Heavy losses, positive forecast

Illustration: Hai Nguyen

Update SJC gold price

At the end of the week's trading session, DOJI Group listed the price of SJC gold at 78.5 - 80.5 million VND/tael (buy - sell).

Compared to the close of last week's trading session, gold prices at DOJI remained unchanged in both buying and selling directions.

The difference between buying and selling prices of SJC gold at DOJI Group is at 2 million VND/tael.

Domestic SJC gold price closed on September 15, 2024.

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

Meanwhile, Saigon Jewelry Company listed the price of SJC gold at 78.5 - 80.5 VND/tael (buy - sell).

Compared to the closing price of last week's trading session, the gold price at Saigon Jewelry Company SJC remained unchanged in both buying and selling directions.

The difference between buying and selling price of SJC gold at Saigon Jewelry Company is at 2 million VND/tael.

Last week, SJC gold price remained stable, however the high difference between buying and selling gold caused investors to suffer heavy losses.

If you buy gold at DOJI Group on September 8 at VND80.5 million/tael and sell it today (September 15), you will lose VND2 million/tael. Similarly, those who buy gold at Saigon Jewelry Company SJC will also lose VND2 million/tael.

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 77.9-79.1 million VND/tael (buy - sell); an increase of 450,000 VND/tael for buying and an increase of 500,000 VND/tael for selling compared to the closing price of last week's trading session.

Saigon Jewelry Company listed the price of gold rings at 77.8-79.1 million VND/tael (buy - sell); an increase of 500,000 VND/tael for both buying and selling compared to the closing price of the previous trading session.

Bao Tin Minh Chau listed the price of gold rings at 77.88-79.08 million VND/tael (buy - sell); an increase of 450,000 VND/tael for both buying and selling compared to the closing price of the previous trading session.

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 2,577.7 USD/ounce, up more than 80 USD/ounce compared to the close of last week's trading session.

World gold price developments. Source: Kitco

Gold price forecast

World gold prices fell slightly in the context of the USD index's recovery trend. Recorded at 6:00 p.m. on September 15, the US Dollar Index, which measures the greenback's fluctuations against six major currencies, was at 101,120 points (down 0.23%).

Last week, gold "broke" the record achieved at the end of August and continuously conquered new milestones as expectations of a strong move from the US Federal Reserve (FED) increased.

The precious metal has come a long and bumpy way, and the upcoming monetary policy decision will mark the beginning of a new journey, experts say.

The latest Kitco News weekly gold survey shows that both industry professionals and retail investors are optimistic about gold's upside potential, but remain skeptical and more cautious than in recent weeks.

According to an update from the World Gold Council (WGC), as of May 2024, China’s official gold holdings had increased to around 2,300 tonnes, or approximately 5% of its total reserves. This is an increase of around 20% compared to 1,900 tonnes just two years ago in 2022.

Thirteen analysts participated in the Kitco News gold survey this week. The majority of experts remain bullish on gold. Eight experts expect gold prices to rise next week. Three others believe gold will trade lower next week. Two analysts predict the precious metal will trade sideways.

Meanwhile, 189 votes were cast in Kitco's online poll. 107 traders expect gold prices to rise next week. While 47 expect the precious metal to fall. The remaining 35 respondents predict gold prices to be flat next week.

Source: https://laodong.vn/tien-te-dau-tu/cap-nhat-gia-vang-chot-phien-159-thua-lo-nang-ne-du-bao-tich-cuc-1393429.ldo