Update SJC gold price
Currently, the difference between buying and selling gold prices is listed at around 2 million VND/tael. Experts say that this difference is so high that investors face the risk of losing money when investing in the short term.
Price of round gold ring 9999
As of 6:00 p.m. today, the price of 9999 Hung Thinh Vuong round gold rings at DOJI is listed at 77.55-78.65 million VND/tael (buy - sell).
Saigon Jewelry Company listed the price of gold rings at 77.4-78.65 million VND/tael (buy - sell).
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 an investment decision.
World gold price
As of 5:20 p.m., the world gold price listed on Kitco was at 2,521.1 USD/ounce.
Gold price forecast
World gold prices increased in the context of the USD index decreasing. Recorded at 5:20 p.m. on August 30, the US Dollar Index, which measures the fluctuations of the greenback against 6 major currencies, was at 101.307 points (up 0.05%).
Analysts say China is the main driving force behind the recent gold rally as the People's Bank of China (PBOC) has been buying large amounts of gold for 18 consecutive months.
Although the PBOC has recently stopped buying more gold, analysts at Capital Economics predict that this pause in gold accumulation is only temporary, and that China's gold demand will increase further amid rising global tensions, economic uncertainty and efforts to shift away from the US dollar.
And it’s not just the PBOC that’s showing interest in gold, with physical gold demand in China rising to pre-pandemic levels. Capital Economics says a sharp rise in demand for “paper gold” assets like gold exchange-traded funds (ETFs) and futures has also fueled the gold rush in China.
China has been the main driver of gold's rally this year, with central bank buying, strong physical demand and a sharp rise in gold holdings in exchange-traded funds, analysts at Capital Economics said.
Looking ahead, these experts predict: “China’s demand for gold will increase as the world’s second-largest economy slows this decade. This will put upward pressure on gold prices and could cause greater volatility in the gold market in the coming years.”
Meanwhile, Wells Fargo analysts said that since the beginning of the year, gold prices have increased by 20%. The momentum for gold price growth remains intact if the situation is considered from now until the end of the year.
"Gold prices are not likely to reverse but will enter a sustained uptrend. In the next few years, gold prices could reach $3,000/ounce" - Wells Fargo commented.
In the same opinion, Capital Economics said that the increase in gold prices is unlikely to stop due to the context of increasing global tensions, economic instability and continuous efforts to escape the US dollar, active central bank gold buying, strong physical gold demand in China and India.
Source: https://laodong.vn/tien-te-dau-tu/cap-nhat-gia-vang-chot-phien-308-co-the-pha-ky-luc-1387205.ldo
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