World gold price decreased slightly

Gold price today September 28, 2024

At the time of survey at 5:00 a.m. on September 28, 2024, the gold price on the trading floors of some companies was as follows:

The price of 9999 gold today is listed by DOJI at 81.5 million VND/tael for buying and 83.5 million VND/tael for selling.

Gold price today September 28, 2024. Photo PC

At Mi Hong Jewelry Company, the price of Mi Hong gold at the time of survey was listed at 83-83.5 million VND/tael (buy - sell).

SJC gold price at Bao Tin Minh Chau Company Limited is also traded by the enterprise at 81.5-83.5 million VND/tael (buy in - sell out). Meanwhile, at Bao Tin Manh Hai, it is being traded at 81.6-83.5 million VND/tael (buy in - sell out).

The latest gold price list today, September 28, 2024 is as follows:

Gold price today	September 28, 2024 (Million VND)		Difference (thousand dong/tael)
	Buy	Sell ​​out	Buy	Sell ​​out
SJC in Hanoi	81.5	83.5	-	-
DOJI Group	81.5	83.5	-	-
Mi Hong	83.0	83.5	-	-
PNJ	81.5	83.5	-	-
Vietinbank Gold	-	83.5	-	-
Bao Tin Minh Chau	81.5	83.5	-	-
Bao Tin Manh Hai	81.6	83.5	-	-

1. DOJI - Updated: September 28, 2024 08:43 - Website supply time - ▼ / ▲ Compared to yesterday.
Type	Buy	Sell ​​out
AVPL/SJC HN	81,500	83,500
AVPL/SJC HCM	81,500	83,500
AVPL/SJC DN	81,500	83,500
Raw materials 9999 - HN	82,700	84,000
Raw materials 999 - HN	82,600	83,900
AVPL/SJC Can Tho	81,500	83,500

2. PNJ - Updated: September 29, 2024 02:00 - Website supply time - ▼ / ▲ Compared to yesterday.
Type	Buy	Sell ​​out
HCMC - PNJ	82,500	83,300
HCMC - SJC	81,500	83,500
Hanoi - PNJ	82,500	83,300
Hanoi - SJC	81,500	83,500
Da Nang - PNJ	82,500	83,300
Da Nang - SJC	81,500	83,500
Western Region - PNJ	82,500	83,300
Western Region - SJC	81,500	83,500
Jewelry gold price - PNJ	82,500	83,300
Jewelry gold price - SJC	81,500	83,500
Jewelry gold price - Southeast	PNJ	82,500
Jewelry gold price - SJC	81,500	83,500
Jewelry gold price - Jewelry gold price	PNJ 999.9 Plain Ring	82,500
Jewelry gold price - Jewelry gold 999.9	82,400	83,200
Jewelry gold price - 999 jewelry gold	82,320	83,120
Jewelry gold price - 99 jewelry gold	81,470	82,470
Jewelry gold price - 916 gold (22K)	75,810	76,310
Jewelry gold price - 750 gold (18K)	61,150	62,550
Jewelry gold price - 680 gold (16.3K)	55,330	56,730
Jewelry gold price - 650 gold (15.6K)	52,830	54,230
Jewelry gold price - 610 gold (14.6K)	49,500	50,900
Jewelry gold price - 585 gold (14K)	47,420	48,820
Jewelry gold price - 416 gold (10K)	33,360	34,760
Jewelry gold price - 375 gold (9K)	29,950	31,350
Jewelry gold price - 333 gold (8K)	26,210	27,610

3. AJC - Updated: 09/28/2024 00:00 - Source website time - ▼ / ▲ Compared to yesterday.
Type	Buy	Sell ​​out
Jewelry 99.99	8,190	8,410
99.9 Jewelry	8,180	8,400
NL 99.99	8,200
Round ring, sealed in blister pack T.Binh	8,200
Round N, 3A, Yellow T.Binh	8,270	8,350
Round N., 3A, Yellow N.An	8,270	8,350
Round N., 3A, Yellow Street, Hanoi	8,270	8,350
SJC Thai Binh pieces	8,150	8,350
SJC Nghe An pieces	8,150	8,350
SJC Hanoi pieces	8,150	8,350

