Updated SJC gold prices
Price of 9999 pure gold ring
As of 6 PM today, the price of 9999 Hung Thinh Vuong gold rings at DOJI is listed at 77.05 - 78.30 million VND/ounce (buying price - selling price); an increase of 100,000 VND/ounce in the buying price and a decrease of 200,000 VND/ounce compared to the closing price of the previous trading session.
Saigon Jewelry Company listed the price of gold rings at 77.05 - 78.35 million VND/ounce (buying price - selling price); an increase of 250,000 VND/ounce for the buying price and an increase of 150,000 VND/ounce for the selling price compared to the closing price of the previous trading session.
Bao Tin Minh Chau listed the price of gold rings at 76.96 - 78.28 million VND/ounce (buying price - selling price); an increase of 50,000 VND/ounce in both buying and selling prices compared to the closing price of the previous trading session.
In recent trading sessions, the price of gold rings has often fluctuated in the same direction as the global market. Investors can refer to the global market and expert opinions before making investment decisions.
World gold prices
As of 6:00 PM, the world gold price listed on Kitco was at $2,522.3 per ounce, an increase of $35.7 per ounce compared to the close of trading last week.
Gold price forecast
Global gold prices fell sharply despite a decline in the US dollar index. At 6:30 PM on August 20th, the US Dollar Index, which measures the fluctuations of the greenback against six major currencies, stood at 101.660 points (down 0.07%).
Sabrin Chowdhury, head of commodity analysis at market research firm BMI, predicts that gold will reach several more peaks in 2024 because the metal has always been considered a safe-haven asset.
According to her, gold is a commodity very sensitive to instability, which is currently escalating with the US election in 2024 and geopolitical tensions in many regions.
Another factor driving up the price of gold bullion is the possibility of the US Federal Reserve (FED) cutting interest rates in September. The FED's July meeting reinforced investors' belief that a decision to cut interest rates next month is entirely possible.
According to BMI analysts, when the Fed begins cutting interest rates, the price of gold could reach $2,700 per ounce. Lower interest rates reduce the opportunity cost of buying gold, making it more attractive than interest-bearing assets such as Treasury bonds, which are also a form of safe-haven asset.
Lower interest rates also put pressure on the US dollar, making gold bullion priced in US dollars more attractive to holders of other currencies.
Source: https://laodong.vn/tien-te-dau-tu/cap-nhat-gia-vang-chot-phien-208-tang-dung-dung-1382443.ldo
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