Update SJC gold price
Price of round gold ring 9999
As of 8:00 p.m. today, the price of 9999 Hung Thinh Vuong round gold rings at DOJI is listed at 76.95-78.20 million VND/tael (buy - sell); down 50,000 VND/tael for buying and down 200,000 VND/tael compared to the close of the previous trading session.
Saigon Jewelry Company listed the price of gold rings at 76.8-78.2 million VND/tael (buy - sell); down 200,000 VND/tael for both buying and selling compared to the close of the previous trading session.
Bao Tin Minh Chau listed the price of gold rings at 76.93-78.23 million VND/tael (buy - sell); down 150,000 VND/tael for both buying and selling compared to the close of the previous trading session.
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 6:30 p.m., the world gold price listed on Kitco was at 2,486.6 USD/ounce, down 21.1 USD/ounce compared to the closing price of last week's trading session.
Gold Price Forecast
World gold prices fell sharply despite the decline in the USD index. Recorded at 6:30 p.m. on August 19, the US Dollar Index, which measures the greenback's fluctuations against six major currencies, was at 102.085 points (down 0.22%).
Growing speculation that the US Federal Reserve (FED) could cut interest rates in September 2024, rising geopolitical tensions and strong central bank buying pushed gold prices to an all-time high of $2,509.65 an ounce late last week.
Traders are betting the Fed will cut rates next month, and the focus is now on the size of the cut. According to the CME FedWatch tool, there is a 75.5% chance the Fed will cut rates by 0.25 percentage points at its September meeting.
Holdings of SPDR Gold Trust, the world’s largest gold-backed exchange-traded fund, rose nearly 1% on August 16. Data showed that gold speculators on the COMEX exchange also increased their net long position by 34,197 contracts in the week ended August 13.
With so many supportive factors, the drop in gold prices has surprised many people. Some experts believe that gold may be facing a wave of profit-taking as it reaches a record high.
“Gold has been chasing the psychological $2,500 an ounce level for several months and now that it has reached that level, some profit-taking is bound to happen,” said Tim Waterer, chief market analyst at trading firm KCM Trade.
“Traders will be looking to Fed Chairman Jerome Powell’s speech at the Jackson Hole Economic Conference later this week for further clues on the size of the Fed’s rate cut,” Waterer added. Markets will also be watching the minutes of the Fed’s July policy meeting, which are due to be released on August 21.
Source: https://laodong.vn/tien-te-dau-tu/cap-nhat-gia-vang-chot-phien-198-o-at-chot-loi-roi-khoi-dinh-cao-1381955.ldo
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