Domestic gold price today 23/9
Early morning 23/9, the price of gold 9999 of SJC today increased by 100 thousand dong/tael in both buying and selling direction compared to the end of yesterday session.
Gold price 9999 was updated by Saigon Jewelry Company Limited (SJC) at 8:34 ′ as follows:
| Buy into | Sold out | |
| SJC Hanoi | 68.450.000 VND/tael | 69.170.000 VND/tael |
| SJC HCMC | 68.450.000 VND/tael | 69.150.000 VND/tael |
| SJC Da Nang | 68.450.000 VND/tael | 69.170.000 VND/tael |
SJC gold price list updated in the morning of June 23
Closing the session on April 22, the price of 9 gold bars at SJC Ho Chi Minh City was 9999 million dong/tael (buying in) and 68,35 million dong/tael (sold out). SJC Hanoi listed at 69,05 million dong/tael (buying in) and 68,35 million dong/tael (sold out).
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 22/9 announced by the State Bank is 24.060 VND/USD. USD price at commercial banks this morning (April 23) was trading around 9 VND/USD (buying in) and 24.160 VND/USD (selling out).
International gold price today 23/9
At 10:09 am today (July 23, Vietnam time), the world spot gold price stood around the threshold of 1.924,8 USD/ounce, down 0,2 USD/ounce compared to last night. Gold futures for December delivery on the Comex New York exchange were at $12 per ounce.
Morning 23/9, world gold converted at the bank's USD price is 56,92 million dong/tael (excluding taxes and fees), about 12,25 million dong/tael lower than the domestic gold price.
On the world market, the spot price of gold on Kitco (at 20:30 p.m., Vietnam time) traded at 1.925 USD/ounce.
Gold prices increased slightly again after strong selling pressure this week. The gold market is still negatively affected by the monetary policy of the US Federal Reserve (Fed). During the week, the Fed decided to keep interest rates at 5,25 - 5,5%.
At the press conference after the meeting, Fed Chairman Jerome Powell said that the soft landing could be affected by factors beyond the Fed's control.
Officials expect fewer rate cuts in 2024 than previously estimated. Investors fear interest rates could stay higher for longer.
The DXY index (which measures the greenback's fluctuations against 6 major world currencies) traded at 105,5 points.
Gold price forecast
The fact that the Fed continues to raise interest rates is not beneficial for gold prices. Rising interest rates will reduce the attractiveness of gold, increasing the opportunity cost of holding non-interest-bearing assets.
George Milling Stanley, chief strategist at State Street Global Advisors, despite the lack of momentum, gold is likely to hold firmly above the support level of 1.900 USD/ounce. The investment potential in gold is still good.
Axel Merk, Chairman of Merk Investments, said that the possibility of cutting interest rates early next year cannot be ruled out. Gold prices will react to the Fed's comments with a new price increase.
