Turn around and recover, waiting for new data

Illustration: Phan Anh

SJC gold bar price

As of 9:00 a.m., the price of SJC gold bars was listed by DOJI Group at 79 - 81 million VND/tael (buy - sell).

Compared to the beginning of the previous trading session, gold prices at DOJI remained unchanged in both buying and selling directions.

The difference between buying and selling prices of SJC gold at DOJI Group is at 2 million VND/tael.

Update gold price early this morning. Source: Rong Viet Online Service Joint Stock Company VDOS

SJC gold price developments. Source: Rong Viet Online Service Joint Stock Company VDOS

Meanwhile, Saigon Jewelry Company listed the price of SJC gold at 79 - 81 million VND/tael (buy - sell).

Compared to the beginning of the previous trading session, the gold price at Saigon Jewelry Company SJC remained unchanged in both buying and selling directions.

The difference between buying and selling price of SJC gold at Saigon Jewelry Company is at 2 million VND/tael.

9999 gold ring price

This morning, the price of 9999 Hung Thinh Vuong round gold ring at DOJI was listed at 77.55 - 78.65 million VND/tael (buy - sell); both buying and selling prices remained unchanged.

Saigon Jewelry Company listed the price of gold rings at 77.35 - 78.60 million VND/tael (buy - sell); down 50,000 VND/tael for buying and unchanged for selling.

In recent sessions, the price of gold rings has often fluctuated in the same direction as the world market. Investors can refer to the world market and expert opinions before making investment decisions.

World gold price

As of 9:30 a.m., the world gold price listed on Kitco was at 2,513 USD/ounce, down 3.1 USD/ounce compared to the beginning of the previous trading session.

Update world gold prices. Source: Kitco

Gold Price Forecast

World gold prices increased in the context of the USD index decreasing. Recorded at 9:00 a.m. on August 29, the US Dollar Index, which measures the fluctuations of the greenback against 6 major currencies, was at 100.930 points (down 0.05%).

Investors are still waiting for key inflation data from the world's largest economy for clues on the size of a potential interest rate cut by the US Federal Reserve (FED) in September.

In the current environment, most opinions say that gold may slow down and reverse to the downside. David Meger, director of metals trading at High Ridge Futures, said that gold may decline or consolidate while the market waits for inflation data to guide the next direction of prices.

Meanwhile, senior analyst Ricardo Evangelista of ActivTrades said that if the PCE data released this Friday is lower than expected, it will boost expectations of a more dovish Fed in monetary policy, which will create potential upside for gold prices.

Another piece of information that has affected gold prices is that in the past 3 months, the People's Bank of China (PBoC) has stopped buying gold. However, China is expected to soon return to buying gold in the context of the rapidly falling USD and Beijing's strategy to reduce the proportion of the greenback in its foreign exchange reserves. Many large ETFs in the world have recently increased their net buying of gold.

Source: https://laodong.vn/tien-te-dau-tu/gia-vang-hom-nay-298-quay-dau-hoi-phuc-cho-du-lieu-moi-1386367.ldo