Gold price today September 5: SJC unexpectedly skyrocketed, surpassing 134 million despite world decline

On the morning of September 5, the world gold price turned down to 3,552 USD/ounce, 6 USD lower than yesterday. On the contrary, gold bars at Saigon Jewelry Company - SJC continued to increase by 500,000 VND, bringing the buying price to 132.9 million VND per tael and the selling price to 134.4 million VND. This is a new record for SJC gold bars.

Converted according to Vietcombank exchange rate, the world gold price is equivalent to 113.5 million VND/tael (excluding tax and fees). Due to the opposite increase, each tael of SJC gold bar is nearly 21 million VND more expensive than the world price.

Gold price in the country on the morning of September 5 continued to set a new record. PHOTO: DAO NGOC THACH

Similarly, the 4-number 9 gold ring at SJC Company increased by 500,000 VND when buying to 126.7 million VND, selling to 129.2 million VND; Doji also increased by 500,000 VND, bringing the buying price to 126.8 million VND and selling to 129.8 million VND... Currently, each tael of gold ring is 16 million VND higher than the world price.

The world gold price fell after hitting a record high as many investors increased profit-taking. In two consecutive days on September 3-4, the world's largest gold ETF - SPDR Gold Shares - sold a net of about 8.6 tons of gold after 6 previous buying sessions. However, Standard Chartered Bank forecasts that the gold price will continue to reach new peaks. The bank emphasized that the demand for safe havens is being driven by long-term uncertainties, especially concerns about tariff policies and the independence of the US Federal Reserve (Fed).

A report released yesterday showed that the number of Americans filing for unemployment benefits for the first time rose more than expected last week. Weaker-than-expected job openings reinforced expectations that the Fed will soon cut interest rates. Several Fed officials spoke of concerns as the labor market continued to reinforce their belief that a rate cut is still within the central bank's reach. Low interest rates often boost gold prices./.

According to Thanh Nien Newspaper

Source: https://thanhnien.vn/gia-vang-hom-nay-592025-bat-ngo-sjc-tang-vot-vuot-xa-134-trieu-du-the-gioi-giam-185250905075355754.htm

Source: https://baolongan.vn/gia-vang-hom-nay-05-9-bat-ngo-sjc-tang-vot-vuot-xa-134-trieu-du-the-gioi-giam-a201946.html