4. SJC - Updated: 09/27/2024 08:23 - Website supply time - ▼ / ▲ Compared to yesterday.
Type	Buy	Sell ​​out
SJC 1L, 10L, 1KG	81,500	83,500
SJC 5c	81,500	83,520
SJC 2c, 1C, 5 phan	81,500	83,530
SJC 99.99 gold ring 1 chi, 2 chi, 5 chi	81,500	83,000
SJC 99.99 gold ring 0.3 chi, 0.5 chi	81,500	83,100
99.99% Jewelry	81,450	82,700
99% Jewelry	79,881	81,881
Jewelry 68%	53,892	56,392
Jewelry 41.7%	32,139	34,639

World gold price today September 28, 2024 and world gold price fluctuation chart in the past 24 hours

According to Kitco, the world gold price recorded at 5am today, Vietnam time, was 2,653.42 USD/ounce. Today's gold price decreased by 0.7% compared to yesterday's gold price. Converted according to the current exchange rate at Vietcombank, the world gold price is about 77.755 million VND/tael (excluding taxes and fees). Thus, the price of SJC gold bars is still 3.745 million VND/tael higher than the international gold price.

Chart of world gold price movements in the past 24 hours.

After hitting record highs over the past six days, the gold market is taking a breather as it comes under some technical selling pressure heading into the weekend.

Strong buying pushed gold prices above $2,700 an ounce on Thursday. However, some analysts expressed growing concerns that the precious metal's rally may be getting a little too far. December gold futures last traded at $2,669 an ounce, down nearly 1% on the day, but up nearly 1% from last Friday.

“ After hitting a series of new record highs following the surprise US rate cut, prices are showing signs of stabilizing. Some buying fatigue is starting to set in, raising the question of whether we are approaching a long-overdue consolidation or even a correction. Based on my estimates, prices could fall 4-6% without damaging the overall bullish sentiment, ” said Ole Hansen, Head of Commodity Strategy at Saxo Bank.

Hansen added that he sees initial support at $2,670 an ounce, and if that level is broken, the next level to watch is $2,547. In a worst-case scenario, gold could fall to support at $2,500.

Alex Kuptsikevich, Senior Market Analyst at FxPro, said he also sees little upside left in gold, which increases the risk of a correction.

“ Technically, gold has surpassed the 161.8% level of the two-year rally since August 2018—a typical bullish extension pattern along Fibonacci levels. When prices have moved too far into historical high territory, finding new upside targets becomes more difficult ,” he explained.

Looking ahead, Kuptsikevich noted that next week's jobs data could pose some risks for gold.

“ The sharp rise in gold over the past three weeks has been the most dangerous part of the trend for short-term traders to enter the market without a reliable signal. On the weekly timeframe, such a signal would be a negative weekly close ,” he said. “ We could get this signal as early as next Friday. The release of monthly data on the US labor market will reinforce its importance for the market .”

Still, some analysts believe gold has some momentum. Bart Melek, head of commodity strategy at TD Securities, said he expects gold prices to rise back above $2,700, his year-end target. Last week, TDS exited a tactical short position with a loss of more than 4% as the bank positioned itself for market disappointment after the Fed meeting.

After cutting interest rates by 50 basis points and signaling that rates could fall to 3% by 2026, Melek said the Fed is clearly in easing mode, which bodes well for gold.

Gold remains in a favorable position as the Federal Reserve cuts interest rates to support a weakening labor market, even as inflation remains high, Melek added.

On Friday, the core U.S. Personal Consumption Expenditures (PCE) index, which excludes volatile food and energy costs and is the U.S. central bank's preferred inflation gauge, showed consumer prices remained elevated. The data showed U.S. PCE rose 2.7% over the past 12 months, up from 2.6% in July.

However, inflation rose only 2.2% due to lower energy prices.

Economists note that the core PCE index remains elevated, suggesting inflation is affecting the broader economy.

“ The Federal Reserve is clearly focused on the second half of its dual mandate, which is full employment, and this creates a perfect environment for gold,” Melek said. “There are risks that inflation will remain high and with nominal interest rates falling, real interest rates will fall even faster .”

James Stanley, Senior Market Strategist at Forex.com, also sees gold prices going much higher.

“ Gold is overbought on the monthly chart, weekly chart and daily chart, but that doesn’t matter as the price could continue to rise into overbought territory ,” he noted.

