Gold rings anchor high, the world breaks out

Gold price update morning of September 16: Gold rings anchor high, world breaks out — 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 an investment decision.

World gold price

As of 6:00 a.m. on September 16, the world gold price listed on Kitco was at 2,577.7 USD/ounce, unchanged.

Gold price forecast

World gold prices are anchored high in the context of the USD index falling. Recorded at 6:00 a.m. on September 16, the US Dollar Index, which measures the greenback's fluctuations against six major currencies, was at 101,120 points (down 0.23%).

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

The precious metal has come a long and bumpy way, and the upcoming monetary policy decision will mark the beginning of a new journey, experts say.

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

Thirteen analysts participated in the Kitco News gold survey this week. The majority of experts remain bullish on gold. Eight experts expect gold prices to rise next week. Three others believe gold will trade lower this week. Two analysts predict the precious metal will trade sideways.

Meanwhile, 189 votes were cast in Kitco's online poll. 107 traders expect gold prices to rise this week. While 47 expect the precious metal to fall. The remaining 35 respondents predict gold prices to be flat this week.

Mr. Alex Ebkarian - CEO of Allegiance Gold company, said that economic data is creating conditions for the FED to lower interest rates, thereby making gold more attractive to investors.

In addition, the demand for “safe haven” has also increased recently in the context of ongoing geopolitical conflicts in many parts of the world. Central banks around the world have started buying gold, which is one of the factors affecting gold prices.

Mr. Heng Koon How - Head of Market Strategy, UOB Bank, said that gold prices could increase to 2,700 USD/ounce by mid-2025 and potentially reach 3,000 USD/ounce in the long term after that.

Source: https://laodong.vn/tien-te-dau-tu/cap-nhat-gia-vang-sang-169-vang-nhan-neo-cao-the-gioi-but-pha-1394355.ldo