Domestic gold price today September 8
Early afternoon of September 8 , today's SJC 9999 gold price decreased by 150 thousand VND/tael in both buying and selling compared to the morning.
The price of 9999 gold was updated by Saigon Jewelry Company Limited (SJC) at 2:34 p.m. and the price of 9999 gold was listed by Doji Jewelry Group at 3:15 p.m. as follows:
| Buy | Sell out | |
| SJC Hanoi | 68,050,000 VND/tael | 68,770,000 VND/ounce |
| SJC HCMC | 68,050,000 VND/tael | 68,750,000 VND/tael |
| SJC Danang | 68,050,000 VND/tael | 68,770,000 VND/ounce |
| Doji Hanoi | 68,050,000 VND/tael | 68,950,000 VND/ounce |
| Doji Ho Chi Minh City | 68,100,000 VND/tael | 68,800,000 VND/tael |
SJC and DOJI gold price list updated early afternoon September 8
Early morning of September 8 , SJC 9999 gold price today increased by 150 thousand VND/tael for buying and increased by 250 thousand VND/tael for selling compared to the close of yesterday's session.
The price of 9999 gold was updated by Saigon Jewelry Company Limited (SJC) at 8:28 am and the price of 9999 gold was listed by Doji Jewelry Group at 8:49 am as follows:
| Buy | Sell out | |
| SJC Hanoi | 68,200,000 VND/ounce | 68,920,000 VND/tael |
| SJC HCMC | 68,200,000 VND/ounce | 68,900,000 VND/tael |
| SJC Danang | 68,200,000 VND/ounce | 68,920,000 VND/tael |
| Doji Hanoi | 68,100,000 VND/tael | 68,900,000 VND/tael |
| Doji Ho Chi Minh City | 68,000,000 VND/tael | 68,700,000 VND/ounce |
SJC and DOJI gold price list updated early morning September 8
At the close of trading on September 7th, the price of 9999 gold bars at SJC Ho Chi Minh City was 68.05 million VND/ounce (buying price) and 68.65 million VND/ounce (selling price). SJC Hanoi listed the price at 68.05 million VND/ounce (buying price) and 68.67 million VND/ounce (selling price).
Doji Hanoi listed gold at 67.9 million VND/ounce (buying price) and 68.65 million VND/ounce (selling price). Doji Ho Chi Minh City bought SJC gold at 67.8 million VND/ounce and sold it at 68.5 million VND/ounce.
The central exchange rate on September 8 announced by the State Bank is 23,993 VND/USD, an increase of 14 VND compared to yesterday. The USD price at commercial banks this morning (September 8) was traded around 23,870 VND/USD (buy) and 24,240 VND/USD (sell).
International gold price today September 8
At 9:02 a.m. today (September 8, Vietnam time), the world spot gold price stood at around 1,925.4 USD/ounce, down 13.6 USD/ounce compared to last night. The price of gold futures for December delivery on the Comex New York floor was at 1,949.3 USD/ounce.
On the morning of September 8, world gold converted to USD bank price was nearly 56.27 million VND/tael (excluding tax and fees), about 12.65 million VND/tael lower than domestic gold price.
On the world market, the spot gold price on Kitco floor on September 7 (at 8:00 p.m., Vietnam time) was trading at 1,939 USD/ounce.
According to the US Department of Labor, weekly jobless claims fell by 13,000 to 216,000, lower than expected. This news negatively impacted the gold market.
Gold futures for December delivery were trading at $1,941.10 per ounce, down 0.16% on the day.
According to some analysts, better-than-expected employment figures have impacted the market, easing concerns about a recession. Recent economic data is seen as a basis for the US Federal Reserve (FED) to halt its monetary tightening policy.
According to CME's FedWatch tool, markets are expecting a 93% probability that the Fed will pause interest rate hikes in September 2023.
Meanwhile, the USD reached its highest level since March 16th. US Treasury bond yields continued to rise.
Gold price forecast
Matt Simpson, senior analyst at City Index, said gold’s 200-day moving average is around $1,920 an ounce. Gold prices could fall if interest rates continue to rise sharply.
NAB Commodities Research, a market research firm, forecasts a recovery in gold prices as the Fed is expected to cut interest rates in 2024.
Prior to that, the price of gold was projected to rise to an average of $1,968 per ounce in the final quarter of this year.
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