Update SJC gold price
Price of round gold ring 9999
As of 7:00 p.m. today, the price of 9999 Hung Thinh Vuong round gold rings at DOJI is listed at 77.4-78.55 million VND/tael (buy - sell); down 100,000 VND/tael for buying and down 50,000 VND/tael for selling.
Saigon Jewelry Company listed the price of gold rings at 77.2 - 78.5 million VND/tael (buy - sell); down 100,000 VND/tael in both directions.
Bao Tin Minh Chau listed the price of gold rings at 77.38-78.58 million VND/tael (buy - sell); down 50,000 VND/tael in both directions.
In recent sessions, the price of gold rings has often fluctuated in the same direction as the world market. Investors can refer to the world market and expert opinions before making investment decisions.
World gold price
As of 7:00 p.m., the world gold price listed on Kitco was at $2,489.5/ounce, down $8.3/ounce.
Gold Price Forecast
World gold prices fell amid an increase in the USD index. Recorded at 7:00 p.m. on September 4, the US Dollar Index, which measures the greenback's fluctuations against six major currencies, was at 101.614 points.
The dollar remained near a two-week high, with experts saying a stronger dollar makes gold less attractive to holders of other currencies.
Gold prices have retreated from record highs as investors await the next big catalyst, according to Kitco. The US Federal Reserve’s shift in focus has also played a role in gold’s recent moves.
Recent remarks by Fed Chairman Jerome Powell in Jackson Hole, Wyoming, underscored the central bank’s shift to prioritizing employment in its dual mandate. With inflation expected to hit its 2% target next year, attention is now shifting to potential weaknesses in the labor market.
Investors will also focus on the U.S. jobs report for August 2024, due on Friday (September 6). Economists surveyed by Reuters expect the U.S. economy to have added 165,000 jobs.
Traders now see a 31% chance the Fed will cut rates by 50 basis points at its September 17-18 policy meeting and a 69% chance the Fed will cut rates by 25 basis points.
Forecasting the gold price trend, Daniel Pavilonis, senior market strategist at RJO Futures, said that the scenario of the greenback and rising interest rates is not favorable for commodities in general and gold in particular. However, the trend is still bullish for gold. Pavilonis said that gold is still at high levels and now, more economic data is needed to know more about the trend.
Source: https://laodong.vn/tien-te-dau-tu/cap-nhat-gia-vang-chot-phien-49-dong-loat-sut-giam-nin-tho-cho-doi-1388868.ldo
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