Domestic gold price today September 16
Early morning of September 16, the price of SJC 9999 gold today increased by 250 thousand VND/tael in both buying and selling compared to the close of yesterday's session.
The price of 9999 gold was updated by Saigon Jewelry Company Limited (SJC) at 8:32 a.m. and the price of 9999 gold was listed by Doji Jewelry Group at 8:33 a.m. as follows:
| Buy | Sell | |
| SJC Hanoi | 68,250,000 VND/tael | 68,970,000 VND/tael |
| SJC HCMC | 68,250,000 VND/tael | 68,950,000 VND/tael |
| SJC Danang | 68,250,000 VND/tael | 68,970,000 VND/tael |
| Doji Hanoi | 67,900,000 VND/tael | 68,800,000 VND/tael |
| Doji HCMC | 68,100,000 VND/tael | 68,800,000 VND/tael |
SJC and DOJI gold price list updated early morning September 16
At the end of the trading session on September 15, the price of 9999 gold bars at SJC Ho Chi Minh City was 68 million VND/tael (buy) and 68.7 million VND/tael (sell). SJC Hanoi listed at 68 million VND/tael (buy) and 68.72 million VND/tael (sell).
Doji Hanoi listed at 67.9 million VND/tael (buy) and 68.8 million VND/tael (sell). Doji Ho Chi Minh City bought SJC gold at 68 million VND/tael and sold at 68.7 million VND/tael.
The central exchange rate on September 15 announced by the State Bank is 24,036 VND/USD. The USD price at commercial banks this morning (September 16) was traded around 24,055 VND/USD (buy) and 24,425 VND/USD (sell).
International gold price today September 16
At 9:11 a.m. today (September 16, Vietnam time) , the world spot gold price stood at around 1,924.1 USD/ounce, down 2.9 USD/ounce compared to last night. The price of gold futures for December delivery on the Comex New York floor was at 1,946.2 USD/ounce.
On the morning of September 16, world gold converted to USD bank price was nearly 56.66 million VND/tael (excluding tax and fees), about 12.31 million VND/tael lower than domestic gold price.
On the world market, the spot gold price on Kitco on September 15 (at 9:00 p.m., Vietnam time) was trading at 1,927 USD/ounce.
Gold prices are testing resistance around $1,950 an ounce amid negative consumer sentiment and easing inflationary pressures. The consumer sentiment index fell to 67.7 from 69.5 in August, according to data released on Friday.
According to the US Department of Commerce, the country's retail sales increased 0.6% in August 2023, higher than the expected 0.1%.
The US producer price index rose a seasonally adjusted 0.7% in August 2023, higher than the expected 0.4% and the largest monthly increase since June 2022.
The department also reported that US jobless claims rose by 3,000 to 220,000 in the week ended September 9.
A modest increase in core inflation could encourage the US Federal Reserve (Fed) to keep interest rates at current levels.
China’s yuan hit a two-week high against the dollar after data showed China’s industrial output and retail sales in August beat analysts’ forecasts, boosting gold prices.
Gold Price Forecast
There are concerns that the Fed is likely to continue raising interest rates and that will put some pressure on the gold market, said David Meger, director of metals trading at High Ridge Futures.
Spot gold may test support at $1,950 an ounce, according to Reuters technical analyst Wang Tao.
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