The price of SJC gold bars increased by 50,000 VND per tael. Saigon Jewelry Company - SJC bought for 68.15 million VND, sold for 68.85 million VND; Eximbank bought for 68.2 million VND, sold for 68.7 million VND... The price of SJC gold bars is 12.7 million VND per tael higher than the world price, while the price of gold rings is 1.15 million VND/tael higher. SJC Company bought 4-number-9 gold rings for 56.2 million VND, sold for 57.15 million VND. Gold transactions are quite quiet in the market.
SJC gold bar price increased slightly
The world gold price increased by 1 USD per ounce on the morning of September 11, to 1,919 USD. The precious metal has fluctuated continuously within the range of 1,916 - 1,921 USD/ounce. Last week, the gold price decreased by 1% when little economic information was released. Investors expect the market to recover this week when they think the greenback will weaken. Technically, world analysts are optimistic that gold will increase this week.
But Adam Button, chief currency analyst at Forexlive.com, said bond yields are a key gauge for both gold and stocks right now, and he sees limited upside for the precious metal until late fall.
The most important economic data for gold traders this week will be the US CPI and PPI for August, due on Wednesday and Thursday, respectively. Market participants will also be watching US retail sales for August and the European Central Bank (ECB) interest rate decision, both scheduled for release on Thursday morning. The CPI and ECB figures “will likely be decisive” in gold’s movements this week.
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