SJC gold bar price goes down after Fed cuts interest rates

World gold price today, September 18, increased to nearly 3,700 USD/ounce then decreased sharply after the Fed reduced interest rates.

SJC gold bar price today decreased by 300,000 VND/tael after Fed reduced interest rate - Photo: THANH HIEP

Gold prices fall due to profit-taking pressure

World gold price increased to 3,695.8 USD/ounce - the highest level ever, but at 11am today it had decreased to 3,663 USD/ounce.

Converted according to the listed exchange rate at the bank, the world gold price is equivalent to 116.8 million VND/tael.

World gold prices hit a record high as the US Federal Reserve (Fed) cut interest rates by 0.25%, bringing the reference interest rate to 4-4.25% and forecasting further interest rate cuts this year.

However, gold prices then turned sharply lower because the US dollar appreciated after the Fed forecast that it would only cut interest rates once in 2026.

This is the first rate cut by the Fed since December last year. In 2024, the Fed had three consecutive rate cuts in the last four months of the year, with a total reduction of 1%.

The selling price of SJC gold bars today decreased by 300,000 VND/tael, to 132 million VND/tael. The buying price also decreased to 130 million VND/tael. The difference between buying and selling prices remained at 2 million VND/tael.

The selling price of 9999 gold rings at SJC Company today is 129 million VND/tael, down 300,000 VND/tael, the buying price has decreased to 126.3 million VND/tael.

At large gold shops, the selling price of SJC gold bars dropped sharply to 132 million VND/tael, the buying price was at 131 million VND/tael. The difference between buying and selling prices was 1 million VND/tael.

Gold prices are expected to continue to increase.

At the current price, the price of SJC gold bars is 15.2 million VND/tael higher than the world gold price, while the price of gold rings is 12.2 million VND/tael higher.

According to experts' analysis, the drop in world gold prices after the Fed announced a rate cut was predictable because the nature of the market is "buy the rumor, sell the truth" or in other words, "sell the news".

Expectations of a Fed rate cut have been priced into gold prices for some time now, so now is the time to take profits.

But according to experts, the decline is only temporary. Since the beginning of 2025, the world gold price has increased by about 40% and is expected to increase further thanks to the purchasing power of central banks and investment funds.

World gold prices are forecast to fluctuate in the range of 3,600 - 3,900 USD/ounce in the short and medium term if geopolitical instability persists and the Fed continues to reduce interest rates as forecast.

Back to topic

PINK LIGHT

Source: https://tuoitre.vn/gia-vang-mieng-sjc-di-xuong-sau-khi-fed-giam-lai-suat-20250918114911422.htm