Steady increase, gold ring close to new peak

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); increased by 100,000 VND/tael for both buying and selling.

Saigon Jewelry Company listed the price of gold rings at 77.4 - 78.65 million VND/tael (buy - sell); increased by 100,000 VND/tael for buying and kept the same 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 2,516.1 USD/ounce, up 9.1 USD/ounce compared to the beginning of the previous trading session.

Update world gold prices. Source: Kitco

Gold Price Forecast

World gold prices increased despite the recovery of the USD index. Recorded at 9:45 a.m. on August 28, the US Dollar Index, which measures the fluctuations of the greenback against 6 major currencies, was at 100.575 points (up 0.12%).

Gold’s new rally comes amid improving consumer sentiment. The U.S. consumer confidence index painted an upbeat picture in August, rising to 134.4 from 133.1 in July.

The catalyst for the weakness in the USD/ounce can be traced back to late June when optimism began to build around the possibility of a pivot to interest rate normalization by the US Federal Reserve (FED).

This sentiment was reinforced by Fed Chairman Jerome Powell’s recent speech at the Jackson Hole, Wyoming, economic symposium, which effectively confirmed that the era of aggressive rate hikes that began in March 2022 is over, with the first rate cut likely to come in September.

Markets are pricing in a US rate cut. According to the CME FedWatch tool, 66% expect a 0.25% cut in September, with a 34% chance of a 0.5% cut.

This expected change in monetary policy has important implications for the gold market, cementing its position as a safe-haven asset and a hedge against economic uncertainty.

Source: https://laodong.vn/tien-te-dau-tu/gia-vang-hom-nay-288-tang-vung-chac-vang-nhan-ap-sat-dinh-moi-1385839.ldo