Gold Prices Bounce Back Amid Expectations of Fed Rate Hike

The global gold market has seen a recovery in prices after a brief decline. According to Kitco, the price of gold rose by $32.1 per ounce on September 11th, reaching $4,349.70 per ounce and a 0.74% increase over the previous session.

Domestic gold prices have also risen in line with the global market. As of September 12th, SJC gold bars are priced between 143.0 - 146.0 million VND/ounce at various retailers, while 99.99% pure gold rings range from 142.5 - 145.5 million VND/ounce.

Experts predict that gold prices will rise next week, with nine out of 14 surveyed by Kitco News predicting an increase in prices. This optimistic outlook is based on the expectation that the Federal Reserve will raise interest rates next week, which could lead to a short-term bottom in gold prices.