Gold price today September 7, 2024: World gold price drops sharply below 2,500 USD/Ounce
Gold price today September 7, 2024: Domestic gold price is stable. World gold price suddenly dropped sharply, breaking the $2,500/ounce mark after the announcement of US employment data.
Domestic gold price today September 7, 2024
At the time of survey at 5:00 a.m. on September 7, 2024, the gold price on the trading floors of some companies was as follows:
DOJI listed the price of 9999 gold today at 77.45 million VND/tael for buying and 78.60 million VND/tael for selling.
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 7, 2024 is as follows:
| Gold price today | September 7, 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: 09/07/2024 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 | 77,400 | 77,550 |
| Raw material 999 - HN | 77,300 | 77,450 |
| AVPL/SJC Can Tho | 78,500 | 80,500 |
| 2.PNJ- Updated: 09/07/2024 05:10 - Source website time - ▼/▲ Compared to yesterday. | ||
| Type | Buy | Sell |
| HCMC - PNJ | 77,400 | 78,600 |
| HCMC - SJC | 78,500 | 80,500 |
| Hanoi - PNJ | 77,400 | 78,600 |
| Hanoi - SJC | 78,500 | 80,500 |
| Da Nang - PNJ | 77,400 | 78,600 |
| Da Nang - SJC | 78,500 | 80,500 |
| Western Region - PNJ | 77,400 | 78,600 |
| Western Region - SJC | 78,500 | 80,500 |
| Jewelry gold price - PNJ | 77,400 | 78,600 |
| Jewelry gold price - SJC | 78,500 | 80,500 |
| Jewelry gold price - Southeast | PNJ | 77,400 |
| Jewelry gold price - SJC | 78,500 | 80,500 |
| 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: 09/07/2024 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 | 77,300 | 78,600 |
| SJC 99.99 gold ring 0.3 chi, 0.5 chi | 77,300 | 78,700 |
| Jewelry 99.99% | 77,200 | 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 7, 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 2,487.68 USD/ounce. Today's gold price decreased by 21.4 USD/ounce compared to yesterday's gold price. Converted according to the USD exchange rate on the free market (25,190 VND/USD), the world gold price is about 76.33 million VND/tael (excluding taxes and fees). Thus, the price of SJC gold bars is 4.17 million VND/tael higher than the international gold price.
Gold prices fell sharply from a near-record level hit earlier in the session, after US jobs data raised doubts about the size of the Federal Reserve's interest rate cut later this month.
The Labor Department reported that nonfarm payrolls increased by 142,000 in August, compared with the 160,000 estimate of economists polled by Reuters. The July figure was also revised down to 89,000. The unemployment rate, however, was at 4.2%, in line with expectations but down from 4.3% a month earlier.
Paper gold traders are debating whether the Fed will cut by 50 basis points or 25 basis points on September 18, and the precious metal is reacting to that, according to Aakash Doshi, head of North American commodities at Citi Research.
Traders now see a 77% chance of a 25 basis point cut by the U.S. central bank this month and a 23% chance of a 50 basis point cut, according to CME's FedWatch tool.
New York Fed President John Williams said an early rate cut would help keep the job market in balance. Federal Reserve Governor Christopher Waller also said it was “time” for the US central bank to begin a series of rate cuts.
Gold Price Forecast
Investment bank Natixis predicts gold prices will average $2,600 an ounce by 2025.
Bernard Dahdah, an analyst at Natixis, said that Asian investors, especially Chinese consumers, played a key role in pushing gold prices higher in the first half of the year.
Dahdah believes it is time for Western investors to enter the gold market so that gold prices can reach new records.
