Gold begins second rally

Gold price today 9/26/2024

At the time of survey at 5:00 a.m. on September 26, 2024, the gold price on the trading floors of some companies was as follows:

DOJI listed the price of 9999 gold today at 81.5 million VND/tael for buying and 83.5 million VND/tael for selling.

Với sự bứt phá của giá vàng nhẫn, những người mua vàng nhẫn từ cuối năm ngoái đến nay đã lãi lớn.

Gold price today 9/26/2024.

At Mi Hong Gold and Gemstone Company, the price of Mi Hong gold at the time of survey listed the price of SJC gold at 82.5-83.5 million VND/tael (buy - sell).

SJC gold price at Bao Tin Minh Chau Company Limited is also traded by the enterprise at 81.5-83.5 million VND/tael (buy in - sell out). Meanwhile, at Bao Tin Manh Hai, it is being traded at 81.6-83.5 million VND/tael (buy in - sell out).

The latest gold price list today, September 26, 2024 is as follows:

Gold price today	September 26, 2024 (million dong)		Difference (thousand dong/tael)
Gold price today	Buy	Sell	Buy	Sell
SJC in Hanoi	81.5	83.5	-	-
DOJI Group	81.5	83.5	-	-
Red Eyelashes	82.7	83.5	+200	-
PNJ	81.5	83.5	-	-
Vietinbank Gold	-	83.5	-	-
Bao Tin Minh Chau	81.5	83.5	-	-
Bao Tin Manh Hai	81.6	83.5	-	-

1. DOJI - Updated: September 26, 2024 15:32 - Time of the source website - ▼ / ▲ Compared to yesterday.
Type	Buy	Sell
AVPL/SJC HN	81,500	83,500
AVPL/SJC HCM	81,500	83,500
AVPL/SJC DN	81,500	83,500
Raw material 9999 - HN	82,450	82,750
Raw material 999 - HN	82,350	82,650
AVPL/SJC Can Tho	81,500	83,500

2. PNJ - Updated: September 27, 2024 03:00 - Website supply time - ▼ / ▲ Compared to yesterday.
Type	Buy	Sell
HCMC - PNJ	82,100	83,200
HCMC - SJC	81,500	83,500
Hanoi - PNJ	82,100	83,200
Hanoi - SJC	81,500	83,500
Da Nang - PNJ	82,100	83,200
Da Nang - SJC	81,500	83,500
Western Region - PNJ	82,100	83,200
Western Region - SJC	81,500	83,500
Jewelry gold price - PNJ	82,100	83,200
Jewelry gold price - SJC	81,500	83,500
Jewelry gold price - Southeast	PNJ	82,100
Jewelry gold price - SJC	81,500	83,500
Jewelry gold price - Jewelry gold price	PNJ 999.9 Plain Ring	82,100
Jewelry gold price - Jewelry gold 999.9	82,000	82,800
Jewelry gold price - Jewelry gold 999	81,920	82,720
Jewelry gold price - Jewelry gold 99	81,070	82,070
Jewelry gold price - 916 gold (22K)	75,450	75,950
Jewelry gold price - 750 gold (18K)	60,850	62,250
Jewelry gold price - 680 gold (16.3K)	55,050	56,450
Jewelry gold price - 650 gold (15.6K)	52,570	53,970
Jewelry gold price - 610 gold (14.6K)	49,260	50,660
Jewelry gold price - 585 gold (14K)	47,190	48,590
Jewelry gold price - 416 gold (10K)	33,200	34,600
Jewelry gold price - 375 gold (9K)	29,800	31,200
Jewelry gold price - 333 gold (8K)	26,070	27,470

3. AJC - Updated: 09/26/2024 00:00 - Source website time - ▼ / ▲ Compared to yesterday.
Type	Buy	Sell
Jewelry 99.99	8,125	8,300
99.9 Jewelry	8,115	8,290
NL 99.99	8,160
Round ring, sealed in blister pack T.Binh	8,160
Round, 3A, Yellow T.Bình	8,230	8,340
Round, 3A, Yellow N.An	8,230	8,340
Round N., 3A, Yellow Street, Hanoi	8,230	8,340
SJC Thai Binh pieces	8,150	8,350
SJC Nghe An pieces	8,150	8,350
SJC Hanoi Piece	8,150	8,350

4. SJC - Updated: 09/26/2024 08:42 - Website time of supply source - ▼ / ▲ Compared to yesterday.
Type	Buy	Sell
SJC 1L, 10L, 1KG	81,500	83,500
SJC 5c	81,500	83,520
SJC 2c, 1c, 5c	81,500	83,530
SJC 99.99 gold ring 1 chi, 2 chi, 5 chi	81,300	82,700
SJC 99.99 gold ring 0.3 chi, 0.5 chi	81,300	82,800
Jewelry 99.99%	81,200	82,400
Jewelry 99%	79,584	81,584
Jewelry 68%	53,688	56,188
Jewelry 41.7%	32,014	34,514

World gold price today September 26, 2024 and world gold price fluctuation chart in the past 24 hours

According to Kitco, the world gold price recorded at 5am today, Vietnam time, was at 2,657.18 USD/ounce. Today's gold price is unchanged compared to yesterday's gold price. Converted according to the current exchange rate at Vietcombank, the world gold price is about 77.898 million VND/tael (excluding taxes and fees). Thus, the price of SJC gold bars is still 3.602 million VND/tael higher than the international gold price.

