Gold Price Hits Record High on 16/09/2024: What’s the Next Forecast

Domestic Gold Prices Today: Key Figures

Today, domestic gold prices have seen a significant increase, with major brands like SJC, DOJI, and PNJ all listing nearly 80 million VND per tael. This is the highest price in several months, reflecting a strong rise in domestic demand for gold.

SJC Gold: Buying at 78.5 million VND/tael, selling at 80.5 million VND/tael.
DOJI Gold: Buying at 78.5 million VND/tael, selling at 80.5 million VND/tael.
PNJ Gold Rings: Trading at 77.95 – 79.1 million VND/tael.

This increase indicates a trend of people buying more gold to safeguard their assets during periods of economic instability.

Global Gold Price Breaks Record

On September 16, 2024, the global gold price officially exceeded 2,600 USD/ounce, setting an unprecedented record. This surge is driven by several factors, including:

Global inflation concerns.
Monetary policy decisions from the Federal Reserve (Fed).
Economic and political instability.

Gold surpassing this level not only marks a significant milestone for the market but also reaffirms gold’s status as a safe-haven asset amidst uncertainty.

Gold Price Forecast

In the short term, gold prices are likely to continue their upward trend if economic and political conditions remain unstable. However, the Fed’s interest rate decision next week will be a crucial factor in guiding gold prices.

If interest rates remain low, gold will continue to be an attractive investment channel. Investors should closely monitor market developments to devise appropriate investment strategies.

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Conclusion

In summary, gold prices on September 16 have set a new record, demonstrating gold’s strength amidst global economic fluctuations. Investors should exercise caution and stay updated with global economic policy information, especially from the Fed, to make smart and informed investment decisions. Gold continues to be considered a safe-haven asset, but market volatility needs careful evaluation before making investment choices.

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