9999 SJC gold price increased by 50 thousand VND/tael

Domestic gold price today 6/9

Early afternoon on July 6SJC's 9999 gold price today increased by 50 thousand dong/tael in both buying and selling afternoon compared to the morning.

Gold price 9999 is updated by Saigon Jewelry Company Limited (SJC) at 14:45 ′ and gold price 9999 is listed by Doji Jewelry Group at 14 pm as follows:

                                     Gold price list SJC and DOJI updated early afternoon 6/9

Early morning 6/9, the price of gold 9999 of SJC today was unchanged compared to yesterday's end.

Gold price 9999 is updated by Saigon Jewelry Company Limited (SJC) at 9:12 and gold price 9999 is listed by Doji Jewelry Group at 8:40 as follows:

                           SJC and DOJI gold price list updated early in the morning of June 6

Closing the trading session on April 5, gold price 9999 The domestic market is listed by SJC and Doji Jewelry Group in the order of buying and selling as follows:

SJC Hanoi: 67.750.000 VND/tael – 68.370.000 VND/tael
Doji Hanoi: 67.650.000 VND/tael – 68.400.000 VND/tael
SJC HCMC: 67.750.000 VND/tael – 68.350.000 VND/tael 
Doji Ho Chi Minh City: 67.600.000 VND/tael – 68.300.000 VND/tael

Central exchange rate on 6/9 announced by the State Bank is 23.991 VND/USD, up 32 VND compared to yesterday. USD price at commercial banks this morning (June 6) was trading around 9 VND/USD (buying in) and 23.870 VND/USD (selling out).

International gold price today 6/9

At 9:35 am today (July 6, Vietnam time), the world spot gold price stood around the threshold of 1.925 USD/ounce, down 7 USD/ounce compared to last night. Gold futures for December delivery on the Comex New York exchange were at $12 per ounce.

On the night of June 5 (Vietnam time), the world spot gold price stood around the threshold of 9 USD/ounce. Gold for August delivery on the Comex New York exchange was at $1.932 per ounce.

The world gold price on the night of May 5 was about 9% higher (US$5,9/ounce) than at the beginning of 108. World gold converted to bank dollars was priced at VND2023 million/tael, including taxes and fees, about 57,1 million VND/tael lower than the domestic gold price by the end of the afternoon session on May 11,1.

The world gold price dropped quite sharply to the threshold of 1.930 USD/ounce in the context of the DXY index (measuring the fluctuation of the USD with 6 major currencies in the world) increasing rapidly to the threshold of 104,6 points.

The greenback rises as the Fed is about to have its meeting on September 19-20.

Market signals show that the US central bank may not raise interest rates in this event. However, the general policy is still "hawkish", tightening monetary policy, maintaining interest rates at record highs for many decades for a long period of time.

Gold price forecast

Besides, it is likely that the Fed still has another interest rate increase in mind at its November meeting.

Recently, data shows that the US economy is weakening again. This strengthens the case that interest rates will not rise further and thereby supports assets such as gold.

However, in the short term, precious metal products are still under pressure to reduce prices. The US labor market remains quite strong. Meanwhile, inflation remains high. The possibility of a reversal in monetary policy is still measured in 6 months to a whole year.

Currently, investors pay a lot of attention to fluctuations in Treasury bond interest rates before the Fed Open Market Committee (FOMC) meeting in September.

Some forecasts say that gold may adjust to 1.900 USD/ounce a few more times before turning back up again following a long-term downward trend of the USD.

The USD is forecast to not only decline in 2024 onwards due to a decline in interest rates, but also due to the greenback's position in the international market gradually decreasing.