Simultaneous increase, many supporting factors

Illustration: Phan Anh

Update SJC gold price

Domestic SJC gold price closed on September 11, 2024.

SJC gold price movements last month. Source: Rong Viet Online Services JSC VDOS.

Price of round gold ring 9999

As of 7:15 p.m. today, the price of 9999 Hung Thinh Vuong round gold rings at DOJI is listed at 77.5-78.65 million VND/tael (buy - sell); an increase of 150,000 VND/tael in both directions compared to the close of the previous trading session.

Bao Tin Minh Chau listed the price of gold rings at 77.48 - 78.63 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 5:00 p.m., the world gold price listed on Kitco was at 2,518.2 USD/ounce, up about 12 USD/ounce compared to the close of last week's trading session.

World gold price developments. Source: Kitco

Gold price forecast

World gold prices increased in the context of the USD index decreasing. Recorded at 7:15 p.m. on September 11, the US Dollar Index, which measures the greenback's fluctuations against six major currencies, was at 101.394 points (down 0.2%).

Investors are looking ahead to the US PPI for August tomorrow (September 12), along with weekly jobless claims. The week also concludes with the release of the University of Michigan's preliminary consumer sentiment survey for September this week.

According to Kitco - Gold prices have risen in the past two days, driven by many factors, with the upcoming Federal Open Market Committee (FOMC) meeting being the main focus. The recovery of this precious metal comes as investors expect the US Federal Reserve (FED) to cut interest rates for the first time since 2020.

The Fed's upcoming policy shift is aimed at normalizing interest rates from 23-year highs. Fed Chairman Jerome Powell signaled the change a few weeks ago at an economic symposium in Jackson Hole, Wyoming, saying it was time to adjust the central bank's policy.

Other Fed officials echoed this view, including New York Fed President John Williams, who stressed the rationale for cutting interest rates, citing progress on inflation and a cooling labor market.

Source: https://laodong.vn/tien-te-dau-tu/cap-nhat-gia-vang-chot-phien-119-dong-loat-tang-nhieu-yeu-to-ho-tro-1392273.ldo