Update SJC gold price

Price of round gold ring 9999

As of 6:00 p.m. today, the price of 9999 Hung Thinh Vuong round smooth gold rings at DOJI is listed at 76.40-77.65 million VND/tael (buy - sell), unchanged.

Saigon Jewelry Company listed the price of gold rings at 76.35-77.65 million VND/tael (buy - sell); an increase of 150,000 VND/tael for buying and 100,000 VND/tael for selling.

Bao Tin Minh Chau listed the price of gold rings at 76.43-77.63 million VND/tael (buy - sell), unchanged.

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 8:00 p.m. today, the world gold price listed on Kitco was at $2,460.9/ounce, up $26.8/ounce compared to the close of last week's trading session. However, the precious metal is showing a downward trend.

Gold Price Forecast

World gold prices increased amid the increase in the USD index. At 8:00 p.m., the US Dollar Index, which measures the greenback's fluctuations against six major currencies, was at 103.117 points (down 1.03%).

Precious metals have recovered strongly in recent sessions as the war situation in the Middle East has become increasingly tense, leading many investors to increase their demand for gold as a safe haven asset.

In addition, expectations that the US Federal Reserve (FED) will cut interest rates in September also provided new impetus for precious metals.

Fed Chairman Jerome Powell hinted that a rate cut could be discussed as early as September, if inflation remains in line with expectations.

Policymakers are increasingly confident that inflation is moving toward the Fed's 2% target, Powell said, raising investors' hopes for a possible monetary policy shift at the Fed's September meeting.

According to senior analyst Ricardo Evangelista of ActivTrades - concerns about rising political tensions and expectations that the Fed will pivot monetary policy are catalysts boosting gold.

Sharing the same view, senior market strategist Bob Haberkorn of RJO Futures predicted that the Fed's interest rate cut along with geopolitical risks in the Middle East could push gold prices up to $2,700/ounce.