Gold prices for rings surge, breaking new records.

Domestic gold ring prices continued to rise in the first trading session of the week. (Illustration photo: Phan Anh)

SJC gold bar price

As of 9:45 AM, the price of SJC gold bars listed by DOJI Group was 78.5 - 80.5 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.

Gold price update this morning. Source: Rong Viet Online Services Joint Stock Company (VDOS).

Gold price movements in SJC. Source: Rong Viet Online Services Joint Stock Company (VDOS).

Meanwhile, Saigon Jewelry Company (SJC) listed the price of SJC gold at 78.5 - 80.5 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 was listed at 78-79.2 million VND/ounce (buying price - selling price); an increase of 100,000 VND/ounce in both directions.

Saigon Jewelry Company listed the price of gold rings at 77.9-79.2 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 9:45 AM, the world gold price listed on Kitco was at $2,584 per ounce, an increase of $7 per ounce compared to the beginning of the previous trading session.

Gold price forecast

Global gold prices rose amid a decline in the US dollar index. At 9:45 AM on September 16th, the US Dollar Index, which measures the fluctuations of the greenback against six major currencies, stood at 101.120 points (down 0.14%).

Gold prices are expected to continue breaking records amid investor predictions that the US Federal Reserve (FED) will cut the benchmark interest rate for the first time on September 18, possibly by 25 or 50 basis points (i.e., 0.25% or 0.5%).

Not only the FED, but other central banks such as the European Central Bank (ECB), the Bank of England (BoE), the Bank of Canada, and the Swiss National Bank have also begun their easing cycles.

Last week, the ECB cut interest rates for the second time, and analysts predict further cuts.

As interest rates fall globally, global real yields are also falling, which affects the price of gold. The gold price surge last week actually began against the Euro, shortly after the ECB cut interest rates.

Mark Leibovit, an expert at VR Metals/Resource Letter, predicts that gold prices will rise in the coming days and believes they will peak around the time of the FED meeting.

Meanwhile, senior commodities broker Daniel Pavilonis of RJO Futures suggests that gold prices may decline slightly ahead of the Fed's policy meeting due to profit-taking pressure. The precious metal will likely maintain its price range from the past few weeks while awaiting the next move from the US central bank.

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

This week, 13 analysts participated in Kitco News' gold survey. The majority of experts still have a positive outlook on gold prices. Eight experts expect gold prices to rise this week.

While three other analysts believe gold will trade lower this week, the remaining two experts predict the price of the precious metal will remain flat.

Meanwhile, 189 votes were cast in Kitco's online poll. 107 traders expect gold prices to rise this week.

While 47 respondents expect the precious metal to fall, the remaining 35 predict gold prices will remain stable this week.

Source: https://laodong.vn/tien-te-dau-tu/gia-vang-hom-nay-169-vang-nhan-tang-cao-pha-ky-luc-moi-1394035.ldo