World gold prices fell slightly.

Gold price today, September 28, 2024

As of 5:00 AM on September 28, 2024, the gold prices on the exchanges of several companies were as follows:

Today, DOJI lists the price of 9999 gold at 81.5 million VND/ounce for buying and 83.5 million VND/ounce for selling.

Gold prices today, September 28, 2024. Photo: PC

Meanwhile, at Mi Hong Gold and Gemstone Company, the price of SJC gold listed at the time of the survey was 83-83.5 million VND/ounce (buying price - selling price).

At Bao Tin Minh Chau Co., Ltd., the price of SJC gold is also being traded at 81.5-83.5 million VND/ounce (buying price - selling price). Meanwhile, at Bao Tin Manh Hai, it is being traded at 81.6-83.5 million VND/ounce (buying price - selling price).

The latest gold price list for today, September 28, 2024, is as follows:

Gold price today	September 28, 2024 (Million VND)		Difference (thousand dong/ounce)
	Buy	Sell	Buy	Sell
SJC in Hanoi	81.5	83.5	But	But
DOJI Group	81.5	83.5	But	But
Mi Hong	83.0	83.5	But	But
PNJ	81.5	83.5	But	But
Vietinbank Gold	But	83.5	But	But
Bao Tin Minh Chau	81.5	83.5	But	But
Bao Tin Manh Hai	81.6	83.5	But	But

1. DOJI - Updated: 28/09/2024 08:43 - Website time of supply - ▼ / ▲ Compared to yesterday.
Type	Buy	Sell
AVPL/SJC HN	81,500	83,500
AVPL/SJC HCM	81,500	83,500
AVPL/SJC DN	81,500	83,500
9999 Raw Materials - HN	82,700	84,000
Ingredients 999 - HN	82,600	83,900
AVPL/SJC Can Tho	81,500	83,500

2. PNJ - Updated: 29/09/2024 02:00 - Website time of source - ▼ / ▲ Compared to yesterday.
Type	Buy	Sell
Ho Chi Minh City - PNJ	82,500	83,300
Ho Chi Minh City - SJC	81,500	83,500
Hanoi - PNJ	82,500	83,300
Hanoi - SJC	81,500	83,500
Da Nang - PNJ	82,500	83,300
Da Nang - SJC	81,500	83,500
Western Region - PNJ	82,500	83,300
Western Region - SJC	81,500	83,500
Gold jewelry prices - PNJ	82,500	83,300
Gold jewelry prices - SJC	81,500	83,500
Gold jewelry prices - Southeast Vietnam	PNJ	82,500
Gold jewelry prices - SJC	81,500	83,500
Gold jewelry prices - Gold jewelry prices	PNJ Plain Ring 999.9	82,500
Gold jewelry prices - 999.9 gold jewelry	82,400	83,200
Gold jewelry prices - 999 gold jewelry	82,320	83,120
Gold jewelry prices - 99% pure gold jewelry	81,470	82,470
Jewelry gold price - 916 (22K) gold	75,810	76,310
Jewelry gold price - 750 (18K) gold	61,150	62,550
Jewelry gold price - 680 gold (16.3K)	55,330	56,730
Jewelry gold price - 650 gold (15.6K)	52,830	54,230
Jewelry gold price - 610 gold (14.6K)	49,500	50,900
Jewelry gold prices - 585 Gold (14K)	47,420	48,820
Jewelry gold price - 416 Gold (10K)	33,360	34,760
Jewelry gold price - 375 (9K) gold	29,950	31,350
Jewelry gold price - 333 Gold (8K)	26,210	27,610

3. AJC - Updated: 28/09/2024 00:00 - Time on source website - ▼ / ▲ Compared to yesterday.
Type	Buy	Sell
99.99 Jewelry	8,190	8,410
99.9% Jewelry	8,180	8,400
NL 99.99	8,200
Round ring, not blister-packed, T.Binh	8,200
N.Tron, 3A, D.Vang T.Binh	8,270	8,350
N.Tron, 3A, D.Vang N.An	8,270	8,350
N.Tron, 3A, Vang Street, Hanoi	8,270	8,350
SJC Thai Binh gold	8,150	8,350
SJC Nghe An	8,150	8,350
SJC Hanoi	8,150	8,350

4. SJC - Updated: 27/09/2024 08:23 - Time of issue on source website - ▼ / ▲ Compared to yesterday.
Type	Buy	Sell
SJC 1L, 10L, 1KG	81,500	83,500
SJC 5c	81,500	83,520
SJC 2c, 1C, 5 phân	81,500	83,530
SJC 99.99 gold rings, 1 tael, 2 taels, 5 taels.	81,500	83,000
SJC 99.99 gold rings, 0.3 tael, 0.5 tael	81,500	83,100
99.99% Authentic Jewelry	81,450	82,700
99% Jewelry	79,881	81,881
Jewelry 68%	53,892	56,392
Jewelry 41.7%	32,139	34,639

World gold price today, September 28, 2024, and chart of world gold price fluctuations over the past 24 hours.

