World gold prices skyrocketed after the European Central Bank cut interest rates, pushing the domestic 9999 gold ring price to a new peak on the morning of September 13. Currently, 9999 gold rings are only about 1.4 million VND/tael away from SJC gold.
At around 9:00 a.m. on September 13, the price of 9999 gold rings was listed by SJC Company at 77.8 million VND/tael for buying and 79.1 million VND/tael for selling, an increase of 500,000 VND for both buying and selling compared to the previous day. PNJ Company also increased 450,000 VND for both buying and selling to 77.9 million VND/tael for buying and 78.7 million VND/tael for selling. Thus, the price of 9999 gold rings has officially reached an all-time high.
Meanwhile, SJC gold price remains unchanged: SJC Company, PNJ, Doji Group still trade SJC gold at 78.5 million VND/tael for buying and 80.5 million VND/tael for selling, unchanged from yesterday.
The selling price of SJC gold at 4 State-owned commercial banks (BIDV, Agribank , Vietinbank and Vietcombank) this morning is still listed at 80.5 million VND/tael.
In the world gold market, the closing price of gold in New York on the night of September 12 jumped to 2,558.3 USD/ounce, an increase of 47.8 USD/ounce compared to the previous session. The spot gold price on the Kitco floor on the morning of September 13 continued to increase to 2,563.3 USD/ounce. This is also a new record high price of the world gold price just set. This price after conversion is equivalent to 76.3 million VND/tael, lower than SJC gold by about 4.2 million VND/tael and lower than 9999 ring gold by about 2.8 million VND/tael.
The world gold price reached a new peak after the European Central Bank (ECB) continued its monetary policy easing cycle, with a 0.25% cut to 3.5%. The refinancing rate and marginal lending rate also decreased to 3.65% and 3.9%, respectively. This made investors expect the US Federal Reserve (FED) to cut interest rates aggressively, especially after recently released data showed signs of a slowdown in the US economy.
Nhung Nguyen
Source: https://www.sggp.org.vn/vang-nhan-9999-tang-cao-ky-luc-vuot-79-trieu-dongluong-post758693.html
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