SJC gold bar price
As of 9 AM, the price of SJC gold bars listed by DOJI Group was 79 - 81 million VND/ounce (buying price - selling price).
Compared to the beginning of the previous trading session, the price of gold at DOJI remained unchanged for both buying and selling.
The difference between the buying and selling price of SJC gold at DOJI Group is around 2 million VND/ounce.
Meanwhile, Saigon Jewelry Company (SJC) listed the price of SJC gold at 79 - 81 million VND/ounce (buying price - selling price).
Compared to the beginning of the previous 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.
Price of 9999 gold rings
This morning, the price of 9999 Hung Thinh Vuong gold rings at DOJI is listed at 77.50 - 78.60 million VND/ounce (buying price - selling price); unchanged.
Saigon Jewelry Company listed the price of gold rings at 77.3 - 78.6 million VND/ounce (buying price - selling price); unchanged.
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 9:00 AM, the world gold price listed on Kitco was at $2,493.4 per ounce, down $3.2 per ounce compared to the beginning of the previous trading session.
Gold price forecast
Global gold prices fell amid a rise in the US dollar index. At 9:00 AM on September 3rd, the US Dollar Index, which measures the fluctuations of the greenback against six major currencies, stood at 101.602 points (up 0.02%).
Global gold prices fell partly due to investor concerns about the possibility that the US Federal Reserve (FED) might not be able to cut interest rates by 50 basis points in September. Recent economic data has led the gold market to believe that the FED will likely cut interest rates by 25 basis points.
One of the big questions for gold investors recently is whether the Fed will cut interest rates by 100 basis points after the end of 2024. Therefore, although gold is still trading at a high of $2,500 per ounce and could continue to rise, gold investors are hesitant and not yet fully committed to chasing the upward price trend.
Phillip Streible, Head of Market Strategy at Blue Line Futures, believes that the weakening gold price presents a significant opportunity for investors to buy at lower prices, as gold remains in an upward trend.
Naeem Aslam, investment director at Zaye Capital Market, believes that investors' overly optimistic expectations of a 50-basis-point interest rate cut by the Fed are detrimental to the market.
According to CME's FedWatch tool, the market fully expects the Fed to cut interest rates by 25 basis points at its September monetary policy meeting. At the same time, there is a 30.5% probability of a 50 basis point rate cut.
However, some experts believe gold still has significant room for further price increases. Tobina Kahn, president of House of Kahn Estate Jewelers, recently predicted that gold prices could rise even higher as inflation remains high. Kahn stated that $3,000 per ounce is a realistic target for gold and could be reached within just a few months.
The market is currently awaiting the US ISM manufacturing PMI for August today. Tomorrow (Wednesday) will see the Bank of Canada's monetary policy decision and the US JOLTS employment figures.
Then, on Thursday, traders will be watching the ADP employment index for August, the weekly jobless claims report, and the US ISM services PMI.
However, the most anticipated event next week is the US August non-farm payrolls report, released Friday morning. Some market experts believe this report could potentially increase the Federal Reserve's (FED) expected interest rate cut in September from 25 to 50 basis points.
Source: https://laodong.vn/tien-te-dau-tu/gia-vang-hom-nay-39-tiep-tuc-sut-giam-co-dang-lo-1388550.ldo
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