SJC gold dropped sharply, losing the mark of 69 million VND

Domestic gold price today 25/9

In the early afternoon of August 25, SJC's 9999 gold price today decreased by 150 VND/tael in both buying and selling afternoons compared to the morning, losing the mark of 69 million VND/tael.

Gold price 9999 was updated by Saigon Jewelry Company Limited (SJC) at 14:21 ′ as follows:

SJC gold price list updated early afternoon of July 25

Early morning 25/9, the price of 9999 gold of SJC today decreased by 50 thousand dong/tael in both buying and selling direction compared to the end of yesterday session.

Gold price 9999 is updated by Saigon Jewelry Company Limited (SJC) at 8:47 and gold price 9999 is listed by Doji Jewelry Group at 8:36 as follows:

                                   SJC and DOJI gold price list updated early in the morning of June 25

Closing the trading session on September 23, the price of 9999 gold bars at SJC Ho Chi Minh City is 68,45 million VND/tael (buy) and 69,15 million VND/tael (sell). SJC Hanoi listed at 68,45 million VND/tael (buy) and 69,17 million VND/tael (sell). 

Doji Hanoi listed at 68,25 million dong/tael (buy in) and 69,15 million dong/tael (sold out). Doji Ho Chi Minh City bought SJC gold at 68,3 million dong/tael, sold at 69,1 million dong/tael. 

Central exchange rate on 25/9 announced by the State Bank is 24.076 VND/USD, up 16 VND compared to last week. USD price at commercial banks this morning (May 25) was trading around 9 VND/USD (buying) and 24.150 VND/USD (selling).

International gold price today 25/9

At 9:08 am today (July 25, Vietnam time), world spot gold price stood around the threshold of 1.922,6 USD/ounce, down 1,4 USD/ounce compared to last week. Gold futures for August delivery on the Comex New York exchange were at $12 per ounce.

Morning 25/9, world gold converted at the bank's USD price is 56,83 million dong/tael (excluding taxes and fees), about 12,29 million dong/tael lower than the domestic gold price.

On the world market, spot gold price on Kitco closed the last trading session of the week at 1.924 USD/ounce.

Kitco News's latest weekly gold survey shows that analysts are divided in their opinions about gold price developments in the near future.

James Stanley, senior market strategist at Forex.com, sees gold likely to rise this week. According to Stanley, gold prices are benefiting from falling bond yields.

Contrary to Stanley's above opinion, Colin Cieszynski, Chief Market Strategist at SIA Wealth Management, said that gold has had a sideways trend since the beginning of September and continued that trend until the end of the third quarter.

However, retail investors clearly expressed their view that gold prices will increase sharply in the near future. Many opinions have been expressed that the gold price will trade around 1.936 USD/ounce, 12 USD higher than predicted last week.

Adrian Day, Chairman of Adrian Day Asset Management, said that investors have a basis to expect gold prices will increase, because gold is reacting in a positive direction when the US Federal Reserve (Fed) does not increase. interest rates on September 20 due to the risk that the US economy may decline.

Gold price forecast

Last week, 13 Wall Street analysts participated in Kitco News' gold survey. 46% of analysts predict gold prices will increase higher in the near future, another 15% of analysts predict gold prices will decrease. Meanwhile, the remaining 38% think that gold price will go sideways.

591 votes were cast in the online polls. Of these, 292 respondents, equivalent to 49%, think that gold will increase in the near future. Another 208 people, or 35%, expect gold prices to fall, while the remaining 91 people, or 15%, think gold prices will move sideways.