World gold price developments in the past 24 hours.

Investors are concerned that gold prices may be overextended as a new wave of momentum pushes the precious metal into another rally that could quickly push it past $3,000, according to Dylan Smith, senior economist at Rosenberg Research.

In an interview with Larysa Harapyn of the Financial Post, Smith was asked if he believed the gold rally could continue after the yellow metal had risen so quickly. He replied that gold was actually experiencing two separate rallies, each with its own momentum. That means the next phase of the bull market is just beginning.

“ I think we’ve seen a big run in gold over the past week since the Fed [made] a big 50 basis point rate cut. That’s something we’ve been expecting for a while. But I think something important is happening in the gold market in terms of a big change in what’s driving the gold price compared to the big rallies we saw earlier this year, so that’s why we’re fascinated by what’s going on and we think there’s more to come, ” Smith said.

Smith said Rosenberg Research has held a price target of $3,000 or higher for some time now and they don’t see much risk of a correction. In fact, they see more momentum coming.

“ That rally earlier this year, and then the more recent rally, we’re at a point where we’ve essentially had two separate 14% to 15% rallies in gold. The dynamics that we saw at the start of the year, driving the first rally of 14% or 15%, are what we call the New World gold dynamics. We’re seeing huge central bank demand, which is still there and still supporting high gold prices. We’re seeing a lot of cautious demand from emerging markets where the risk of de-dollarization is quite real, places like Turkey where inflation is very, very high. We’re seeing important jewelry markets like India seeing huge income growth. All of these things are creating real fundamental drivers for gold prices ,” he said.

Smith noted that traditional gold ETFs have gone from net outflows to net inflows over the past three months. “ They’re only up about 3%, but the point is they’ve turned the corner. What that means is that as the average investor starts to realize that gold is going to be an important part of their portfolio, as we move into more uncertain economic times, that’s going to drive the next leg and is driving the next leg of the gold move, ” he said.

Smith added that industrial gold demand has also been weak recently, but they are also starting to see that demand pick up.

“ That’s one of the other fundamental drivers we see behind gold,” he said. “Those industrial applications move a little bit more cyclically and we’ve seen a pullback in some of the physical gold demand for industrial purposes that has weighed on the gold price a little bit over the past year, that’s also coming back online a little bit, so that’s another reason for optimism .”

Smith was also asked about the persistent challenges in the mining sector, which has yet to fully benefit from the gold price rally, and he said things there were also improving, in terms of profitability if not output.

“ Miners have, let’s face it, struggled a little bit compared to what the gold price has done. We’ve seen them struggle a little bit to control costs, and so margins have been a little tight for them. But production has been very stable, and we think that will continue. Those rising costs really make it difficult for miners to ramp up production quickly, so again, that’s supportive of prices ,” he said.

When asked when he expects the yellow metal to reach its target price of $3,000, Smith declined to give a specific time frame but said it would happen sooner than expected.

Reference addresses of popular gold shops in Hanoi:

1. Bao Tin Minh Chau - 15 - 29 Tran Nhan Tong, Bui Thi Xuan, Hai Ba Trung, Hanoi

2. DOJI Gold and Gemstone Company - 5 Le Duan, Dien Bien, Ba Dinh, Hanoi

3. SJC store chain in the Northern region - 18 Tran Nhan Tong, Nguyen Du Ward, Hai Ba Trung District, Hanoi City

4. PNJ store chain in the Northern region - 222 Tran Duy Hung, Trung Hoa, Cau Giay, Hanoi

5. Phu Quy Gold and Silver - No. 30 Tran Nhan Tong, Hai Ba Trung, Hanoi

6. Ngoc Anh Gold and Silver – No. 47 Lo Duc, Pham Dinh Ho, Hai Ba Trung, Hanoi

7. Gold Quy Tung – No. 102 Khuong Dinh, Thanh Xuan, Hanoi

8. Bao Tin Lan Vy - No. 84A, Tran Duy Hung, Cau Giay, Hanoi

9. Hoang Anh Gold and Silver – No. 43 Thai Thinh, Dong Da, Hanoi

10. Huy Thanh Jewelry - No. 23/100 (old number: No. 30A, lane 8), Doi Can, Ba Dinh, Hanoi

Reference addresses of popular gold shops in Ho Chi Minh City: