical role as a safe haven.
Gold hitting $3,000 an ounce is just a matter of time, McGlone said. He pointed out that hedge funds are positioning themselves to buy, reflecting their belief in the metal’s enduring strength: “Hedge funds are net long about 40% of gold futures.”