According to Kitco, the spot price of gold in the world market at 5:00 AM Vietnam time today was $2,653.42 USD/ounce. Today's gold price is down 0.7% compared to yesterday's price. Converted using the current exchange rate at Vietcombank, the world gold price is approximately VND 77.755 million per tael (excluding taxes and fees). Therefore, the price of SJC gold bars is still VND 3.745 million per tael higher than the international gold price.

Chart showing the price movement of gold in the world market over the past 24 hours.

After reaching record highs over the past six days, the gold market is taking a break as it faces some technical selling pressure heading into the weekend.

Strong buying pressure pushed gold prices above $2,700 an ounce on Thursday. However, some analysts are expressing growing concern that the precious metal's rally may be a little too much. December gold futures last traded at $2,669 an ounce, down nearly 1% for the day; however, prices were up almost 1% from last Friday.

“ After hitting a series of new record highs following the surprising US interest rate cuts, prices are showing signs of stabilizing. Some degree of buying fatigue is starting to emerge, raising the question of whether we are nearing a long-overdue consolidation or even a correction. Based on my estimates, prices could fall 4–6% without damaging overall bullish sentiment, ” said Ole Hansen, Head of Commodity Strategy at Saxo Bank.

Hansen added that he sees initial support at $2,670 an ounce and if that is broken, the next level to watch is $2,547. In the worst-case scenario, gold could fall to support at $2,500.

Alex Kuptsikevich, senior market analyst at FxPro, said he also sees little room for further price increases in gold, which raises the risk of a correction.

“ Technically, gold has surpassed the 161.8% level of the two-year rally since August 2018—a typical bullish extension pattern along Fibonacci levels. Once the price has moved so far into the historical highs area, finding new upside targets becomes more difficult ,” he explained.

Looking ahead, Kuptsikevich noted that next week's employment data could pose some risks to gold.

“ The sharp rise in gold prices over the past three weeks is the most dangerous part of the trend for short-term traders who enter the sell without a reliable signal. On the weekly timeframe, such a signal would be a negative weekly close ,” he said. “ We could get this signal as early as next Friday. The release of monthly US labor market data will reinforce its importance to the market .”

However, some analysts believe gold still has momentum. Bart Melek, Head of Commodity Strategy at TD Securities, said he expects gold prices to rebound above $2,700, his year-end target. Last week, TDS exited a tactical short position at a loss of over 4% as the bank was positioning itself for market disappointment following the Fed meeting.

After cutting interest rates by 50 basis points and signaling that rates could fall to 3% by 2026, Melek said the Fed is clearly in dovish mode, which bodes well for gold.

Melek added that gold remains in a favorable position as the Federal Reserve lowers interest rates to support a weakening labor market, even as inflation remains high.

On Friday, the core U.S. Personal Consumption Expenditures (PCE) index, which excludes volatile food and energy costs and is the preferred measure of inflation by the U.S. central bank, showed consumer prices remain high. The data showed U.S. PCE rose 2.7% over the past 12 months, up from 2.6% in July.

However, inflation only rose by 2.2% due to falling energy prices.

Economists note that the core PCE index remains high, indicating that inflation is impacting the economy as a whole.

Melek said: " The Federal Reserve is clearly focused on the latter half of its dual mandate, which is full employment, and this creates a perfect environment for gold. There are risks that inflation will remain high and with nominal interest rates falling, real interest rates will fall even faster ."

James Stanley, Senior Market Strategist at Forex.com, also predicts that gold prices will rise much higher.

“ Gold is currently in overbought territory on the monthly, weekly, and daily charts, but that doesn’t matter as the price could continue to rise into overbought zone ,” he noted.

However, while Stanley expects gold prices to rise, he does not recommend chasing the market. Instead, he suggests investors consider buying gold on dips. He sees initial support at $2,650, followed by $2,635 and $2,600.

