Domestic gold price today 11.9
Early morning of September 11, the price of SJC 9999 gold today increased by 50 thousand VND/tael in both buying and selling compared to the end of last weekend's trading session.
The price of 9999 gold was updated by Saigon Jewelry Company Limited (SJC) at 8:34 a.m. and the price of 9999 gold was listed by Doji Jewelry Group at 8:38 a.m. as follows:
| Buy | Sell | |
| SJC Hanoi | 68,150,000 VND/tael | 68,870,000 VND/tael |
| SJC HCMC | 68,150,000 VND/tael | 68,850,000 VND/tael |
| SJC Danang | 68,150,000 VND/tael | 68,870,000 VND/tael |
| Doji Hanoi | 68,050,000 VND/tael | 68,850,000 VND/tael |
| Doji HCMC | 68,100,000 VND/tael | 68,800,000 VND/tael |
SJC and DOJI gold price list updated early morning 11.9
At the end of the trading session on September 9, the price of 9999 gold bars at SJC Ho Chi Minh City was 68.1 million VND/tael (buy) and 68.8 million VND/tael (sell). SJC Hanoi listed at 68.1 million VND/tael (buy) and 68.82 million VND/tael (sell).
Doji Hanoi listed at 68.05 million VND/tael (buy) and 68.85 million VND/tael (sell). Doji Ho Chi Minh City bought SJC gold at 68.1 million VND/tael and sold at 68.8 million VND/tael.
The central exchange rate on September 11 announced by the State Bank is 24,005 VND/USD, an increase of 12 VND compared to last weekend. The USD price at commercial banks this morning (September 11) was traded around 23,890 VND/USD (buy) and 24,260 VND/USD (sell).
International gold price today 11.9
At 9:10 a.m. today (September 11, Vietnam time), the world spot gold price stood at around 1,922.5 USD/ounce, up 4.5 USD/ounce compared to last weekend. The price of gold futures for December delivery on the Comex New York floor was at 1,945.4 USD/ounce.
On the morning of September 11, world gold converted to USD bank price was nearly 56.23 million VND/tael (excluding tax and fees), about 12.64 million VND/tael lower than domestic gold price.
On the world market, the spot gold price on Kitco closed the trading session last weekend at 1,918 USD/ounce.
The USD is experiencing a long streak of gains due to signs of more improvement in the US economy. The DXY index rose back to 105 points, pushing gold prices into a downward trend.
Investors are still watching US inflation data, due to be released on September 13, and the US Federal Reserve's monetary policy decision on September 20.
George Milling-Stanley, chief gold strategist at State Street Global Advisors, said that despite investors piling into U.S. dollars and buying Treasury bonds, gold investment buying has not slowed down in recent times, which shows that gold is no less attractive than other investment channels.
Milling-Stanley added that gold remains an attractive investment channel in the context of high US inflation, and gold may even be a strong attraction for investors if the US economy falls into recession.
According to the CME FedWatch tool, traders estimate a 93% chance that the Fed will maintain current interest rates at its meeting on September 20, and 43% think there will be another rate hike before 2024.
Gold Price Forecast
Thirteen Wall Street analysts participated in the Kitco News gold survey last week. Of those, 31% predicted higher prices in the near term, while 38% predicted lower prices and the remaining 31% predicted sideways trading.
Meanwhile, 474 votes were cast in online polls. Of these, 222 respondents, or 47%, said that gold prices will rise in the near future. Another 169, or 36%, predicted that gold prices will fall, while the remaining 83, or 17%, said that gold prices will remain stable.
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