SJC gold bar price
Price of 9999 gold rings
As of 6:00 AM, the price of 9999 Hung Thinh Vuong gold rings at DOJI was listed at 77.9-79.1 million VND/ounce (buying price - selling price); unchanged.
Bao Tin Minh Chau lists the price of gold rings at 77.88-79.08 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 2:00 AM on September 14th, the world gold price listed on Kitco was at $2,577.7 USD/ounce, a slight decrease of $3 USD/ounce.
Gold price forecast
Global gold prices remained high amidst a decline in the US dollar index. At 00:00 on September 15th, the US Dollar Index, which measures the fluctuations of the greenback against six major currencies, stood at 101.120 points (down 0.23%).
Experts believe that gold prices are receiving significant support.
"Gold is rising because it's in a bull market (an upward trend). In the long term, the upward trend in gold is clearly being driven by geopolitical violence and tensions ahead of the US election," Reuters quoted Adrian Ash, Director of Research at Bullionvault, as saying.
This gold expert added that, aside from central banks in emerging markets continuously offering to buy gold, current activity remains limited to speculative trading in derivative contracts, not physical gold bullion.
According to Kitco, Ole Hansen, Head of Commodity Strategy at Saxo Bank, describes this price surge as a compressed spring that has finally sprung.
He added that recent economic data reinforces the possibility of interest rate cuts, not only by the Fed but also by many other central banks globally.
Many analysts note that falling global real yields as central banks cut interest rates will provide significant impetus for gold.
Colin Cieszynski, portfolio manager and market strategist at SIA Wealth Management, forecasts that gold prices will rise higher in the coming months.
However, he warned of market volatility next week, and said the market must first overcome 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 remains cautious, stating that he is not yet ready to pursue this breakthrough. He explains that there is still too much uncertainty surrounding the Fed's upcoming monetary policy decision.
Accordingly, the market is currently forecasting a 43% probability that the US Federal Reserve will decide on a 50-basis-point rate cut next week.
Cieszynski noted that if the Fed chooses to cut interest rates by 25 basis points, gold prices risk facing some selling pressure. Economists call 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
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