LIVE UPDATE TABLE OF GOLD PRICE TODAY 9/27 and EXCHANGE RATE TODAY 9/27
| 1. PNJ - Updated: September 26, 2023 22:30 - Time of website supply - ▼ / ▲ Compared to yesterday. | ||
| Type | Buy | Sell |
| HCMC - PNJ | 56,950 ▼150K | 57,950 ▼150K |
| HCMC - SJC | 68,100 ▼100K | 68,800 ▼250K |
| Hanoi - PNJ | 56,950 ▼150K | 57,950 ▼150K |
| Hanoi - SJC | 68,100 ▼100K | 68,800 ▼250K |
| Da Nang - PNJ | 56,950 ▼150K | 57,950 ▼150K |
| Da Nang - SJC | 68,100 ▼100K | 68,800 ▼250K |
| Western Region - PNJ | 56,950 ▼150K | 57,950 ▼150K |
| Western Region - SJC | 68,300 ▼150K | 68,800 ▼150K |
| Jewelry gold price - PNJ rings (24K) | 56,950 ▼150K | 57,900 ▼100K |
| Jewelry Gold Price - 24K Jewelry | 56,800 ▼100K | 57,600 ▼100K |
| Jewelry Gold Price - 18K Jewelry | 41,950 ▼80K | 43,350 ▼80K |
| Jewelry Gold Price - 14K Jewelry | 32,450 ▼60K | 33,850 ▼60K |
| Jewelry Gold Price - 10K Jewelry | 22,710 ▼40K | 24,110 ▼40K |
Domestic gold prices fell rapidly as world gold prices plummeted, losing the peak of over VND69 million/tael, after 10 days of being anchored at the highest price of the year. The difference between the buying and selling prices of SJC gold decreased to around VND700,000 - 800,000/tael. This is a fairly high difference, investors need to calculate carefully to minimize the risk of loss when buying.
The domestic gold price is currently listed at 68.1 - 68.9 million VND/tael (buy - sell), down about 50,000 - 200,000 VND/tael in both directions. Compared to the beginning of September, the gold price is still 600,000 VND/tael higher, but compared to the recent high of 69.5 million VND, gold is 650,000 VND lower.
The price of 4-number-9 gold rings has a slight decrease, about 100,000 VND/tael, SJC Company buys for 56.65 million VND, sells for 57.9 million VND.
According to the World & Vietnam Newspaper , at 8:30 p.m. on September 26 (Vietnam time), the world gold price on the Kitco floor was trading at 1,905.60 USD/ounce , down 9.5 USD/ounce compared to the previous session. The price of gold for December delivery last decreased by 5.50 USD to 1,931.10 USD/ounce.
With the current world gold price, converted to USD exchange rate (including tax and processing fee) is at 57.4 million VND/tael, thus, the difference between domestic and world SJC gold prices, gold rings are 1.2 million VND higher, and gold bars are 12.15 million VND higher.
 |
| Gold price today September 27, 2023: Gold price hits rock bottom, USD hits peak, investors lose interest in gold for this reason. (Source: Getty Images) |
Technical selling is evident while the chart remains bearish. The US 10-year Treasury yield is rising and nearing a 16-year high, while the USD index is hovering near a 10-month high – both external market factors have a bearish impact on the precious metal.
Meanwhile, traders and investors were in a risk-off mood early this week amid a high likelihood of a U.S. government shutdown at the end of next week. A shutdown would disrupt the world’s top economy and the lives of millions of Americans. Gold bulls were once again left in the lurch, with their metal seeing little or no safe-haven buying interest as the storms loomed.
Summary of SJC gold prices at major domestic trading brands at the closing time of September 27:
Saigon Jewelry Company listed the price of SJC gold at 68.10 - 68.82 million VND/tael.
Doji Group currently lists the price of SJC gold at: 68.10 - 68.90 million VND/tael.
Phu Quy Group listed gold price at 68.05 - 68.75 million VND/tael.
PNJ system listed at: 68.10 - 68.80 million VND/tael.
SJC gold price at Bao Tin Minh Chau is listed at: 68.12 - 68.73 million VND/tael; Rong Thang Long gold brand is traded at 56.99 - 57.89 million VND/tael; jewelry gold price is traded at 56.65 - 57.75 million VND/tael.
Investors are no longer interested in buying gold?
World gold prices fell as higher US bond yields boosted the greenback's appeal, pushing the US dollar index - a measure of the greenback's volatility against a basket of major currencies - to 106.2, its highest level since late November 2022.
Meanwhile, the euro was virtually unchanged against the dollar, standing at $1.0588 per euro, after hitting its lowest level since March 2023 at $1.057 per euro. Meanwhile, the dollar's rise has caused further damage to many other currencies such as the Japanese yen, British pound, Swiss franc... all sliding to lows.
“The Federal Reserve and global central banks taking a more hawkish stance are keeping gold in check,” said Everett Millman, market analyst at Gainesville Coins . Millman forecasts gold to trade between $1,910 and $1,950 for the remainder of the quarter.
Given the current “health” of the US economy, interest rates are likely to rise again and stay “higher for longer” until inflation falls to 2%, said Neel Kashkari, a policymaker at the Federal Reserve .
Kelvin Wong, senior market analyst for Asia-Pacific at OANDA, said gold will certainly face short-term downside pressure at the moment due to rising US Treasury yields combined with the strength of the US dollar.
However, the long-term bullish view on gold remains intact. In a recent outlook report, French bank Société Générale said it remains positive on the precious metal as inflation remains high amid the Fed’s plans to end its tightening cycle. Despite gold’s lackluster performance over the summer, SocGen remains optimistic that prices could return to $2,000 an ounce.
More specifically, the French banking expert predicts that gold prices could rise to $2,200/ounce by the end of 2024 as investors realize how difficult it will be for central banks to bring core inflation down to the 2% target.
Expert Everett Millman also predicts that gold will hit a new all-time high in 2024, if the world sees at least a mild recession in the global economy. If we do have a recession, the Fed will be forced to cut interest rates sooner.
Source
Comment (0)