SJC gold prices fell in both directions.

  Domestic gold prices today, September 12th.

Early this morning, September 12th , the price of 9999 gold from SJC decreased by 50,000 VND/ounce in both buying and selling prices compared to the closing price yesterday.

The price of 9999 gold was updated by Saigon Jewelry Company Limited (SJC) at 8:35 AM, and the price of 9999 gold was listed by Doji Gold and Jewelry Group at 8:35 AM as follows:

	Buy	Sell
SJC Hanoi	68,150,000 VND/ounce	68,870,000 VND/ounce
SJC Ho Chi Minh City	68,150,000 VND/ounce	68,850,000 VND/ounce
SJC Da Nang	68,150,000 VND/ounce	68,870,000 VND/ounce
Doji Hanoi	68,100,000 VND/ounce	68,900,000 VND/ounce
Doji Ho Chi Minh City	68,150,000 VND/ounce	68,850,000 VND/ounce

Updated gold prices for SJC and DOJI at the beginning of the morning on September 12th.

At the close of trading on September 11th, the price of 9999 gold bars at SJC Ho Chi Minh City was 68.2 million VND/ounce (buying price) and 68.9 million VND/ounce (selling price). SJC Hanoi listed the price at 68.2 million VND/ounce (buying price) and 68.92 million VND/ounce (selling price).

Doji Hanoi listed gold at 68.1 million VND/ounce (buying price) and 68.9 million VND/ounce (selling price). Doji Ho Chi Minh City bought SJC gold at 68.15 million VND/ounce and sold it at 68.85 million VND/ounce.

Gold continues its downward trend. (Image: Kitco)

The central exchange rate for September 12th, announced by the State Bank of Vietnam, is 23,981 VND/USD, a decrease of 24 VND compared to yesterday. The USD price at commercial banks this morning (September 12th) is trading around 23,870 VND/USD (buying) and 24,240 VND/USD (selling).

International gold prices today, September 12th.

At 9:21 AM today (September 12th, Vietnam time) , the spot price of gold in the world market stood around $1,922.5 per ounce, down $5.5 per ounce compared to last night. The December gold futures contract on the Comex New York exchange was at $1,945.6 per ounce.

On the morning of September 12th , the world gold price, converted using the bank's USD exchange rate, was nearly 56.2 million VND/ounce (excluding taxes and fees), approximately 12.67 million VND/ounce lower than the domestic gold price.

International gold price fluctuations over the past 24 hours (Image: Kitco)

On the global market, the spot gold price on the Kitco exchange on September 11th (at 8 PM, Vietnam time) was trading at $1,928 per ounce.

Although the US dollar reversed its upward trend and fell in the first trading session of the new week, experts assert that this does not yet indicate a new upward trend for gold prices.

Precious metals experts believe gold is stuck in a downtrend. Edward Moya, senior market analyst at OANDA, said the continued appreciation of the US dollar remains the reason gold is stuck.

Colin Cieszynski, market strategist at SIA Wealth Management, said that gold is unlikely to see a major shift in the near future. He believes gold is likely to rise slightly, but will remain stuck in low price ranges.

The biggest factors impacting gold at the moment are the release of the US August consumer price index and producer price index on September 13-14 (US time). Additionally, investors are also monitoring US retail sales for August and the interest rate of the European Central Bank (ECB).

Experts believe that if the US CPI for August rises as predicted, the opportunities for gold will diminish. This is because a US Federal Reserve (Fed) interest rate hike will support a rebound in the US dollar, thus increasing gold transaction and storage costs, making the precious metal less attractive to investors.

Gold price forecast

Marc Chandler, CEO of Bannockburn Global Forex, predicts that gold prices will soon be in the resistance zone of $1,935 - $1,940 per ounce. If gold breaks through that level, it could reach $1,950 per ounce. On the other hand, if it fails to break through $1,915 per ounce, gold could fall back to $1,900 per ounce.

Daniel Pavilonis, a senior commodities broker at RJO Futures, also believes that bond yields remain the primary driver of gold prices.

Gold will likely remain stuck in the price range of $1,900 to $2,000 per ounce for quite some time.

Source: https://vietnamnet.vn/gia-vang-hom-nay-12-9-vang-sjc-giam-o-ca-2-chieu-2188327.html