Gold price today September 27, 2024: World gold may reach 2,700 USD this weekend

Domestic gold price today September 27, 2024

At the time of survey at 5:00 a.m. on September 27, 2024, the gold price on the trading floors of some companies was as follows:

DOJI listed the price of 9999 gold today at 82.45 million VND/tael for buying and 83.30 million VND/tael for selling. Compared to yesterday, the price of gold rings increased by 500,000 VND/tael for buying - increased by 350,000 VND/tael for selling.

At Mi Hong Jewelry Company, the price of Mi Hong gold at the time of survey was listed at 83-83.5 million VND/tael (buy - sell). Compared to yesterday, the gold price increased slightly by 300,000 VND/tael for buying, and remained the same for selling.

SJC gold price at Bao Tin Minh Chau Company Limited is also traded by the enterprise at 81.5-83.5 million VND/tael (buy in - sell out). Meanwhile, at Bao Tin Manh Hai, it is being traded at 81.6-83.5 million VND/tael (buy in - sell out).

The latest gold price list today, September 27, 2024 is as follows:

World gold price today September 27, 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 2,666.34 USD/Ounce. Today's gold price increased by 3.22 USD/Ounce compared to yesterday's gold price. Converted according to the USD exchange rate, on the free market (25,100 VND/USD), the world gold price is about 81.58 million VND/tael (excluding taxes and fees). Thus, the price of SJC gold bars is 1.91 million VND/tael higher than the international gold price.

Gold prices rose as US bond yields fell and the dollar weakened, making the metal more attractive when interest rates are low. Gold is also considered a safe haven, and prices rose due to geopolitical tensions, especially the conflict in the Middle East between Israel and Hezbollah.

Gold prices have rallied significantly, nearing $570 an ounce, after the US Federal Reserve cut interest rates by 0.5%, and are now heading towards a new high of $2,700 an ounce.

The upcoming US presidential election could boost gold prices due to market uncertainties, making gold a safe haven for investors.

Gold Price Forecast

Despite profit-taking selling pressure, gold prices remained steady after hitting a new record on Wednesday. Investors believe that upcoming comments from Fed Chairman Jerome Powell and US inflation data will support further rate cuts.

Market confidence in the Fed has driven the recent rise in gold prices, said expert Han Tan from Exinity Group.

Mr. Tan predicts that there are few barriers to gold reaching $2,700 an ounce by the end of 2024. He is even more optimistic, saying that gold could reach $3,000 an ounce if the US economy cannot “soft land.”

Blue Line Futures strategist Phillip Streible also said that gold could hit $2,700 an ounce this week if the labor market weakens and the Fed confirms a 50 basis point interest rate cut at its next meeting.

Investors are paying attention to the upcoming speech by US Federal Reserve Chairman Jerome Powell and the US inflation report, due to be released later in the week.

Earlier, Austan Goolsbee, President of the Chicago Fed, made headlines when he predicted that there would be more interest rate cuts next year.

Hung Cuong