Updated gold price at the end of session 10.11: Soaring, reaching a two-week peak

SJC gold bar price

As of 6:10 p.m., DOJI Group listed the price of SJC gold bars at 148.2-150.2 million VND/tael (buy in - sell out), an increase of 1.8 million VND/tael in both directions. The difference between buying and selling prices is at 2 million VND/tael.

The price of SJC gold bars was listed by Bao Tin Minh Chau at 148.7-150.2 million VND/tael (buy - sell), an increase of 1.8 million VND/tael in both directions. The difference between buying and selling prices is at 1.5 million VND/tael.

Phu Quy Jewelry Group listed the price of SJC gold bars at 147.2-150.2 million VND/tael (buy - sell), an increase of 1.8 million VND/tael in both directions. The difference between buying and selling prices is at 3 million VND/tael.

9999 gold ring price

As of 6:10 p.m., DOJI Group listed the price of gold rings at 146.5-149.5 million VND/tael (buy - sell), an increase of 1.5 million VND/tael in both directions. The difference between buying and selling is 3 million VND/tael.

Bao Tin Minh Chau listed the price of gold rings at 147.5-150.5 million VND/tael (buy - sell), an increase of 1.7 million VND/tael in both directions. The difference between buying and selling is 3 million VND/tael.

Phu Quy Gold and Stone Group listed the price of gold rings at 147.2-150.2 million VND/tael (buy - sell), an increase of 1.8 million VND/tael in both directions. The difference between buying and selling prices is at 3 million VND/tael.

The high buying and selling distance increases the risk for individual investors. Personal investors, especially those with a "surfing" mentality, need to consider carefully before putting money down.

World gold price

The world gold price was listed at 6:10 p.m., at 4,077.6 USD/ounce, up sharply by 78 USD compared to a day ago.

Gold price forecast

Gold prices rose 2% in the trading session on Monday, to a two-week high, as weak US economic data reinforced expectations that the Federal Reserve (FED) will cut interest rates next month, while the US dollar weakened, along with a series of weak economic data, raising concerns about global growth.

The US economy lost jobs in October, mainly in the government and retail sectors, while cost cuts and the application of artificial intelligence (AI) caused the number of layoff notices to increase sharply, according to data released last week.

US consumer confidence fell to its lowest level in nearly 3 and a half years in early November, amid concerns about the economic impact of the longest government shutdown in history, according to a survey released on Friday.

According to CME FedWatch tool, investors now see a 67% chance of the Federal Reserve cutting interest rates in December. Gold - un interest-bearing assets often benefit in a low interest rate environment and when economic instability increases.

There are many concerns about the US economy as weak data and the focus of the market is still the US dollar index, said Jigar Trivedi, senior analyst at Reliance Securities.

He added that demand for gold as a safe haven asset has increased, as the prolonged trade war and geopolitical tensions continue to escalate, thereby supporting the price of precious metals.

Investors now see a 65% chance of a rate cut in December.

Mr. Jigar Trivedi commented: "In general, this is a favorable scenario for gold and the general trend is still positive... we can soon see gold prices reach the 4,120 - 4,130 USD/ounce range".

SPDR Gold Trust - the world's largest gold ETF - said that gold holdings increased by 0.16% to 1,042.06 tons on Friday, compared to 1,040.35 tons on Thursday.

In India, physical demand for gold remained weak last week due to strong price fluctuations that made buyers hesitant, forcing dealers to deeply reduce prices to stimulate demand. Meanwhile, demand in China has also cooled due to changes in tax regulations.