Gold price today September 12, 2024: World gold price 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:
DOJI listed the price of 9999 gold today 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 Gold and Gemstone Company, the price of Mi Hong gold at the time of survey listed the price of SJC gold 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 dong) | Difference (thousand dong/tael) | ||
| Buy | Sell | Buy | Sell | |
| SJC in Hanoi | 78.5 | 80.5 | - | - |
| DOJI Group | 78.5 | 80.5 | - | - |
| Red Eyelashes | 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 |
| 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 material 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 |
| 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 - Jewelry gold 999 | 77,320▲200K | 78,120▲200K |
| Jewelry gold price - Jewelry gold 99 | 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 |
| SJC 1L, 10L, 1KG | 78,500 | 80,500 |
| SJC 5c | 78,500 | 80,520 |
| SJC 2c, 1c, 5c | 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 |
| Jewelry 99.99% | 77,300▲150K | 78,250▲150K |
| Jewelry 99% | 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 at 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/ounce. Investors are paying attention to US inflation data to assess the possibility that the US Federal Reserve (Fed) will cut 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 closely analyze the US consumer price index (CPI) on September 11 and the producer price index (PPI) on September 12 to make investment decisions.
CPI in August is expected to have increased 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, since it does not yield interest.
Markets are pricing in a 73% chance the Fed will cut rates by 25 basis points at its September 17-18 meeting, and a 27% chance it will cut rates by 50 basis points, according to the CME FedWatch tool.
Gold Price Forecast
Phan Dung Khanh, an expert at Maybank Investment Bank, said that theory suggests that the US Federal Reserve’s (Fed) interest rate cut could support gold prices as it is expected to pump more money into the market. However, Khanh noted that the Fed’s current interest rate is still high, at 5-5.5%, and has not reached neutral levels, so a 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 strong 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 at the end of 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 increase, 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 reaching a historical peak if the Fed decides to cut interest rates.
