Recovering, gold simultaneously increased again

Domestic gold price today 11.9

Early morning of September 11.9, SJC's 9999 gold price today increased by 50 VND/tael in both buying and selling directions compared to last week's trading session.

Gold price 9999 is updated by Saigon Jewelry Company Limited (SJC) at 8:34 and gold price 9999 is listed by Doji Jewelry Group at 8:38 as follows:

                                              SJC and DOJI gold price list updated in the early morning of September 11.9

Closing the trading session on September 9.9, gold bar price 9999 at SJC HCMC is 68,1 million dong/tael (buy in) and 68,8 million dong/tael (sold out). SJC Hanoi listed at 68,1 million dong/tael (buy in) and 68,82 million dong/tael (sold out). 

Doji Hanoi listed at 68,05 million dong/tael (buy in) and 68,85 million dong/tael (sold out). Doji Ho Chi Minh City bought SJC gold at 68,1 million dong/tael, sold at 68,8 million dong/tael. 

Central exchange rate on September 11.9 announced by the State Bank at 24.005 VND/USD, an increase of 12 VND compared to last weekend. The USD price at commercial banks this morning (September 11.9) was trading around 23.890 VND/USD (buying) and 24.260 VND/USD (selling).

International gold price today 11.9

At 9:10 am today (September 11.9, Vietnam time), World gold spot price stands around 1.922,5 USD/ounce, up 4,5 USD/ounce compared to last week. Gold futures price for December delivery on the Comex New York floor is at 12 USD/ounce.

The morning of June 11.9, World gold converted to bank USD price is nearly 56,23 million VND/tael (excluding taxes and fees), about 12,64 million VND/tael lower than the domestic gold price.

On the world market, spot gold price on Kitco closed last week's trading session at 1.918 USD/ounce. 

The USD is experiencing a long series of increases due to signs of greater economic prosperity in the US. The DXY index rose back to 105 points, pushing gold prices into a downward trend.

Currently, investors continue to monitor US inflation data, expected to be announced on September 13, and the US Federal Reserve's (Fed) monetary policy decision on September 9. .

George Milling-Stanley, chief gold strategist at State Street Global Advisors, said that although investors have flocked to hoard USD and buy Treasury bonds, gold investment activity in recent times has not increased. never decreased. That shows that gold is not less attractive than other investment channels.

Milling-Stanley added that gold is still an attractive investment channel in the context of US inflation remaining high, and gold may even be a strong channel to attract investors if the US economy falls into recession.

According to the CME FedWatch tool, traders estimate a 93% chance that the Fed will maintain current interest rates at its upcoming September 20 meeting, and 9% think there will be another rate increase. interest rate hikes before 43.

Gold price forecast

Last week, 13 Wall Street analysts participated in Kitco News' gold survey. 31% of them predict that gold prices will be higher in the near future, while 38% predict that gold prices will decrease, and the remaining 31% predict that gold will trade sideways.

Meanwhile, 474 votes were cast in online polls. Of these, 222 respondents, equivalent to 47%, think that gold prices will increase in the near future. Another 169 people, equivalent to 36%, predicted that gold prices would decrease, while the remaining 83 people, equivalent to 17%, thought that gold prices would go sideways.

Gold price today 10.9: End of the week of discounts, will go down next weekGold prices today, September 10.9, on the world market ended the week of decline, while domestic gold prices remained anchored at a high level of nearly 69 million VND/tael.