Gold Price Update September 12: Prices Rise as Gold Makes Comeback
Gold Price Update: Gold prices rose fast on the morning of September 12. Prices went up in both local and overseas markets. The move followed the August US CPI release. That data shifted what people expect from the Federal Reserve before its next rate call. In the local market, gold also gained. Prices rose for gold rings, SJC gold bars, and gold jewellery. Overseas, gold jumped as well. Traders reacted to new views on US monetary policy and on the US dollar.
9999 Gold Ring Price
At 6:00 AM, Phu Quy Gold and Gems Group posted 9999 gold rings at 142.4 million VND per tael to buy. It set the selling level at 145.8 million VND per tael. The buy side went up by 400,000 VND per tael. The sell side rose by 300,000 VND per tael. DOJI showed 9999 gold rings at 142.8 to 146.8 million VND per tael. Both the buy price and the sell price moved up by 300,000 VND. Bao Tin Minh Chau put 9999 gold rings at 142.6 to 146.6 million VND per tael. Here, both numbers went higher by 200,000 VND.
SJC Gold Bar Price
SJC gold bars also improved. Phu Quy listed SJC bars at 142.4 million VND per tael for buying. The selling price was 145.4 million VND per tael. Both sides climbed by 400,000 VND. DOJI posted SJC bars at 142.4 to 145.4 million VND per tael. The buy and the sell prices each increased by 400,000 VND. Bao Tin Minh Chau also listed SJC bars at 142.4 to 145.4 million VND per tael. Both buying and selling were raised by 400,000 VND. Across these three dealers, the gap between buy and sell was about 3 million VND per tael.Gold jewelry prices climbed on September 12
DOJI put 9999 jewelry gold at 142 to 146 million VND per tael. The buy price went up by 1 million VND, and the sell price rose by 2 million VND. Bao Tin Minh Chau listed Thang Long 9999 Dragon Gold Jewelry at 140.6 to 145.6 million VND per tael. Both the buy and sell prices increased by 1.4 million VND.
Overseas, gold also moved up fast
World gold was around $4,386.8 per ounce. That was up $72.9, or 1.74%. The rise followed the newest US inflation figures. Markets reacted again after the data release. Headline CPI stayed close to what analysts expected. Core inflation came in a bit higher than expected.Gold Price Forecast
August US CPI came in with headline inflation at 3.4% versus last year. That was close to what many people had expected. Core CPI rose 0.3% from the prior month. The market was looking for 0.2%. For the year, core inflation slipped a bit, from 2.5% down to 2.4%. Traders are still leaning on the next Federal Reserve meeting. It is set for September 15 to 16. How US rates may shift matters a lot for gold. At the same time, US Treasury yields and the dollar are moving the market. The two-year Treasury yield is higher. The 10-year yield is sitting near 4.95%. Gold right now is tied to rate expectations and US dollar action. Geopolitical worries still add some safe-haven support. Even so, in the near term, gold direction seems more influenced by real interest rates and Fed expectations. So investors will keep an eye on the Fed’s call. A change in the rate outlook could drive the next big move for gold.
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