Gold price today September 17, 2024: World gold can reach 2,600 USD/Ounce
Gold price today September 17, 2024: Domestic 9999 gold ring price increased by 100,000 VND, reaching 79.2 million VND/tael. World gold price can reach up to 2,600 USD/Ounce
Domestic gold price today September 17, 2024
At the time of survey at 5:00 a.m. on September 17, 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 78.00 million VND/tael for buying and 79.20 million VND/tael for selling. An increase of 100,000 in both directions compared to yesterday.
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 17, 2024 is as follows:
| Gold price today | September 17, 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: 9/17/2024 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 | 77,950▲100K | 78,150▲100K |
| Raw materials 999 - HN | 77,850▲100K | 78,050▲100K |
| AVPL/SJC Can Tho | 78,500 | 80,500 |
| 2.PNJ- Updated: 9/17/2024 05:10 - Source website time - ▼/▲ Compared to yesterday. | ||
| Type | Buy | Sell out |
| HCMC - PNJ | 78,000▲50K | 79,200▲100K |
| HCMC - SJC | 78,500 | 80,500 |
| Hanoi - PNJ | 78,000▲50K | 79,200▲100K |
| Hanoi - SJC | 78,500 | 80,500 |
| Da Nang - PNJ | 78,000▲50K | 79,200▲100K |
| Da Nang - SJC | 78,500 | 80,500 |
| Western Region - PNJ | 78,000▲50K | 79,200▲100K |
| Western Region - SJC | 78,500 | 80,500 |
| Jewelry gold price - PNJ | 78,000▲50K | 79,200▲100K |
| Jewelry gold price - SJC | 78,500 | 80,500 |
| Jewelry gold price - Southeast | PNJ | 78,000▲50K |
| Jewelry gold price - SJC | 78,500 | 80,500 |
| Jewelry gold price - Jewelry gold price | PNJ 999.9 Plain Ring | 78,000▲50K |
| Jewelry gold price - Jewelry gold 999.9 | 77,900 | 78,700 |
| Jewelry gold price - 999 jewelry gold | 77,820 | 78,620 |
| Jewelry gold price - 99 jewelry gold | 77,010 | 78,010 |
| Jewelry gold price - 916 gold (22K) | 71,690 | 72,190 |
| Jewelry gold price - 750 gold (18K) | 57,780 | 59,180 |
| Jewelry gold price - 680 gold (16.3K) | 52,270 | 53,670 |
| Jewelry gold price - 650 gold (15.6K) | 49,910 | 51,310 |
| Jewelry gold price - 610 gold (14.6K) | 46,760 | 48,160 |
| Jewelry gold price - 585 gold (14K) | 44,790 | 46,190 |
| Jewelry gold price - 416 gold (10K) | 31,490 | 32,890 |
| Jewelry gold price - 375 gold (9K) | 28,260 | 29,660 |
| Jewelry gold price - 333 gold (8K) | 24,720 | 26,120 |
| 3.SJC- Updated: 9/17/2024 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 | 77,900▲100K | 79,200▲100K |
| SJC 99.99 gold ring 0.3 chi, 0.5 chi | 77,900▲100K | 79,300▲100K |
| 99.99% Jewelry | 77,800▲100K | 78,800▲100K |
| 99% Jewelry | 76,020▲99K | 78,020▲99K |
| Jewelry 68% | 51,239▲68K | 53,739▲68K |
| Jewelry 41.7% | 30,513▲42K | 33,013▲42K |
World gold price today September 17, 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 2,578.96 USD/Ounce. Today's gold price increased by 0.4 USD/Ounce compared to yesterday's gold price. Converted according to the USD exchange rate, on the free market (25,030 VND/USD), the world gold price is about 78.68 million VND/tael (excluding taxes and fees). Thus, the price of SJC gold bars is 1.81 million VND/tael higher than the international gold price.
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In a recent interview, Mr. Nguyen Quang Huy - CEO of the Faculty of Finance and Banking at Nguyen Trai University, commented that global gold prices are on the rise. The main reason is the reduction of interest rates by the US Federal Reserve (Fed) and the European Central Bank (ECB), along with the tension in Russia - Ukraine and the Middle East.
The Fed is trying to boost economic growth and prevent recession, leading to the possibility of further interest rate cuts in the near future. The ECB has also lowered interest rates, contributing to increased demand for gold as a safe investment channel, especially in the context of the European economy facing many difficulties.
If the conflict continues and shows no signs of abating, the market may turn to gold as a hedge against risk, which could push gold prices even higher. If the war continues, gold prices could continue to climb.
Based on information from CME's FedWatch Tool, there is a 59% chance that the Fed will cut interest rates by 0.5%, while the chance of a 0.25% cut is 41%.
Gold price forecast
The chances of gold prices rising in the long term are still seen as positive, regardless of the level of interest rate cuts that the Fed may apply.
Adam Button from Forexlive.com said that gold prices could continue to rise, but could also fall if the Fed only cuts interest rates by 0.25%.
Daniel Pavilonis of RJO Futures expressed his view that the gold price rally may have been overstretched in the short term, but there is still room for further upside in the near term. He also predicted that gold prices may fall ahead of the Fed rate decision, with investors likely to take profits ahead of the decision.
Although caution remains, analysts predict that gold prices will likely continue to rise, possibly reaching $2,600 an ounce, according to a recent Kitco survey on gold price trends.
On Wall Street, a survey of 13 analysts found that 62% of them believe gold prices will continue to rise, while only 23% predict prices will fall and 15% believe prices will remain unchanged.
Investors also share this optimistic view, with 57% of the 189 investors surveyed believing gold prices will rise, 25% predicting prices will fall and the rest expecting no change.
Mr. Huy predicts that gold prices could rise to $2,800/ounce by the end of 2024, due to the impact of lower interest rates, along with the Russia-Ukraine war and conflicts in the Middle East. In case the conflict is prolonged and shows no signs of abating, the market may turn to gold as a risk-reduction measure, thereby creating conditions for gold prices to increase even higher.
The increase in gold prices in the international market is likely to affect the domestic gold price. According to experts' predictions, after a period of stability, the domestic gold bar price may increase to 90 million VND/tael and the gold ring price may reach 80 million VND/tael if the upward trend of international gold prices continues.
