Gold price today September 27, 2024: Domestic gold price "exploded" following the strong upward trend of world gold. The world market is really starting the second price increase and the mark of 3,000 USD/ounce does not seem far away.
| 1. SJC - Updated: 09/26/2024 08:42 - Website time of supply - ▼ / ▲ Compared to yesterday. | ||
| Type | Buy | Sell |
| SJC 1L, 10L, 1KG | 81,500 | 83,500 |
| SJC 5c | 81,500 | 83,520 |
| SJC 2c, 1c, 5 phan | 81,500 | 83,530 |
| SJC 99.99 gold ring 1 chi, 2 chi, 5 chi | 81,300 ▲500K | 82,700 ▲400K |
| SJC 99.99 gold ring 0.3 chi, 0.5 chi | 81,300 ▲500K | 82,800 ▲400K |
| Jewelry 99.99% | 81,200 ▲500K | 82,400 ▲400K |
| Jewelry 99% | 79,584 ▲396K | 81,584 ▲396K |
| Jewelry 68% | 53,688 ▲272K | 56,188 ▲272K |
| Jewelry 41.7% | 32,014 ▲167K | 34,514 ▲167K |
Update gold price today 9/27/2024
World gold price increased the most ever, break records
Gold futures closed at 2,684.7 USD/ounce, up 0.3%, the biggest increase for gold.
In the context of geopolitical tensions emerging in many places, as well as strong stimulus measures from major economies, the upward trend of gold prices is assessed by many experts - most likely this is not the last increase of the precious metal.
According to the World and Vietnam Newspaper at 10:40 p.m. on September 26 (Hanoi time), world gold trading was at 2,671.10 - 2,672.10 USD/ounce, continuing to increase by 14.01 USD compared to the close of the previous trading session.
Gold’s steady rise this year has investors worried that the bull run may be getting too long. But rest assured, according to Dylan Smith, senior economist at Rosenberg Research, there’s nothing to worry about, as a host of new drivers are continuing to push the precious metal into another rally. And that new rally could quickly surpass $3,000 an ounce.
In an interview with the Financial Post (September 25), expert Smith was asked whether he believed the gold price rally could continue after the yellow metal has risen so quickly so far? - "Gold is actually seeing two separate price increases, each with separate dynamics, which means the next phase of the bull market is just beginning," the senior economist at Rosenberg Research confidently replied.
In fact, the combination of economic and geopolitical factors has significantly strengthened the appeal of gold as a safe haven, causing the precious metal to skyrocket to unprecedented highs. Geopolitical tensions in many regions of the world such as the Middle East, Russia-Ukraine... continue to escalate as well as the world's leading economies such as the US and China introduce a number of stimulus measures, which are also considered important reasons for the strong fluctuations in gold prices.
In addition, the results of the US presidential election, as well as the strong demand for gold as Christmas and the wedding season approach, will be a series of factors that will make gold prices "fluctuate" and become more unpredictable.
Domestic gold prices "exploded" following the strong upward trend of world gold.
The price of SJC gold bars increased sharply to 83.5 million VND/tael for sale. Currently, strong brands including Saigon Jewelry Company, DOJI Group, Phu Quy and Bao Tin Minh Chau... all listed the price of SJC gold bars at the same price of 81.5 - 83.5 million VND/tael (buy - sell).
The price of plain round gold rings continued to explode strongly in the trading session on September 26. The fact that the domestic gold ring price has increased by more than 30% since the beginning of the year shows that this is a quite attractive investment channel. So should we continue to invest in gold rings at this time? Experts recommend that although gold has the potential for long-term growth, it can also go through periods of strong fluctuations. Therefore, investors who want stable profits in the short term need to consider carefully, and closely monitor economic and geopolitical factors.
At the end of the trading session, Saigon Jewelry Company adjusted the price of gold rings to 81.3 - 82.7 million VND/tael, an increase of 400,000 VND/tael for both buying and selling. Bao Tin Minh Chau recorded a new increase of 82.18 - 83.28 million VND/tael, an increase of 350,000 VND/tael compared to the previous session. Doji's Hung Thinh Vuong 9999 round gold ring price was listed at 82.50 - 83.35 million VND/tael, an increase of 550,000 VND/tael for buying and 400,000 VND/tael for selling.
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| Gold price today September 27, 2024: Gold price increased the most ever, starting the second price increase; domestic gold ring price 'exploded'. (Source: Kitco News) |
Summary of SJC gold bar prices at major domestic trading brands at closing times of trading session on the afternoon of September 26:
Saigon Jewelry Company: SJC gold bars 81.5 - 83.5 million VND/tael; SJC gold rings 81.3 - 82.7 million VND/tael.
Doji Group: SJC gold bars 81.5 - 83.5 million VND/tael; 9999 round rings (Hung Thinh Vuong): 82.50 - 83.35 million VND/tael.
PNJ system: SJC gold bars 81.5 - 83.5 million VND/tael;
Phu Quy Gold and Silver Group: SJC gold bars: 81.5 - 83.5 million VND/tael; Phu Quy 999.9 round gold rings: 82.10 - 83.20 million VND/tael.
SJC gold price at Bao Tin Minh Chau is listed at: 81.5 - 83.5 million VND/tael. The price of plain round gold rings at Vang Rong Thang Long is listed at 82.18 - 83.28 million VND/tael.
World gold prices are entering the second increase
"I think we've seen a huge move in gold over the past week since the Fed made a big rate cut - 50 basis points. I think there's a major shift going on in the gold market, a lot of factors are driving gold prices up compared to the big rallies we saw earlier this year. We think there's going to be a lot more volatility," said expert Dylan Smith.
Rosenberg Research experts have held a global gold price target of $3,000 or more for some time now and they do not see the need for a correction. In fact, they see even greater momentum.
“With the early-year rally and then the recent rally, we’re at a point where we’ve basically had two separate 14% to 15% gold rallies,” says Dylan Smith, an analyst. “The new world gold dynamic is showing huge demand from central banks, and that demand is still there, still supporting higher gold prices. For example: Cautious demand from emerging markets - where there’s a risk of de-dollarization, or where inflation is very high. The world market is also seeing huge demand for gold jewelry from India at the end of the year... All of these are creating real fundamental momentum for gold prices.
In the short term, Senior Market Strategist James Stanley, at the Forex trading floor, assessed that although there may be short-term price adjustments against the market trend, the market is still very excited about this safe asset channel.
Looking at the shorter term, Phillip Streible, market strategist at Blue Line Futures, said: “Gold prices could rise to $2,700/ounce in the next 1-2 days if the US labor market continues to weaken and if Fed officials reiterate the possibility of a 0.5 percentage point interest rate cut.”
Source: https://baoquocte.vn/gia-vang-hom-nay-2792024-gia-vang-tang-manh-nhat-tu-truoc-den-nay-khoi-dong-dot-len-gia-thu-2-gia-vang-nhan-trong-nuoc-bung-no-287746.html
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