SJC gold bar price

9999 gold ring price

As of 6:00 a.m., the price of 9999 Hung Thinh Vuong round smooth gold rings at DOJI was listed at 76.35-77.60 million VND/tael (buy - sell), an increase of 100,000 VND/tael for both buying and selling compared to early this morning.

Saigon Jewelry Company listed the price of gold rings at 76.25-77.6 million VND/tael (buy - sell), an increase of 100,000 VND/tael for both buying and selling.

Bao Tin Minh Chau listed the price of gold rings at 76.38-77.58 million VND/tael (buy - sell), an increase of 100,000 VND/tael for both buying and selling.

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 investment decisions.

World gold price

As of 6:00 a.m. on August 10, the world gold price listed on Kitco was at 2,430 USD/ounce.

Gold Price Forecast

World gold prices increased in the context of a slight decrease in the USD index. Recorded at 6:00 a.m. on August 11, the US Dollar Index, which measures the fluctuations of the greenback against 6 major currencies, was at 102.980 points (down 0.04%).

Gold prices fell in line with a global stock sell-off earlier in the week as fears of a U.S. recession mounted, said Ewa Manthey, commodity strategist at ING. Gold is typically a safe haven during times of uncertainty, but Monday’s selling suggests some liquidation of the metal to offset other assets.

Gold prices rose amid strong demand for safe-haven assets and growing expectations of a significant interest rate cut by the US Federal Reserve (FED) in September 2024.

Financial firms including JPMorgan, Citigroup and Wells Fargo have predicted the Fed will cut interest rates by 50 basis points in September 2024 following last week's US jobs data. According to the CME FedWatch tool, the market is pricing in a 72% chance of a 50 basis point rate cut in September, up from 70% on August 5, with another cut expected in December 2024.

Alex Ebkarian, CEO of Allegiance Gold, said the outlook for gold remains strong. If the Fed cuts interest rates by 0.5 percentage points, the gold market will have more recovery.

In addition, tensions in the Middle East continue to fuel the gold market. Gold is considered a hedge against geopolitical and economic uncertainty and tends to thrive in a low-interest-rate environment.

The latest Kitco News weekly gold survey shows that most industry experts see prices moving sideways next week, while a majority of investors expect the precious metal to rise.

Ten analysts participated in the Kitco News gold survey. The majority of experts expect gold to be stable next week. Six experts, or 60%, see gold prices trending sideways, while the remaining 40% see gold rising next week. No one predicts prices will fall.

There were 210 votes cast in Kitco’s online poll. Most Main Street investors remained bullish. 130 retail traders expect gold prices to rise next week. Another 45 predict lower prices. Meanwhile, 35 see prices moving sideways next week.