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Heavy losses, positive outlook.

Báo Lao ĐộngBáo Lao Động15/09/2024


Gold price movements in SJC gold over the past month. Source: Rong Viet Online Services Joint Stock Company (VDOS).
Gold price movements in SJC gold over the past month. Source: Rong Viet Online Services Joint Stock Company (VDOS).

Meanwhile, Saigon Jewelry Company (SJC) listed the price of SJC gold at 78.5 - 80.5 VND/ounce (buying price - selling price).

Compared to the closing price of last week's trading session, the price of gold at Saigon Jewelry Company (SJC) remained unchanged for both buying and selling.

The difference between the buying and selling price of SJC gold at Saigon Jewelry Company (SJC) is around 2 million VND per tael.

Last week, SJC gold prices remained stable; however, the high buy-sell spread resulted in significant losses for investors.

If an investor bought gold at DOJI Group on September 8th at 80.5 million VND/ounce and sold it today (September 15th), they would lose 2 million VND/ounce. Similarly, those who bought gold at Saigon Jewelry Company (SJC) would also lose 2 million VND/ounce.

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Currently, the difference between the buying and selling price of gold is listed around 2 million VND per tael. Experts believe that this difference is very high, posing a risk of losses for investors in the short term.

Price of 9999 pure gold ring

As of 6:00 PM today, the price of 9999 Hung Thinh Vuong gold rings at DOJI is listed at 77.9-79.1 million VND/ounce (buying price - selling price); an increase of 450,000 VND/ounce in the buying price and an increase of 500,000 VND/ounce in the selling price compared to the closing price of last week's trading session.

Saigon Jewelry Company listed the price of gold rings at 77.8-79.1 million VND/ounce (buying price - selling price); an increase of 500,000 VND/ounce in both buying and selling prices compared to the closing price of last week's trading session.

Bao Tin Minh Chau listed the price of gold rings at 77.88-79.08 million VND/ounce (buying price - selling price); an increase of 450,000 VND/ounce in both buying and selling prices compared to the closing price of last week's trading session.

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

World gold prices

As of 5 PM, the world gold price listed on Kitco was at $2,577.7 per ounce, a sharp increase of more than $80 per ounce compared to the closing price of last week's trading session.

World gold price trends. Source: Kitco
World gold price trends. Source: Kitco

Gold price forecast

Global gold prices edged lower amid a recovery in the US dollar index. At 6:00 PM on September 15th, the US Dollar Index, which measures the dollar's fluctuations against six major currencies, stood at 101.120 points (down 0.23%).

Last week, gold broke the record set at the end of August and continuously conquered new milestones as expectations of a strong move from the US Federal Reserve (FED) grew higher.

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Experts believe that this precious metal has come a long and arduous way, and the upcoming monetary policy decision will mark the beginning of a new journey.

Kitco News' latest weekly gold survey shows that both industry experts and retail investors are optimistic about gold's upside potential, but remain more skeptical and cautious than in recent weeks.

According to an update from the World Gold Council (WGC), as of May 2024, China's official gold holdings had increased to approximately 2,300 tonnes, roughly 5% of its total reserves. This represents an increase of about 20% from the 1,900 tonnes held just two years earlier in 2022.

This week, 13 analysts participated in Kitco News' gold survey. The majority of experts remain positive about gold prices. Eight experts expect gold prices to rise next week, while three others believe gold will trade lower next week. The remaining two experts predict the price of the precious metal will remain stable.

Meanwhile, 189 votes were cast in Kitco's online poll. 107 traders expect gold prices to rise next week, while 47 expect the precious metal to fall. The remaining 35 respondents predicted gold prices would remain unchanged next week.



Source: https://laodong.vn/tien-te-dau-tu/cap-nhat-gia-vang-chot-phien-159-thua-lo-nang-ne-du-bao-tich-cuc-1393429.ldo

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