Gold rings anchor high, the world breaks out

Gold price update morning of September 16: Gold rings anchor high, world breaks out — Illustration: Phan Anh

SJC gold bar price

9999 gold ring price

As of 6:00 a.m., the price of 9999 Hung Thinh Vuong round gold rings at DOJI was listed at 77.9-79.1 million VND/tael (buy - sell); unchanged.

Bao Tin Minh Chau listed the price of gold rings at 77.88-79.08 million VND/tael (buy - sell), unchanged.

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 6:00 a.m. on September 16, the world gold price listed on Kitco was at 2,577.7 USD/ounce, unchanged.

Gold Price Forecast

World gold prices are high amid a decline in the USD index. Recorded at 6:00 a.m. on September 16, the US Dollar Index, which measures the greenback's fluctuations against six major currencies, was at 101.120 points (down 0.23%).

Last week, gold “broke” the record achieved at the end of August and continuously conquered new milestones as expectations of a strong move from the US Federal Reserve (FED) increased.

Experts say the precious metal has come a long and bumpy way, and the upcoming monetary policy decision will mark the beginning of a new journey.

The latest Kitco News weekly gold survey shows that both industry professionals and retail investors are bullish on gold’s upside potential, but remain skeptical and more cautious than in recent weeks.

Thirteen analysts participated in the Kitco News gold survey this week. The majority of analysts remain bullish on gold. Eight analysts expect gold prices to rise next week, while three see gold trading lower this week. Two see the precious metal trading sideways.

Meanwhile, 189 votes were cast in Kitco’s online poll. 107 traders expect gold prices to rise this week. While 47 expect the precious metal to fall. The remaining 35 respondents predict gold prices to be flat this week.

Mr. Alex Ebkarian - CEO of Allegiance Gold Company, said that economic data is creating conditions for the FED to lower interest rates, thereby making gold more attractive to investors.

In addition, the demand for “safe haven” has also increased recently amid ongoing geopolitical conflicts in many parts of the world. Central banks around the world have begun to buy gold, which is one of the factors affecting gold prices.

Mr. Heng Koon How - Head of Market Strategy, UOB Bank, said that gold prices could increase to $2,700/ounce by mid-2025 and potentially reach $3,000/ounce in the long term after that.

Source: https://laodong.vn/tien-te-dau-tu/cap-nhat-gia-vang-sang-169-vang-nhan-neo-cao-the-gioi-but-pha-1394355.ldo