However, while Stanley expects gold prices to rise, he does not recommend chasing the market. Instead, he suggests investors consider buying gold on dips. He sees initial support at $2,650, followed by $2,635 and $2,600.

Despite the potential for short-term volatility, Stanley said central bank easing, with the Federal Reserve cutting interest rates by 50 basis points and China announcing significant stimulus measures this week, has supported gold's bullish trend.

Stanley stressed that gold remains the only hedge against global currency depreciation as central banks around the world begin to ease interest rates.

“ The world’s two largest economies are now actively pressuring growth through the stock market. If the stock market rises, consumers will feel more confident in spending. Gold reflects acceptance of this global easing trend and there is little reason for this trend to reverse, ” he explained. “ Gold is the only protection investors have against the dilution of global currencies .”

The nonfarm payrolls report will be the main event next week. However, other reports, including job openings and manufacturing activity data, are expected to generate some volatility. Markets will also be paying close attention to what Fed Chairman Jerome Powell has to say next week when he speaks at the National Association for Business Economics (NABE) annual meeting. This will be Powell's first in-person event since the central bank's monetary policy meeting last week.

“ So far, Fedspeak has coalesced around the idea that policymakers need to start easing restrictions. However, while the direction is clear, the pace remains uncertain. Fedspeak next week could provide more clarity, with Powell’s outlook at NABE drawing the most attention, ” said fixed income analysts at TDS.

Reference addresses of popular gold shops in Hanoi:

1. Bao Tin Minh Chau - 15 - 29 Tran Nhan Tong, Bui Thi Xuan, Hai Ba Trung, Hanoi

2. DOJI Gold and Gemstone Company - 5 Le Duan, Dien Bien, Ba Dinh, Hanoi

3. SJC store chain in the Northern region - 18 Tran Nhan Tong, Nguyen Du Ward, Hai Ba Trung District, Hanoi City

4. PNJ chain stores in the Northern region - 222 Tran Duy Hung, Trung Hoa, Cau Giay, Hanoi

5. Phu Quy Gold and Silver - No. 30 Tran Nhan Tong, Hai Ba Trung, Hanoi

6. Ngoc Anh Gold and Silver – No. 47 Lo Duc, Pham Dinh Ho, Hai Ba Trung, Hanoi

7. Quy Tung Gold – No. 102 Khuong Dinh, Thanh Xuan, Hanoi

8. Bao Tin Lan Vy - No. 84A, Tran Duy Hung, Cau Giay, Hanoi

9. Hoang Anh Gold and Silver – No. 43 Thai Thinh, Dong Da, Hanoi

10. Huy Thanh Jewelry - No. 23/100 (old number: No. 30A, lane 8), Doi Can, Ba Dinh, Hanoi

Reference addresses of popular gold shops in Ho Chi Minh City:

1. Mi Hong Gold Shop - 306 Bui Huu Nghia, Ward 2, Binh Thanh District, HCMC

2. Kim Ngoc Thuy Gold Shop - 466 Hai Ba Trung, Tan Dinh Ward, District 1, HCMC

3. Saigon Jewelry Company Limited - 418-420 Nguyen Thi Minh Khai, Ward 5, District 3, HCMC

4. Tan Tien Jewelry - No. 161 Hanoi Highway, Thao Dien Ward, District 2, HCMC

5. Ngoc Tham Jewelry - No. 161 Hanoi Highway, Thao Dien Ward, District 2, HCMC

6. Kim Thanh Thao Gold Shop - 209 Tan Huong, Tan Quy Ward, Tan Phu District, HCMC

7. Kim Thanh Nam Gold Shop - 81A, Nguyen Duy Trinh, Binh Trung Tay Ward, District 2, HCMC

8. Kim Mai Gold Shop - 84C, Cong Quynh, Pham Ngu Lao Ward, District 1, HCMC

9. PNJ chain stores in the Southern region - Booth R011838, Ground floor of Diamond Plaza Shopping Center, 34 Le Duan, Ben Nghe Ward, District 1, HCMC

10. DOJI Gold and Gemstone Company – 81-85 Ham Nghi, Nguyen Thai Binh Ward, District 1, HCMC

Source: https://congthuong.vn/gia-vang-hom-nay-2892024-vang-the-gioi-giam-nhe-348872.html