Gold Prices Surge: A Bullish Outlook for the Precious Metal
Gold Bars: A Symbol of Wealth and a Safe Haven Investment
Leading Vietnamese gold companies, including SJC, DOJI, and PNJ, have increased their buying prices by up to 100,000 VND per tael, with selling prices also experiencing a surge. SJC’s gold ring prices are now listed at 77.25-78.6 million VND per tael, an increase of 100,000 VND on the buying side and 50,000 VND on the selling side compared to the previous day. Similarly, DOJI has adjusted its rates to 77.35-78.5 million VND per tael, a rise of 50,000 VND, while Bao Tin Minh Chau and PNJ have followed suit with increments of 50,000 VND, now offering rates of 77.33-78.48 million VND and 77.35-78.5 million VND per tael, respectively.
The gold bar prices of these prominent companies are unified at 78.5-80.5 million VND per tael. In the global market, spot gold prices fluctuate around the $2,500 per ounce mark. When converted to VND, the international gold price equates to approximately 75 million VND per tael, exclusive of taxes and fees.
The outlook for gold remains bullish as the Federal Reserve’s interest rate cut draws near. At the upcoming FOMC meeting on September 18, regardless of the magnitude of the rate reduction, investors believe that the era of tight monetary policy is coming to an end, paving the way for a new direction. John Williams, President of the Federal Reserve Bank of New York, justified the impending rate cut by citing well-contained inflation and a cooling labor market.
The Golden Outlook: A Critical Perspective on Short-Term Price Predictions
The September meeting of the US Federal Reserve is fast approaching, and the gold market is in a flutter. Speculations are rife about the extent of interest rate cuts, causing a stir in the market.
The Golden Opportunity: Unveiling the Latest SJC Gold Prices and Beyond
The morning of September 6th saw SJC gold prices remain static from the previous day, with buy and sell rates fixed at 78.5 and 80.5 million VND per tael, respectively.
Oil Falls, Gold Rises, Cocoa at 6.5-Month Low
Closing the trading session on September 4, 2024, crude oil futures fell by over $1 per barrel amid demand concerns. Gold rebounded from lows following weak U.S. jobs data.
