Potential to break new high

Update SJC gold price

Domestic SJC gold price closed on July 18, 2024.

SJC gold bar price recorded at DOJI Group. Unit: Million VND/tael. Chart: Linh Trang

Price of round gold ring 9999

As of 6:30 p.m. today, the price of 9999 Hung Thinh Vuong round gold rings at DOJI is listed at 76.50-77.70 million VND/tael (buy - sell); increased by 50,000 VND/tael for buying and unchanged for selling.

Saigon Jewelry Company listed the price of gold rings at 76.2-77.5 million VND/tael (buy - sell); an increase of 220,000 VND/tael for buying and an increase of 720,000 VND/tael for selling.

Bao Tin Minh Chau listed the price of gold rings at 76.28-77.58 million VND/tael (buy - sell); increased by 50,000 VND/tael for both buying and selling.

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 6:30 p.m. today, the world gold price listed on Kitco was at 2,464 USD/ounce, down 6.9 USD/ounce compared to the close of yesterday's trading session.

Gold Price Forecast

World gold prices increased sharply in the context of a sharp decline in the USD index. Recorded at 6:00 p.m. on July 18, the US Dollar Index, which measures the fluctuations of the greenback against 6 major currencies, was at 103.559 points (up 0.12%).

Mr. Ryan McIntyre - senior portfolio manager at Sprott Asset Management commented that falling interest rates and the US election are factors that can push gold prices above the $2,500/ounce mark.

Gold prices tend to benefit from economic and geopolitical uncertainty, the expert said. Lower interest rates increase the appeal of gold.

Federal Reserve Governor Christopher Waller and New York Fed President John Williams both noted the near-term outlook for looser monetary policy, while Richmond Fed President Thomas Barkin said he was "very encouraged" by the broad-based decline in inflation.

According to the CME FedWatch Tool, the market sees a 98% chance of easing at the September meeting.

Citi Bank said that in the next 6-12 months, gold prices could rise to $2,700-$3,000/ounce and silver prices to $38/ounce. The bank also added that investors may want to hedge their stock and currency holdings amid potential global trade tensions, especially between the US and China, which could boost the price of the precious metal.

In other precious metals, spot silver rose 0.6% to $30.49 an ounce. Platinum rose 0.4% to $998.50 an ounce, while palladium rose 0.8% to $959.56 an ounce.

Source: https://laodong.vn/tien-te-dau-tu/cap-nhat-gia-vang-chot-phien-187-co-kha-nang-pha-dinh-moi-1368410.ldo