Gold price today September 12, 2024: World gold increased slightly, near record level
Gold price today September 12, 2024: 9999 gold ring price increased by 150,000 VND/tael compared to yesterday. World gold price increased slightly, stabilizing above the 2,500 USD/Ounce mark after the heated US presidential debate.
Domestic gold price today September 12, 2024
At the time of survey at 5:00 a.m. on September 12, 2024, the gold price on the trading floors of some companies was as follows:
The price of 9999 gold today is listed by DOJI at 77.50 million VND/tael for buying and 78.65 million VND/tael for selling. Both prices increased sharply by 150,000 VND/tael in both directions.
At Mi Hong Jewelry Company, the price of Mi Hong gold at the time of survey was listed at 79.5-80.5 million VND/tael (buy - sell).
SJC gold price at Bao Tin Minh Chau Company Limited is also traded by the enterprise at 78.5-80.5 million VND/tael (buy in - sell out). Meanwhile, at Bao Tin Manh Hai, it is being traded at 78.5-80.5 million VND/tael (buy in - sell out).
The latest gold price list today, September 12, 2024 is as follows:
| Gold price today | September 12, 2024 (Million VND) | Difference (thousand dong/tael) | ||
| Buy | Sell out | Buy | Sell out | |
| SJC in Hanoi | 78.5 | 80.5 | - | - |
| DOJI Group | 78.5 | 80.5 | - | - |
| Mi Hong | 79.5 | 80.5 | - | - |
| PNJ | 78.5 | 80.5 | - | - |
| Vietinbank Gold | - | 80.5 | - | - |
| Bao Tin Minh Chau | 78.5 | 80.5 | - | - |
| Bao Tin Manh Hai | 78.5 | 80.5 | - | - |
| 1.DOJI- Updated: 12/9/2024 05:10 - Source website time - ▼/▲ Compared to yesterday. | ||
| Type | Buy | Sell out |
| AVPL/SJC HN | 78,500 | 80,500 |
| AVPL/SJC HCM | 78,500 | 80,500 |
| AVPL/SJC DN | 78,500 | 80,500 |
| Raw material 9999 - HN | 77,450▲150K | 77,600▲150K |
| Raw materials 999 - HN | 77,350▲150K | 77,500▲150K |
| AVPL/SJC Can Tho | 78,500 | 80,500 |
| 2.PNJ- Updated: 12/9/2024 05:10 - Source website time - ▼/▲ Compared to yesterday. | ||
| Type | Buy | Sell out |
| HCMC - PNJ | 77,500▲150K | 78,650▲150K |
| HCMC - SJC | 78,500 | 80,500 |
| Hanoi - PNJ | 77,500▲150K | 78,650▲150K |
| Hanoi - SJC | 78,500 | 80,500 |
| Da Nang - PNJ | 77,500▲150K | 78,650▲150K |
| Da Nang - SJC | 78,500 | 80,500 |
| Western Region - PNJ | 77,500▲150K | 78,650▲150K |
| Western Region - SJC | 78,500 | 80,500 |
| Jewelry gold price - PNJ | 77,500▲150K | 78,650▲150K |
| Jewelry gold price - SJC | 78,500 | 80,500 |
| Jewelry gold price - Southeast | PNJ | 77,500▲150K |
| Jewelry gold price - SJC | 78,500 | 80,500 |
| Jewelry gold price - Jewelry gold price | PNJ 999.9 Plain Ring | 77,500▲150K |
| Jewelry gold price - Jewelry gold 999.9 | 77,400▲200K | 78,200▲200K |
| Jewelry gold price - 999 jewelry gold | 77,320▲200K | 78,120▲200K |
| Jewelry gold price - 99 jewelry gold | 76,520▲200K | 77,520▲200K |
| Jewelry gold price - 916 gold (22K) | 71,230▲180K | 71,730▲180K |
| Jewelry gold price - 750 gold (18K) | 57,400▲150K | 58,800▲150K |
| Jewelry gold price - 680 gold (16.3K) | 51,930▲140K | 53,330▲140K |
| Jewelry gold price - 650 gold (15.6K) | 49,580▲130K | 50,980▲130K |
| Jewelry gold price - 610 gold (14.6K) | 46,450▲120K | 47,850▲120K |
| Jewelry gold price - 585 gold (14K) | 44,500▲120K | 45,900▲120K |
| Jewelry gold price - 416 gold (10K) | 31,280▲80K | 32,680▲80K |
| Jewelry gold price - 375 gold (9K) | 28,080▲80K | 29,480▲80K |
| Jewelry gold price - 333 gold (8K) | 24,560▲70K | 25,960▲70K |
