Gold price today September 4, 2024: World gold price drops sharply
Gold price today September 4, 2024: World gold price fell deeply below the 2,500 USD mark and showed no signs of stopping, after the US released its inflation report.
Domestic gold price today September 4, 2024
At the time of survey at 5:00 a.m. on September 4, 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 78.60 million VND/tael for selling, down slightly by 50,000 VND/tael in both buying and selling directions.
At Mi Hong Jewelry Company, the price of Mi Hong gold at the time of survey was listed at 80-81 million VND/tael (buy - sell). Continuing to move sideways compared to yesterday.
SJC gold price at Bao Tin Minh Chau Company Limited is also traded by the enterprise at 79-81 million VND/tael (buy - sell). Meanwhile, at Bao Tin Manh Hai, it is being traded at 79-81 million VND/tael (buy - sell).
The latest gold price list today, September 4, 2024 is as follows:
| Gold price today | September 4, 2024 (million dong) | Difference (thousand dong/tael) | ||
| Buy | Sell | Buy | Sell | |
| SJC in Hanoi | 79 | 81 | - | - |
| DOJI Group | 79 | 81 | - | - |
| Red Eyelashes | 80 | 81 | - | - |
| PNJ | 79 | 81 | - | - |
| Vietinbank Gold | - | 81 | - | - |
| Bao Tin Minh Chau | 79 | 81 | - | - |
| Bao Tin Manh Hai | 79 | 81 | - | - |
| 1.DOJI- Updated: 09/04/2024 05:00 - Source website time - ▼/▲ Compared to yesterday. | ||
| Type | Buy | Sell |
| AVPL/SJC HN | 79,000 | 81,000 |
| AVPL/SJC HCM | 79,000 | 81,000 |
| AVPL/SJC DN | 79,000 | 81,000 |
| Raw material 9999 - HN | 77,350 | 77,550 |
| Raw material 999 - HN | 77,250 | 77,450 |
| AVPL/SJC Can Tho | 79,000 | 81,000 |
| 2.PNJ- Updated: 09/04/2024 05:00 - Source website time - ▼/▲ Compared to yesterday. | ||
| Type | Buy | Sell |
| HCMC - PNJ | 77,400 | 78,600 |
| HCMC - SJC | 79,000 | 81,000 |
| Hanoi - PNJ | 77,400 | 78,600 |
| Hanoi - SJC | 79,000 | 81,000 |
| Da Nang - PNJ | 77,400 | 78,600 |
| Da Nang - SJC | 79,000 | 81,000 |
| Western Region - PNJ | 77,400 | 78,600 |
| Western Region - SJC | 79,000 | 81,000 |
| Jewelry gold price - PNJ | 77,400 | 78,600 |
| Jewelry gold price - SJC | 79,000 | 81,000 |
| Jewelry gold price - Southeast | PNJ | 77,400 |
| Jewelry gold price - SJC | 79,000 | 81,000 |
| Jewelry gold price - Jewelry gold price | PNJ 999.9 Plain Ring | 77,400 |
| Jewelry gold price - Jewelry gold 999.9 | 77,300 | 78,100 |
| Jewelry gold price - Jewelry gold 999 | 77,220 | 78,020 |
| Jewelry gold price - Jewelry gold 99 | 76,420 | 77,420 |
| Jewelry gold price - 916 gold (22K) | 71,140 | 71,640 |
| Jewelry gold price - 750 gold (18K) | 57,330 | 58,730 |
| Jewelry gold price - 680 gold (16.3K) | 51,860 | 53,260 |
| Jewelry gold price - 650 gold (15.6K) | 49,520 | 50,920 |
| Jewelry gold price - 610 gold (14.6K) | 46,390 | 47,790 |
| Jewelry gold price - 585 gold (14K) | 44,440 | 45,840 |
| Jewelry gold price - 416 gold (10K) | 31,240 | 32,640 |
| Jewelry gold price - 375 gold (9K) | 28,040 | 29,440 |
| Jewelry gold price - 333 gold (8K) | 24,520 | 25,920 |
| 3.SJC- Updated: 09/04/2024 05:00 - Source website time - ▼/▲ Compared to yesterday. | ||
| Type | Buy | Sell |
| SJC 1L, 10L, 1KG | 79,000 | 81,000 |
| SJC 5c | 79,000 | 81,020 |
| SJC 2c, 1c, 5c | 79,000 | 81,030 |
| SJC 99.99 gold ring 1 chi, 2 chi, 5 chi | 77,300 | 78,600 |
| SJC 99.99 gold ring 0.3 chi, 0.5 chi | 77,300 | 78,700 |
| Jewelry 99.99% | 77,250 | 78,200 |
| Jewelry 99% | 75,426 | 77,426 |
| Jewelry 68% | 50,831 | 53,331 |
| Jewelry 41.7% | 30,263 | 32,763 |
World gold price today September 4, 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 2,480.72 USD/ounce. Today's gold price decreased by 16.85 USD/ounce compared to yesterday's gold price. Converted according to the USD exchange rate on the free market (25,200 VND/USD), the world gold price is about 76.21 million VND/tael (excluding taxes and fees). Thus, the price of SJC gold bars is 4.78 million VND/tael higher than the international gold price.
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World gold prices have fallen due to concerns that the US Federal Reserve (FED) may not cut interest rates by 50 basis points in September as expected. The latest economic information shows that the possibility of the FED cutting only 25 basis points is higher.
Investors are wondering whether the Fed can cut interest rates by another 100 basis points by the end of 2024, even though gold prices remain high at $2,500/ounce and have the potential to increase.
Phillip Streible from Blue Line Futures said that the weakness in gold prices is an opportunity to buy at low prices, as gold is still in an uptrend.
Naeem Aslam from Zaye Capital Markets said that investors' high expectations of a 50 basis point rate cut by the Fed could hurt the market.
According to CME's FedWatch Tool, the market is pricing in a 25 basis point rate cut by the Fed at its September meeting, with a 30.5% chance of a 50 basis point cut.
Gold Price Forecast
Some experts predict that gold prices could rise to $3,000 an ounce in the coming months due to high inflation. The market is awaiting the US ISM Manufacturing PMI for August, along with the Bank of Canada monetary policy decision and the US JOLTS Employment Report.
Traders will also be watching the ADP employment index, the weekly jobless claims report, and the US ISM services PMI this week, with the key jobs report due next week.
