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Gold prices face pressure from Fed rate hike expectations
Gold prices are experiencing volatility as markets await the Federal Reserve's interest rate decision. In Vietnam, SJC gold bar prices have stabilized at approximately 142.3 million VND for buying and 145.3 million VND for selling per tael, following recent downward adjustments.
Globally, spot gold prices have fluctuated around 4,290 USD per ounce. The market is currently pricing in a high probability of a 25 basis point rate hike by the Fed. This potential tightening, combined with a strengthening US dollar and rising Treasury yields, is exerting downward pressure on precious metals.
Despite these pressures, some financial institutions remain optimistic. UOB Research suggests gold may have formed a temporary bottom near 4,000 USD per ounce, while Goldman Sachs forecasts gold could reach 4,900 USD per ounce by year-end, driven by central bank demand. Additionally, BlackRock's gold ETFs recently increased their holdings by 2.4 tons, signaling continued institutional interest.
Entities
BlackRock · Doji · Federal Reserve · Goldman Sachs · Kitco News · SJC · UOB · UOB Bank · Vietnam
Claims
What the coverage asserts, and how many sources carry each claim.
- [● 11 SOURCES] SJC gold bar prices decreased by 300,000 VND per tael in both buying and selling directions compared to the previous session. kinhdoanhvaphattrien.vn · thuonggiaonline.vn · thuonghieusanpham.vn · tienphong.vn · baoquocte.vn · +4 more
- [● 3 SOURCES] Global gold prices were trading at approximately 4,350 USD per ounce. kinhdoanhvaphattrien.vn · baohatinh.vn
- [● 9 SOURCES] Precious metals are under pressure ahead of the US Federal Reserve interest rate meeting. roshanpakistannews.com · thuonggiaonline.vn · soha.vn · timesng.com · baoquocte.vn
- [● 6 SOURCES] SJC gold bar prices were listed at 142.7 million VND for buying and 145.7 million VND for selling per tael. kinhdoanhvaphattrien.vn · baoquocte.vn
- [● 4 SOURCES] The State Bank of Vietnam announced the central exchange rate for September 14 at 25,607 VND/USD. tienphong.vn
- [● 2 SOURCES] BlackRock gold ETFs purchased 2.4 tons of gold on September 14. cafebiz.vn · cafef.vn
- [● 2 SOURCES] Oil prices rose above 108 USD per barrel due to Middle East supply concerns.
- [● 2 SOURCES] Gold prices are expected to rise by the end of the year. baohatinh.vn · soha.vn
- [○ 1 SOURCE] We believe the market has formed a temporary bottom around 4,000 USD per ounce. baohatinh.vn
- [○ 1 SOURCE] Goldman Sachs Research forecasts gold could reach 4,900 USD per ounce by the end of the year. baohatinh.vn
- [● 4 SOURCES] Spot gold price was 4,293.29 USD per ounce on September 16. baogialai.com.vn · thoibaotaichinhvietnam.vn · doanhnghieptiepthi.vn · baoquocte.vn
- [● 2 SOURCES] The market is pricing in a 90% probability of a 25 basis point interest rate hike by the Fed. thoibaotaichinhvietnam.vn · finans.mynet.com