SJC gold price drops sharply, losing the 69 million VND mark

Domestic gold price today September 25

Early afternoon of September 25, today's price of SJC 9999 gold decreased by 150 thousand VND/tael in both buying and selling compared to the morning, losing the mark of 69 million VND/tael.

The price of 9999 gold was updated by Saigon Jewelry Company Limited (SJC) at 14:21 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

SJC gold price list updated early afternoon September 25

Early morning of September 25 , SJC gold price 9999 today decreased by 50 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 8:47 a.m. and the price of 9999 gold was listed by Doji Jewelry Group at 8:36 a.m. as follows:

	Buy	Sell
SJC Hanoi	68,400,000 VND/tael	69,120,000 VND/tael
SJC HCMC	68,400,000 VND/tael	69,100,000 VND/tael
SJC Danang	68,400,000 VND/tael	69,120,000 VND/tael
Doji Hanoi	68,450,000 VND/tael	69,170,000 VND/tael
Doji HCMC	68,450,000 VND/tael	69,170,000 VND/tael

SJC and DOJI gold price list updated early morning September 25

At the end of the trading session on September 23 , the price of 9999 gold bars at SJC Ho Chi Minh City was 68.45 million VND/tael (buy) and 69.15 million VND/tael (sell). SJC Hanoi listed at 68.45 million VND/tael (buy) and 69.17 million VND/tael (sell).

Doji Hanoi listed at 68.25 million VND/tael (buy) and 69.15 million VND/tael (sell). Doji Ho Chi Minh City bought SJC gold at 68.3 million VND/tael and sold at 69.1 million VND/tael.

The central exchange rate on September 25 announced by the State Bank is 24,076 VND/USD, up 16 VND compared to last weekend. The USD price at commercial banks this morning (September 25) was traded around 24,150 VND/USD (buy) and 24,520 VND/USD (sell).

*Retail investors expect gold prices to rise. (Photo: Kitco)*

International gold price today September 25

At 9:08 a.m. today (September 25, Vietnam time), the world spot gold price stood at around 1,922.6 USD/ounce, down 1.4 USD/ounce compared to last weekend. The price of gold futures for December delivery on the Comex New York floor was at 1,943.1 USD/ounce.

On the morning of September 25 , world gold converted to USD bank price was 56.83 million VND/tael (excluding tax and fees), about 12.29 million VND/tael lower than domestic gold price.

Fluctuations in international gold prices in the past 24 hours (Photo: Kitco)

On the world market, the spot gold price on Kitco closed the weekend trading session at 1,924 USD/ounce.

The latest Kitco News weekly gold survey shows that analysts are divided on where gold prices will go next.

James Stanley, senior market strategist at Forex.com, sees gold likely to rise this week. According to Stanley, gold is benefiting from falling bond yields.

Contrary to Stanley's view, Colin Cieszynski, chief market strategist at SIA Wealth Management, said gold has been trending sideways since early September and has continued that trend through the third quarter.

However, retail investors have expressed their view that gold prices will increase sharply in the coming time. Many opinions have been given that gold prices will trade around $1,936/ounce, $12 higher than last week's forecast.

Adrian Day, Chairman of Adrian Day Asset Management, said that investors have reason to expect gold prices to increase, because gold is reacting positively when the US Federal Reserve (Fed) did not raise interest rates on September 20 due to the risk that the US economy could decline.

Gold Price Forecast

Thirteen Wall Street analysts participated in the Kitco News gold survey last week. Forty-six percent of analysts said they expected gold prices to rise in the near term, while another 15 percent said they expected prices to fall. The remaining 38 percent said they expected prices to remain flat.

591 votes were cast in the online poll. Of these, 292 respondents, or 49%, said gold would rise in the near term. Another 208, or 35%, expected gold prices to fall, while the remaining 91, or 15%, said gold prices would remain flat.

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