SJC gold bar price
As of 9:00 a.m., the price of SJC gold bars was listed by DOJI Group at 79 - 81 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, Saigon Jewelry Company listed the price of SJC gold at 79 - 81 million VND/tael (buy - sell).
Compared to the beginning of the previous trading session, the gold price at Saigon Jewelry Company SJC 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 77.50 - 78.60 million VND/tael (buy - sell); unchanged.
Saigon Jewelry Company listed the price of gold rings at 77.3-78.6 million VND/tael (buy - sell); unchanged.
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 9:00 a.m., the world gold price listed on Kitco was at 2,496.6 USD/ounce, down 6.9 USD/ounce compared to the beginning of the previous trading session.
Gold Price Forecast
World gold prices fell amid an increase in the USD index. Recorded at 9:30 a.m. on September 2, the US Dollar Index, which measures the greenback's fluctuations against six major currencies, was at 101.650 points (up 0.03%).
Market participants will focus on employment figures this week as North American markets return from the weekend.
On Tuesday, the market will receive the US ISM manufacturing PMI for August. On Wednesday, there will be the Bank of Canada monetary policy decision and the US JOLTS Job Openings. Then on Thursday, traders will watch the ADP employment index for August, the weekly jobless claims report and the US ISM services PMI.
However, the most attention-grabbing event next week will be the US non-farm payrolls report for August, due out Friday morning. Some market experts believe the report could boost the Federal Reserve's expected September interest rate cut from 25 basis points to 50 basis points.
Adrian Day - President of Adrian Day Asset Management is one of the experts predicting gold prices to increase next week: "As we get closer to the US Federal Reserve's interest rate cut, the momentum could push gold prices higher.
The first rate cut in a cycle has been a bullish signal for gold for over 20 years. Although it is already priced in to some extent, I still expect a positive reaction.”
Kitco senior analyst Jim Wyckoff remains bullish on gold this week. "Gold prices are rising steadily as the charts remain bullish and fundamentals remain friendly," he said.
On the other hand, Marc Chandler - General Director at Bannockburn Global Forex expects gold prices to fall next week: "The bullish momentum has stalled. I can envision a decline that will take gold prices down to the $2,470-2,475/ounce range.
Phillip Streible, chief market strategist at Blue Line Futures, also had a less optimistic forecast for gold. However, he said that gold prices will not fall much and that the declines will provide buying opportunities. He added that September is typically a "bad month" for gold prices, so traders should look for buying opportunities.
Meanwhile, Darin Newsom - Senior Market Analyst at Barchart.com predicted that gold prices will go sideways: "I think gold prices will go sideways next week" - this expert said.
According to Bob Haberkorn - Senior Commodity Broker at RJO Futures, $2,500/ounce is the support level for gold prices.
