On September 9, the SJC gold price remained unchanged from the previous week. Gold bars are currently bought by gold companies at 78.5 million VND per tael and sold at 80.5 million VND per tael.
Gold ring prices dropped by 50,000-150,000 VND per tael. Specifically, SJC Company is listing gold ring prices at 77.15-78.55 million VND per tael, down 150,000 VND per tael for buyers and 50,000 VND per tael for sellers.
DOJI Group applied the price of 77.3-78.45 million VND per tael, down 150,000 VND per tael for both buying and selling. Bao Tin Minh Chau also decreased by 150,000 VND to 77.28-78.48 million VND per tael.
Meanwhile, PNJ increased by 100,000 VND per tael for buyers and 50,000 VND per tael for sellers, to 77.3-78.45 million VND per tael.
In the international market, the price of gold fell below the 2,500 USD/ounce mark. The yellow metal was trading at 2,497 USD/ounce at 9:30 am, equivalent to about 75 million VND per tael when converted at the current VND/USD exchange rate, excluding taxes and fees.
Fourteen analysts participated in Kitco’s gold survey, and only four experts, or 29%, expected gold prices to rise this week. Meanwhile, seven analysts, accounting for 50%, believed that gold would trade lower. The remaining three experts, or 21%, predicted that the precious metal’s price would move sideways.
On the other hand, 177 votes were cast in Kitco’s online poll, with Main Street investors remaining optimistic. Specifically, 100 retail investors, or 57%, anticipated higher gold prices this week. Only 29, or 16%, forecast lower gold prices, while 48 people, representing 27%, expected prices to stabilize.
The Commodities Rundown: Oil, Copper, Aluminum, Steel, and Rubber Rally, While Gold Holds Steady
As of the market close on September 9th, commodities were mostly on the rise, with oil, copper, aluminum, steel, rubber, and coffee futures all posting gains. Gold prices held steady, while natural gas in the US fell.
