Update on closing gold price on September 2: No change

Illustration: Linh Trang

Update SJC gold price

Domestic SJC gold price closed on September 2, 2024.

SJC gold price developments last month. Source: Rong Viet Online Service Joint Stock Company VDOS.

Price of round gold ring 9999

As of 6:00 p.m. today, the price of 9999 Hung Thinh Vuong round gold rings at DOJI is listed at 77.5 - 78.6 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.

Bao Tin Minh Chau listed the price of gold rings at 77.43 - 78.63 million VND/tael (buy - sell); down 30,000 VND/tael for both buying and selling compared to the closing price of last week's trading session.

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 5:30 p.m., the world gold price listed on Kitco was at 2,501.1 USD/ounce, down 2.3 USD/ounce compared to the close of the previous trading session.

World gold price developments. Source: Kitco

Gold Price Forecast

World gold prices held steady at the resistance level of 2,500 USD/ounce in the context of the USD index falling. Recorded at 5:30 p.m. on September 2, the US Dollar Index, which measures the fluctuations of the greenback against 6 major currencies, was at 101.575 points (down 0.05%).

The latest Kitco News weekly gold survey shows that investors are easing their recent bullish sentiment on gold, while experts are evenly split on the outlook.

Fifteen analysts took part in the Kitco News gold survey. Five analysts see gold prices rising this week. Five see it falling lower this week. The remaining five see sideways trading for the precious metal.

Meanwhile, 199 votes were cast in Kitco's online poll. 112 retail traders expect gold prices to rise this week. Another 47 see the yellow metal trading lower, while 40 see prices consolidating this week.

Adrian Day - President of Adrian Day Asset Management is one of the experts predicting gold prices to increase this week: "As we approach 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.”

On the other hand, Marc Chandler - General Director at Bannockburn Global Forex expects gold prices to fall this week: "The bullish momentum has stalled. I can imagine a decline that will take gold prices down to the $2,470-2,475/ounce range.

Meanwhile, Darin Newsom - Senior Market Analyst at Barchart.com predicted that gold prices will go sideways: "I think gold prices will go sideways this week" - this expert said.

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 increase the Federal Reserve's expected interest rate cut in September from 25 basis points to 50 basis points.

Source: https://laodong.vn/tien-te-dau-tu/cap-nhat-gia-vang-chot-phien-29-khong-suy-suyen-1388400.ldo