Gold price today September 29, 2024, gold price increased sharply, continuously surpassing all records, can reach 3,000 USD/ounce? Gold ring price skyrocketed, closely following SJC gold bars.
| 1. SJC - Updated: 09/27/2024 08:23 - 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 | 81,500 | 83,000 |
| SJC 99.99 gold ring 0.3 chi, 0.5 chi | 81,500 | 83,100 |
| Jewelry 99.99% | 81,450 | 82,700 |
| Jewelry 99% | 79,881 | 81,881 |
| Jewelry 68% | 53,892 | 56,392 |
| Jewelry 41.7% | 32,139 | 34,639 |
Update gold price today 9/29/2024
Domestic gold prices increased sharply last week.
At noon on September 23, the price of gold rings jumped above the 81 million VND/tael mark and set a new record at 81.1 million VND/tael. Meanwhile, the price of SJC gold bars remained at 82 million VND/tael.
Specifically, DOJI Gold and Gemstone Group and Saigon Jewelry Company (SJC) announced the selling price of SJC gold bars at 80 - 82 million VND/tael (buy - sell), keeping the listed price for both buying and selling unchanged compared to the closing price of the early morning session of the same day.
However, in contrast to the price of gold bars, the price of gold rings increased sharply. Specifically, DOJI Gold and Gemstone Group listed the price of gold rings at 79.95 - 81.1 million VND/tael (buy - sell), an increase of 400 thousand VND/tael in the buying direction and an increase of 550 thousand VND/tael in the selling direction compared to the closing price in the early morning of the same day, September 23. Thus, the domestic price of gold rings continued to set a new record with the mark of 81.1 million VND/tael.
After 3 sessions of strong fluctuations in the middle of the week, in the morning session of September 27, in the same direction as the increase in world gold prices, domestic gold ring prices continued to increase and surpassed the 83 million VND/tael mark.
Specifically, Saigon Jewelry Company (SJC) announced the selling price of gold rings at 81.5 - 83 million VND/tael (buy - sell), an increase of 700 thousand VND/tael in both buying and selling compared to the previous session.
Meanwhile, the price of SJC gold bars remained stable compared to September 26. DOJI Gold and Gemstone Group announced the selling price of SJC gold bars at 81.5 - 83.5 million VND/tael (buy - sell).
Although the world gold price decreased in the last session of the week, the domestic gold ring price still increased slightly on the morning of September 28. Specifically, DOJI Gold and Gemstone Group listed the gold ring price at 82.75 - 83.45 million VND/tael (buy - sell), an increase of 100 thousand VND/tael in both buying and selling compared to the previous session's close.
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| Gold price today September 29, 2024: Gold price in the chaotic period of the increase, continuously surpassing all records, gold rings cause shock, buyers make big profits. (Source: Kitco News) |
Summary of SJC gold bar and gold ring prices at major domestic trading brands at the closing time of September 28:
Saigon Jewelry Company: SJC gold bars 81.5 - 83.5 million VND/tael; SJC gold rings 81.5 - 83 million VND/tael.
Doji Group: SJC gold bars 81.5 - 83.5 million VND/tael; 9999 round rings (Hung Thinh Vuong) 82.75 - 83.45 million VND/tael.
PNJ system: SJC gold bars 81.5 - 83.5 million VND/tael; PNJ 999.9 plain gold rings at 82.5 - 83.3 million VND/tael.
Phu Quy Gold and Silver Group: SJC gold bars: 81.7 - 83.5 million VND/tael; Phu Quy 999.9 round gold rings: 82.6 - 83.45 million VND/tael.
SJC gold price at Bao Tin Minh Chau is listed at 81.5 - 83.5 million VND/tael; plain gold rings are traded at 82.54 - 83.44 million VND/tael.
Thus, compared to the first session of the week on September 23, the price of Doji Group's gold rings increased by VND 2.8 million/tael for buying and VND 2.35 million/tael for selling.
According to The Gioi & Viet Nam Newspaper , at 4:48 p.m. on September 28 (Vietnam time), the world gold price at goldprice.org was at 2,658.34 USD/ounce, down 14.29 USD/ounce compared to the previous trading session.
Converted according to the USD price at Vietcombank on September 28, 1 USD = 24,760 VND, the world gold price is equivalent to 79.3 million VND/tael, 4.2 million VND/tael lower than the selling price of SJC gold bars.
