On the morning of September 21, the price of gold bars of various brands was adjusted up by 200,000 VND in both buying and selling directions. Meanwhile, the price of gold rings "skyrocketed", reaching 80 million VND/tael. Currently, the gold prices of various brands are listed specifically as follows:
SJC gold bars are being sold by Agribank, BIDV, Vietcombank, VietinBank and gold and gemstone companies at VND82 million/tael. On the buying side, the gold price of the brands is listed at VND80 million/tael.
Mi Hong gold price is traded at 81.0 million VND/tael for buying and 82.0 million VND/tael for selling, an increase of 500,000 VND/tael in both directions compared to yesterday. The difference between the two directions is 1,000,000 VND/tael.
At Bao Tin Manh Hai, the buying price of gold is 80.0 million VND/tael and the selling price is 82.0 million VND/tael, an increase of 200,000 VND/tael in both directions compared to yesterday. The difference between the two directions is 2,000,000 VND.
For ring gold, the listed price of SJC 9999 gold is 78.7 million VND/tael for buying and 80 million VND/tael for selling, up 800,000 VND in both directions. DOJI in Hanoi and Ho Chi Minh City markets adjusted the buying and selling prices by 1.2 million VND to 79.3 million VND/tael for buying and 80.4 million VND/tael for selling, respectively. The buying and selling prices of PNJ brand ring gold are listed at 79.3 million VND/tael and 80.35 million VND/tael, up 1.2 million VND for buying and 1.15 million VND for selling.
Bao Tin Minh Chau adjusted the buying price up by 1.2 million VND in both directions to 79.28 million VND/tael for buying and 80.38 million VND/tael for selling. Phu Quy SJC is buying gold rings at 79.25 million VND/tael and selling at 80.35 million VND/tael, an increase of 1.15 million VND in both directions.
World gold increased sharply
According to Kitco, the world gold price recorded at 5:00 a.m. today, Vietnam time, was at 2,621.13 USD/ounce. The gold price increased by 34.46 USD compared to yesterday's gold price. Converted according to the current exchange rate at Vietcombank, the world gold price is about 76.746 million VND/tael (excluding taxes and fees). Thus, the price of SJC gold bars is still 3.254 million VND/tael higher than the international gold price.
The world's yellow metal jumped above $2,600 an ounce on Friday, extending gains fueled by expectations of further interest rate cuts by the US Federal Reserve and concerns about tensions in the Middle East.
Gold’s latest rally was triggered after the Fed kicked off its aggressive easing cycle on Wednesday with a half-percentage-point cut, adding to the appeal of non-interest-bearing gold. Policymakers also projected another half-point cut by year-end, a full point next year and another half-point cut in 2026.
According to financial market analyst Kyle Rodda of Capital.com, in the current environment, gold prices could rise to $2,700-2,800/ounce in the next 12 months.
George Milling-Stanley, head of gold strategy at State Street Global Advisors, said the current gold price action is a fitting reaction to the Fed's latest monetary policy decision.
The Fed’s monetary policy decisions will continue to support gold’s future price targets. In June, Milling-Stanley raised his gold price forecast to $2,200-$2,500 an ounce. He now sees gold trading around $2,500-$2,700 an ounce.
Milling-Stanley sees solid potential for gold prices to rise to $2,700 an ounce by year-end.
Source: https://doanhnghiepvn.vn/kinh-te/gia-vang-ngay-21-9-2024-gia-vang-the-gioi-lap-ky-luc-moi/20240921072906997
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