Domestic gold prices are witnessing a surge, with major gold enterprises listing prices at 78.5-80.5 million VND per tael.
Gold ring prices remain stable, with selling prices currently hovering around 78.5 million VND per tael. Specifically, SJC Company is applying a price range of 77.25-78.65 million VND per tael. Bao Tin Minh Chau also lists a similar range of 77.38-78.58 million VND per tael. DOJI Group and PNJ, respectively, offer gold rings at 77.4-78.5 million VND per tael and 77.35-78.55 million VND per tael.
In the international market, gold prices fluctuate around the 2,500 USD/ounce mark. As of 9:30 AM on September 5th, the spot gold price stood at 2,497 USD/ounce, equivalent to approximately 75 million VND per tael, excluding taxes and fees.
According to Goldman Sachs, the current environment poses significant risks for most popular commodities, while gold offers the best protection against value erosion. Goldman Sachs stated, “Gold stands out as the commodity we are most constructive on for a near-term price rally.” They maintain a price target of 2,700 USD/ounce by early 2025 and have provided a gold trading recommendation for three reasons.
First, central bank gold purchases have tripled since mid-2022. Second, the FED will soon cut interest rates, redirecting Western capital back to the gold market. Finally, analysts believe gold provides a significant hedge for investment portfolios against geopolitical shocks, tariffs, Fed dependency risks, and debt concerns.
The Unexpected Drop in SJC Gold Bar Prices
The SJC gold bar price dropped by 500,000 VND per tael this morning, September 5, while the gold ring price remained stable.
The Golden Opportunity: Unlocking the Shine with SJC’s Golden Touch
A golden opportunity knocks with SJC’s golden touch as prices soar to a dazzling 81.6 million VND per tael.
Today’s gold price in the domestic market remains high for both SJC gold bars and gold rings.
The Golden City’s Glittering Haul: Ho Chi Minh City Seizes Mysterious Gold and Jewelry
Market Management Team 5 inspected and temporarily seized gold and jewelry worth over VND 130 million at four businesses.
The Golden Rush: Global Gold Prices Soar
Gold prices surged by approximately 1%, fueled by robust expectations of a Federal Reserve rate cut in September. Investors are keenly awaiting inflation data for further insights into the potential magnitude of this anticipated reduction.
