Towering gold anchor ring

Gold price update morning of September 15: Gold ring anchors skyrocket — Illustration: Phan Anh

SJC gold bar price

9999 gold ring price

As of 6:00 a.m., the price of 9999 Hung Thinh Vuong round gold rings at DOJI was listed at 77.9-79.1 million VND/tael (buy - sell); unchanged.

Bao Tin Minh Chau listed the price of gold rings at 77.88-79.08 million VND/tael (buy - sell), unchanged.

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 2:00 a.m. on September 14, the world gold price listed on Kitco was at 2,577.7 USD/ounce, down slightly by 3 USD/ounce.

Gold Price Forecast

World gold prices are anchored high amid a decline in the USD index. Recorded at 0:00 on September 15, the US Dollar Index, which measures the greenback's fluctuations against six major currencies, was at 101.120 points (down 0.23%).

Experts say gold prices are receiving a lot of support.

"Gold is rising because it is in a bull market. In the long term, the upward trend of gold is clearly being driven by geopolitical violence and tensions ahead of the US election," Reuters quoted Adrian Ash, director of research at Bullionvault.

The gold expert added that, apart from central banks in emerging markets constantly buying gold, current moves are still limited to speculative trading in derivatives contracts, not physical gold bullion.

According to Kitco - Ole Hansen - Head of Commodity Strategy at Saxo Bank, described this rally as a compressed spring that has finally snapped.

He added that recent economic data has reinforced the possibility of interest rate cuts, not only by the FED but also by many other central banks around the world.

Many analysts note that falling global real yields as central banks cut interest rates will provide a significant boost to gold.

SIA Wealth Management portfolio manager and market strategist Colin Cieszynski predicts gold prices will move higher in the coming months.

However, he warned of market volatility next week and the market must first get through that volatility.

According to Cieszynski, this is just the beginning of a global easing cycle and gold will rise against all major currencies. However, the expert is still cautious and said that he is not ready to pursue this breakthrough. He explained that there is still too much uncertainty surrounding the upcoming Fed monetary policy decision.

Accordingly, the market is currently predicting about a 43% chance that the US Central Bank will decide on a 50 basis point cut next week.

Cieszynski noted that if the Fed opts for a 25 basis point cut, gold prices would be at risk of some selling pressure. Economists have called the upcoming decision a “game of chance.”

Source: https://laodong.vn/tien-te-dau-tu/cap-nhat-gia-vang-sang-159-vang-nhan-neo-cao-chot-vot-1393980.ldo