SJC gold bar price
9999 gold ring price
As of 6:00 a.m., the price of 9999 Hung Thinh Vuong round smooth gold rings at DOJI is listed at 77.00-78.40 million VND/tael (buy - sell).
Saigon Jewelry Company listed the price of gold rings at 77-78.4 million VND/tael (buy - sell).
Bao Tin Minh Chau listed the price of gold rings at 77.08-78.38 million VND/tael (buy - sell).
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 6:00 a.m. on August 18, the world gold price listed on Kitco was at 2,507.7 USD/ounce.
Gold Price Forecast
World gold prices increased in the context of the flat USD index. Recorded at 6:00 a.m. on August 18, the US Dollar Index, which measures the fluctuations of the greenback against 6 major currencies, was at 102.310 points (down 0.49%).
Some experts say that the factor driving the recent increase in gold prices is the strong demand for safe havens as political and economic concerns are increasing.
Anuj Gupta, Head of Commodities and Currencies at HDFC Securities, said that the bullish trend in gold is still there and the direction of the precious metal will depend on the Fed's policy direction. He said that the speech of the US Federal Reserve Chairman - Mr. Jerome Powell at the Jackson Hole Symposium next week will give a clearer picture of the US Central Bank's policy path.
Accordingly, if Mr. Powell appears concerned about economic growth or emphasizes falling inflation, this could strengthen the case for a more aggressive rate cut. Conversely, if he is optimistic and does not make a specific commitment, the market may have to adjust current expectations.
Phil Carr, head of trading at The Gold & Silver Club, said that gold has been on a steady rise since October 2023. From nearly $1,800 an ounce, the precious metal has skyrocketed and hit record highs multiple times this year, recording a 38% increase since October.
The expert noted that the strong breakout of gold is closely related to the government debt in the US. He cited that during the period when the US national debt skyrocketed from 5,000 billion to 35,000 billion USD, the price of gold increased 8 times since 2000. "This is where things really start to get interesting. If history repeats itself, the price of gold could reach 5,000 USD/ounce when the US national debt reaches 70,000 billion USD" - Carr said.
RJO Futures senior commodities broker Bob Haberkorn said that the world gold price will reach the $ 2,600 / ounce mark when the FED cuts interest rates. However, in the short term, the price of this precious metal will go sideways or decrease.
According to Haberkorn, the market may have anticipated the Fed’s 50 basis point cut too early. He said the US central bank may not rush to cut at the upcoming meeting because although inflation has fallen a bit, it is still higher than the Fed’s target.
Haberkorn asserted that the gold market is in an uptrend. However, the $2,500/ounce level that was just broken is a high level and it is difficult to attract new buyers to the market at such high levels.
Source: https://laodong.vn/tien-te-dau-tu/cap-nhat-gia-vang-sang-188-tang-cao-co-nen-mua-vao-1381120.ldo
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