Gold ring price decreased while SJC gold bar price remained stable

Specifically, at 9:00 a.m., Saigon Jewelry Company (SJC) announced the selling price of SJC gold bars at 79 - 81 million VND/tael (buy - sell), keeping the listed price in both buying and selling directions unchanged compared to the closing price yesterday.

DOJI Gold and Gemstone Group listed the price of SJC gold bars at 79 - 81 million VND/tael (buy - sell), keeping the listed price in both buying and selling directions unchanged compared to yesterday's closing price.

While the price of gold bars remains stable, the price of gold rings decreases.

DOJI Gold and Gemstone Group listed the price of gold rings at 77 - 78.2 million VND/tael (buy - sell), down 150 thousand VND/tael in both buying and selling directions compared to yesterday's closing price.

Saigon Jewelry Company (SJC) listed the price of gold rings at 76.9 - 78.2 million VND/tael (buy - sell), down 200,000 VND/tael in both buying and selling compared to yesterday's closing price.

Previously, the price of gold for December 2024 delivery in the US closed at $2,517.80/ounce, down $29 (1.1%) from the previous trading session. During this session, the price of gold was traded at $2,506.45/ounce, but still 3% lower than the peak of $2,570.40/ounce set on August 20.

Since the beginning of the year, gold prices have increased by more than 20% and are the second-highest-growing precious metal, after silver with a 22% increase.

Wall Street expects the Fed to cut interest rates by 0.5 percentage points at its meeting on September 18. The possibility of a US rate cut - logically - would push the US dollar and US government bond yields down and send gold prices higher.