SJC gold price plummets following world price

Domestic gold price today September 21

On the afternoon of September 21 , today's SJC 9999 gold price decreased by 150 thousand VND/tael in both buying and selling compared to the morning.

The price of 9999 gold was updated by Saigon Jewelry Company Limited (SJC) at 3:48 p.m. and the price of 9999 gold was listed by Doji Jewelry Group at 3:12 p.m. as follows:

	Buy	Sell
SJC Hanoi	68,350,000 VND/tael	69,070,000 VND/tael
SJC HCMC	68,350,000 VND/tael	69,050,000 VND/tael
SJC Danang	68,350,000 VND/tael	69,070,000 VND/tael
Doji Hanoi	68,400,000 VND/tael	69,300,000 VND/tael
Doji HCMC	68,450,000 VND/tael	69,150,000 VND/tael

SJC and DOJI gold price list updated early afternoon September 21

Early morning of September 21, SJC 9999 gold price today remained unchanged compared to yesterday's closing price.

The price of 9999 gold was updated by Saigon Jewelry Company Limited (SJC) at 8:55 a.m. and the price of 9999 gold was listed by Doji Jewelry Group at 8:38 a.m. as follows:

	Buy	Sell
SJC Hanoi	68,500,000 VND/tael	69,220,000 VND/tael
SJC HCMC	68,500,000 VND/tael	69,200,000 VND/tael
SJC Danang	68,500,000 VND/tael	69,220,000 VND/tael
Doji Hanoi	68,400,000 VND/tael	69,300,000 VND/tael
Doji HCMC	68,500,000 VND/tael	69,200,000 VND/tael

SJC and DOJI gold price list updated early morning September 21

At the end of the trading session on September 20, the domestic 9999 gold price was listed by SJC and Doji Gold and Gemstone Group in the following order of buying and selling:

SJC Hanoi: 68,500,000 VND/tael - 69,220,000 VND/tael
Doji Hanoi: 68,550,000 VND/tael - 69,400,000 VND/tael
SJC HCMC: 68,500,000 VND/tael - 69,200,000 VND/tael
Doji HCMC: 68,550,000 VND/tael - 69,250,000 VND/tael

The central exchange rate on September 21 announced by the State Bank is 24,063 VND/USD, down 16 VND compared to yesterday. The USD price at commercial banks this morning (September 21) was traded around 24,110 VND/USD (buy) and 24,480 VND/USD (sell).

International gold price today September 21

At 9:09 a.m. today (September 21, Vietnam time), the world spot gold price stood at around 1,926.8 USD/ounce, down 5.2 USD/ounce compared to last night. The price of gold futures for December delivery on the Comex New York floor was at 1,946.8 USD/ounce.

Fluctuations in international gold prices in the past 24 hours (Photo: Kitco)

On the night of September 20 (Vietnam time), the world spot gold price stood at around 1,932 USD/ounce. Gold for December delivery on the Comex New York floor was at 1,962 USD/ounce.

The world gold price on the night of September 20 was about 5.9% higher (108 USD/ounce) than at the beginning of 2023. World gold converted to the bank USD price was 57.6 million VND/tael, including taxes and fees, about 11.7 million VND/tael lower than the domestic gold price as of the end of the afternoon session on September 20.

*Gold prices on the world market remain stable. (Photo: KC)*

Gold prices on the international market are moving sideways, waiting for clearer policy clues from the US Federal Reserve (Fed). Domestically, gold prices are still hovering at a historical peak, around VND69.25 million/tael.

World gold moved sideways in the context of the USD not fluctuating much when the Fed did not have any unexpected moves compared to market forecasts.

The US dollar is hanging high with the DXY index around 105 points as Fed officials remain hawkish.

The USD remains supported by loose monetary policies in many countries.

However, on September 19, the People's Bank of China (PBOC) surprised everyone by deciding to keep the basic interest rate unchanged, despite the country's economy showing not-so-positive signals.

As for the US, high oil prices mean the world's number 1 economy may not be able to make a "soft landing".

Gold Price Forecast

Historically, high energy prices have pushed the United States into recessions, such as in the 1970s, 1980s, and 1990s. High inflation has caused consumer demand to decline, thereby dragging down the economy.

If this is the case, the USD will be negatively affected.

However, when investors bet on a weakening US economy, money often seeks safe havens, including gold and the US dollar.

In the short term, the USD is expected to continue to increase or stabilize at a high level because the Fed is expected to raise interest rates once more to pull up inflation, which is still quite high compared to the 2% target.

Precious metals are therefore under further downward pressure. However, demand for gold has recently increased and may increase further during the upcoming peak gold consumption season, which is the end of the year in the West and the Lunar New Year in some Asian countries, including China.

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