| 3.SJC- Updated: 12/9/2024 05:10 - Source website time - ▼/▲ Compared to yesterday. | ||
| Type | Buy | Sell out |
| SJC 1L, 10L, 1KG | 78,500 | 80,500 |
| SJC 5c | 78,500 | 80,520 |
| SJC 2c, 1C, 5 phan | 78,500 | 80,530 |
| SJC 99.99 gold ring 1 chi, 2 chi, 5 chi | 77,400▲150K | 78,650▲150K |
| SJC 99.99 gold ring 0.3 chi, 0.5 chi | 77,400▲150K | 78,750▲150K |
| 99.99% Jewelry | 77,300▲150K | 78,250▲150K |
| 99% Jewelry | 75,475▲148K | 77,475▲148K |
| Jewelry 68% | 50,865▲102K | 53,365▲102K |
| Jewelry 41.7% | 30,284▲63K | 32,784▲63K |
World gold price today September 12, 2024 and world gold price fluctuation chart in the past 24 hours
According to Kitco, the world gold price recorded at 5:00 a.m. today, Vietnam time, was 2,506.58 USD/ounce. Today's gold price increased by 1.8 USD/ounce compared to yesterday's gold price. Converted according to the USD exchange rate on the free market (25,270 VND/USD), the world gold price is about 77.10 million VND/tael (excluding taxes and fees). Thus, the price of SJC gold bars is 3.39 million VND/tael higher than the international gold price.
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The world gold price is currently holding steady at over 2,500 USD/ounce. Investors are paying attention to US inflation data to assess the possibility of the US Federal Reserve (Fed) cutting interest rates next week.
Daniel Ghali, strategist at TD Securities, said that gold prices are fluctuating in a narrow range, while the market awaits new factors that could affect prices, such as the US presidential debate and inflation data to be released today.
Investors will carefully analyze the US consumer price index (CPI) on September 11 and producer price index (PPI) on September 12 to make investment decisions.
CPI in August is expected to increase 0.2% from the previous month, unchanged from July, according to a Reuters survey.
Gold prices have risen 21% since the start of the year, peaking at $2,531.60 an ounce on August 20. Lower interest rates can reduce the opportunity cost of holding gold, as it does not yield interest.
The market predicts a 73% chance the Fed will cut rates by 0.25% at its meeting on September 17-18, and a 27% chance it will cut by 0.50%, according to the CME FedWatch forecasting tool.
Gold price forecast
Phan Dung Khanh, an expert at Maybank Investment Bank, said that theory suggests that the US Federal Reserve (Fed)'s interest rate cut could support gold prices as it is expected to pump more money into the market. However, Khanh noted that the current Fed interest rate is still high, at 5-5.5%, and has not reached neutral levels, so the rate cut does not necessarily lead to a period of cheap money.
Mr. Khanh commented that although gold prices may continue to increase in the coming time, the possibility of a sharp increase is not high. He does not expect gold prices to increase beyond $3,000/ounce this year.
Based on observations, Mr. Khanh said that in a decade, there are usually 1-2 years when gold prices reach historical peaks. With gold prices peaking in late 2023 and now in the second half of 2024, he predicts that gold prices will not increase as strongly as before.
Mr. Khanh predicted that although gold prices may continue to rise, the rate of increase will not be as fast as in the first half of the year. He also said that gold prices may be close to their historical peak if the Fed decides to cut interest rates.
