SJC gold bar price

9999 gold ring price

As of 6:00 a.m., the price of 9999 Hung Thinh Vuong round gold rings at DOJI was listed at 76.25-77.50 million VND/tael (buy - sell), an increase of 200,000 VND/tael for buying and an increase of 250,000 VND/tael for selling compared to early this morning.

Saigon Jewelry Company listed the price of gold rings at 76.15-77.5 million VND/tael (buy - sell), an increase of 200,000 VND/tael for both buying and selling.

Bao Tin Minh Chau listed the price of gold rings at 76.28-77.48 million VND/tael (buy - sell), an increase of 250,000 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, up 5 USD/ounce compared to early yesterday morning.

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 10, 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 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.

Notable economic data for the week ahead include the release of the US PPI for July on Tuesday, followed by the US CPI for July on Wednesday, US retail sales for July and weekly US jobless claims on Thursday, and US housing starts and building permits for July on Friday morning...

Investors are also waiting for the FED's interest rate decision in September to make a decision.