Gold price today September 9: World gold hits new peak

Gold price goes up today

As of 6 a.m. on September 9 (Vietnam time), the international gold price was recorded at 3,630 USD/ounce, a sharp increase of 50 USD compared to the lowest level in the previous trading session at 3,580 USD/ounce. The December gold contract also improved, increasing 29.4 USD and closing the session at 3,682 USD/ounce.

The main reason for the increase in gold prices comes from the expectation that the US Federal Reserve (FED) will make three interest rate cuts, with a total reduction of 0.75% in the remaining months of 2025. This expectation was reinforced after the US announced the August non -farm payrolls report last weekend.

Accordingly, the economy created only 22,000 new jobs, much lower than the forecast of 75,000 and a sharp decrease compared to the 79,000 (adjusted) figure in July. The unemployment rate also increased to 4.3%, the highest level since 2021.

The weak labor market data has fueled speculation that the Fed will soon ease monetary policy, which could weaken the dollar and push gold prices higher, as gold typically moves inversely to the greenback.

According to experts, in the current economic context, gold is likely to continue to benefit from the Fed's monetary easing policy and the weakening trend of the USD. However, investors still need to be cautious, closely monitoring signals from the Fed as well as important economic data that will be announced soon, especially the consumer price index (CPI) and the producer price index (PPI), to have more basis to assess the interest rate outlook and the impact on the gold market.

In the domestic market, at the end of the trading session on September 8, SJC gold price was listed at 135.4 million VND/tael, while ring gold price stopped at 130.2 million VND/tael.