Despite starting the week with a decline, the world gold price continuously recorded record highs in the following trading sessions. As the third quarter of 2024 is about to end, the gold price is heading for the strongest quarter in more than 8 years, in the context that the Federal Reserve (Fed) has initiated a roadmap to loosen monetary policy - a factor that increases the attractiveness of this precious metal.
After many volatile sessions, by the end of the week of September 27, gold prices reversed and cooled down due to the trend of selling off to take profits. At the end of this session, spot gold prices decreased by 1% to 2,643.88 USD/ounce. US gold futures prices decreased by 0.9% to 2,668.1 USD/ounce.
Thus, gold - considered a hedge against economic and geopolitical instability - increased in price by about 14% in the third quarter of 2024, the strongest increase since the first quarter of 2016, and increased by about 28% since the beginning of the year - the strongest increase in 14 years.
The latest Kitco News weekly gold survey shows industry professionals are balanced between bullish and bearish in the near term, while retail investors remain bullish but more limited on gold’s potential gains next week.
“Up,” said Darin Newsom , senior market analyst at Barchart.com. “A market will maintain its current trend until it is impacted by an external force. That external force is usually investor activity, and with the likelihood of global turmoil only increasing in the coming month, investors are unlikely to change their minds about gold as a safe haven.”
“I see lower gold prices as I believe this rally is driven by FOMO and traders chasing gains using derivatives,” said Ole Hansen , head of commodity strategy at Saxo Bank. “In the short term, physical demand is likely to dry up until investors adjust to these new, higher prices.”
Meanwhile, Adrian Day , chairman of Adrian Day Asset Management, said: “It’s not going to change. Over the next six and 12 months, I couldn’t be more optimistic that Western investors are finally starting to buy gold,” he added, “but the market won’t go up forever.”
The big news of the week is China's attempt to 're-inflation', says Marc Chandler, CEO at Bannockburn Global Forex.
“Even as Chinese retail gold demand has slowed, demand from India still looks strong,” he said.
“The US jobs report next week is very important,” Chandler added. “A weak number could push gold higher.”
This week, 14 analysts participated in the Kitco News Gold Survey, with Wall Street evenly split between bullish and bearish on the price action. Six experts, or 43%, expect gold prices to rise next week, while six others see the precious metal falling. The remaining two analysts, or 14%, see gold trading sideways next week.
Meanwhile, 192 votes were cast in Kitco’s online poll, with the majority of Main Street investors remaining bullish, albeit by a smaller majority than last week. 120 retail traders, or 62%, predict gold prices will rise next week, while 38, or 20%, expect the yellow metal to trade lower. The remaining three respondents, or 17%, see prices holding steady next week.
James Stanley , senior market strategist at Forex.com, is bullish on the week ahead. He said technical indicators across all time frames are showing overbought conditions, but that doesn't mean much for gold as central banks continue to ease. "Gold will only move further into overbought territory," he said.
Daniel Pavilonis , senior commodities broker at RJO Futures, is looking at a pullback in gold prices this weekend amid the election season.
“I think we’re headed for profit-taking. This is a significant move and we don’t know how the US election is going to play out. If you look at the market structure, it looks like gold wants to continue to go up to $3,000, but I think there’s a lot of headwinds right now,” he said.
Alex Kuptsikevich , senior market analyst at FxPro, said markets are entering a chaotic phase of the gold rally.
“Gold has hit all-time highs in each of the last six trading days,” he noted. “The $2,685/oz level on September 26 was followed by the strongest selling since September 18.”
Kuptsikevich said short-term intraday profit-taking “is both a driver for further gains and a sign of uncertainty at this stage of the market.”
Michael Moor , Founder of Moor Analytics, said the technical picture suggests prices will fall in the near term.
And Kitco senior analyst Jim Wyckoff expects gold prices to fall in the near term. “Weaker because the market is overbought in the short term, technically, and there is a correction coming,” he said.
Source: https://baoquocte.vn/gia-vang-hom-nay-2992024-gia-vang-trong-gia-doan-hon-loan-cua-dot-tang-lien-tuc-vuot-moi-ky-luc-vang-nhan-gay-soc-nguoi-mua-loi-to-288045.html
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