SJC gold bar price
As of 9:00 a.m., the price of SJC gold bars listed by DOJI Group was at 78.5 - 80.5 million VND/tael (buy - sell).
Compared to the beginning of the previous trading session, gold price at DOJI decreased by 500,000 VND/tael for both buying and selling.
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 78.5 - 80.5 million VND/tael (buy - sell).
Compared to the beginning of the previous trading session, the gold price at Saigon Jewelry Company SJC decreased by 500,000 VND/tael for both buying and selling.
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 77.4 - 78.5 million VND/tael (buy - sell); the buying price remained the same and the selling price decreased by 50,000 VND/tael.
Saigon Jewelry Company listed the price of gold rings at 77.25 - 78.55 million VND/tael (buy - sell); unchanged in both directions.
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 9:20 a.m., the world gold price listed on Kitco was at 2,496.5 USD/ounce, up 3.1 USD/ounce compared to the beginning of the previous trading session.
Gold Price Forecast
World gold prices remained unchanged in the context of the USD index not changing much. Recorded at 9:20 a.m. on September 5, the US Dollar Index, which measures the greenback's fluctuations against 6 major currencies, was at 101.252 points (down 0.05%).
Gold prices are under some pressure as they have yet to break out of the $2,500/ounce zone. However, the outlook for the precious metal remains bright until the end of the year.
In a recent note, Nicky Shiels, Head of Metals Research and Strategy at MKS PAMP, noted that since 2009, gold prices have fallen 2.4% in September. Meanwhile, analysts at Bloomberg noted that since 2017, gold prices have fallen 3.2% in September.
September wasn’t just a bad month for gold, silver was also a bad month. Over the past 15 years, silver fell 3.7% in the final month of the third quarter.
However, the precious metal is also receiving support from many factors, including increased purchases by central banks. In the latest report of the World Gold Council (WGC), WGC senior analyst Krishan Gopaul noted that central banks have continued to accumulate gold in recent months.
While rising gold prices may impact central bank demand this year, the long-term trend of government net purchases remains intact, Gopaul said. “Although overall demand has reportedly cooled as gold prices have risen to record highs, it remains positive,” he said.
Central bank gold purchases doubled in July, the expert said. Global central banks added a net 37 tonnes to their official reserves, representing a 206% increase.
“In total, seven central banks added gold (one tonne or more) to their reserves in July, while only one central bank reduced its gold holdings,” writes Krishan Gopaul.
The focus this week will be on the US payrolls report due out on Friday, which experts say could have an impact on the direction of gold as it changes interest rate expectations.
