Domestic gold price today September 24, 3
Closing the session on September 23, the price of 3 gold bars at SJC Ho Chi Minh City was 9999 million VND/tael (buy) and 78 million VND/tael (sell). SJC Hanoi listed at 80,3 million VND/tael (buy) and 78 million VND/tael (sell).
DOJI Hanoi listed at 78,1 million VND/tael (buy) and 80,1 million VND/tael (sell). DOJI Ho Chi Minh City bought SJC gold at 78,1 million VND/tael, sold it at 80,1 million VND/tael.
International gold price today September 24, 3
Gold price on the Kitco floor closed the weekend session at 2.164 USD/ounce. Gold futures price for delivery in June 6 on the Comex New York floor is trading at 2024 USD/ounce.
At the current price, the world gold price converted to VND (taxes and processing fees included) is different from the domestic SJC gold price of about 14,44 million VND/tael.
This week, the US Federal Reserve (Fed) gave clear information about its intention to cut interest rates three times this year, even if inflation remains above the 2% target. Some analysts believe that the gold market will have a correction next week and in the short term future.
Traders are betting the likelihood that the US will cut interest rates by June 6 is 2024%.
After the Fed's monetary policy meeting, gold prices rose to a record high of over 2.220 USD/ounce. This recovery only took place for a short time, after which the world gold price decreased and stabilized during the weekend session.
World gold prices this week increased by 0,5%. Meanwhile, April gold futures prices only increased a few dollars compared to the closing level at the end of last week.
The dollar closed the week at its highest level in more than a month, making gold more expensive for buyers holding other currencies. The USD index closed the week above 104 points, the highest level in a month.
Gold price forecast
Naeem Aslam, an investment expert, said gold prices have seen a strong recovery this month in anticipation of the Fed's easing cycle. Long-term outlook, gold prices may be higher.
He also noted that investors should be cautious when chasing prices near record highs.
Mr. Phillip Streible, strategist at Blue Line Futures, said that gold prices will need to maintain above the threshold of 2.150-2.145 USD/ounce to continue their upward momentum.