Despite the potential for short-term volatility, Stanley said that central bank easing, with the Federal Reserve cutting interest rates by 50 basis points and China announcing significant stimulus measures this week, has supported the upward trend in gold prices.

Stanley emphasized that gold remains the only hedge against the devaluation of global currencies as central banks around the world begin to ease interest rates.

“ The world’s two largest economies are currently actively pressuring to boost growth through the stock market. If the stock market rises, consumers will feel more confident in spending money. Gold reflects this acceptance of global easing trends, and there is little reason for this trend to reverse ,” he explained. “ Gold is the only protection investors have against the dilution of global currencies .”

The non-farm payrolls report will be the main event of next week. However, other reports, including open employment figures and manufacturing activity data, are expected to create some volatility. Markets will also be listening closely to what Fed Chairman Jerome Powell will say next week when he speaks at the National Association for Business Economics (NABE) Annual Meeting. This will be Powell's first in-person event since the central bank's monetary policy meeting last week.

“ So far, Fedspeak has rallied around the idea that policymakers need to start easing restrictions. However, while the direction is clear, the pace remains uncertain. Fedspeak next week could clarify this further, with Powell’s outlook at NABE drawing the most attention, ” said fixed-income analysts at TDS.

Here are some recommended addresses for popular gold shops in Hanoi:

1. Bao Tin Minh Chau - 15-29 Tran Nhan Tong Street, Bui Thi Xuan Ward, Hai Ba Trung District, Hanoi

2. DOJI Gold, Silver and Gemstone Company - 5 Le Duan Street, Dien Bien Ward, Ba Dinh District, Hanoi

3. SJC chain of stores in the Northern region - 18 Tran Nhan Tong Street, Nguyen Du Ward, Hai Ba Trung District, Hanoi City

4. PNJ chain store in Northern Vietnam - 222 Tran Duy Hung, Trung Hoa Ward, Cau Giay District, Hanoi

5. Phu Quy Gold and Silver - 30 Tran Nhan Tong Street, Hai Ba Trung District, Hanoi

6. Ngoc Anh Gold and Silver Shop – 47 Lo Duc Street, Pham Dinh Ho Ward, Hai Ba Trung District, Hanoi

7. Quy Tung Gold Shop – 102 Khuong Dinh Street, Thanh Xuan District, Hanoi

8. Bao Tin Lan Vy - 84A Tran Duy Hung Street, Cau Giay District, Hanoi

9. Hoang Anh Gold and Silver Shop – 43 Thai Thinh Street, Dong Da District, Hanoi

10. Huy Thanh Jewelry - No. 23/100 (formerly: No. 30A, Lane 8), Doi Can Street, Ba Dinh District, Hanoi

Here are some recommended addresses of popular gold shops in Ho Chi Minh City:

1. Mi Hong Gold Shop - 306 Bui Huu Nghia Street, Ward 2, Binh Thanh District, Ho Chi Minh City

2. Kim Ngoc Thuy Gold Shop - 466 Hai Ba Trung Street, Tan Dinh Ward, District 1, Ho Chi Minh City

3. Saigon Gold, Silver and Gemstone Company Limited - 418-420 Nguyen Thi Minh Khai Street, Ward 5, District 3, Ho Chi Minh City

4. Tan Tien Gold, Silver and Gemstones - 161 Hanoi Highway, Thao Dien Ward, District 2, Ho Chi Minh City

5. Gold, Silver, Gemstones, and Jade - No. 161 Hanoi Highway, Thao Dien Ward, District 2, Ho Chi Minh City

6. Kim Thanh Thao Gold Shop - 209 Tan Huong Street, Tan Quy Ward, Tan Phu District, Ho Chi Minh City

7. Kim Thanh Nam Gold Shop - 81A Nguyen Duy Trinh Street, Binh Trung Tay Ward, District 2, Ho Chi Minh City

8. Kim Mai Gold Shop - 84C Cong Quynh Street, Pham Ngu Lao Ward, District 1, Ho Chi Minh City

9. PNJ chain store in Southern Vietnam - Booth R011838, Ground floor, Diamond Plaza Shopping Center, 34 Le Duan Street, Ben Nghe Ward, District 1, Ho Chi Minh City

10. DOJI Gold, Silver and Gemstone Company – 81-85 Ham Nghi Street, Nguyen Thai Binh Ward, District 1, Ho Chi Minh City

Source: https://congthuong.vn/gia-vang-hom-nay-2892024-vang-the-gioi-giam-nhe-348872.html