Update SJC gold price
As of 6:00 p.m., the price of SJC gold bars was listed by DOJI Group at 82-84 million VND/tael (buy - sell).
Compared to the beginning of the previous trading session, gold price at DOJI increased by 500,000 VND/tael for both buying and selling.
The difference between buying and selling price of SJC gold at DOJI Group is at 2 million VND/tael.
Meanwhile, Bao Tin Minh Chau listed the price of SJC gold at 82 - 84 million VND/tael (buy - sell).
Compared to the beginning of the previous trading session, gold price at Bao Tin Minh Chau increased by 500,000 VND/tael for both buying and selling.
The difference between buying and selling price of SJC gold at Saigon Jewelry Company is at 2 million VND/tael.
Price of round gold ring 9999
As of 5:00 p.m. today, the price of 9999 Hung Thinh Vuong round gold rings at DOJI is listed at 81.90-82.90 million VND/tael (buy - sell), down 750,000 VND/tael for buying and down 450,000 VND/tael for selling.
Bao Tin Minh Chau also adjusted the price of plain round gold rings to increase to 81.88-82.88 million VND/tael (buy - sell), down 660,000 VND for buying and down 560,000 VND/tael for selling.
In recent sessions, the price of gold rings has often fluctuated in the same direction as the world market. Investors can refer to the world market and expert opinions before making investment decisions.
World gold price
As of 6:05 p.m., the world gold price listed on Kitco was at 2,650.6 USD/ounce, down 2.8 USD/ounce compared to the close yesterday afternoon.
Gold Price Forecast
World gold prices recovered slightly despite the strengthening of the USD index. Recorded at 6:05 p.m. on October 1, the US Dollar Index, which measures the greenback's fluctuations against six major currencies, was at 100.757 points (up 0.22%).
World gold prices have fallen sharply due to profit-taking by investors. Gold investors are increasing their selling to avoid risks as the US is about to release its employment report.
According to Kitco - world gold prices are under pressure when the FED signals a moderate pace in the next interest rate easing cycle. Chairman of the US Federal Reserve (FED) - Mr. Jerome Powell has just struck a rather positive tone when noting that "the economy is in a solid state". He did not give much direction on monetary policy.
“Looking ahead, if the economy develops as expected, policy will shift to a more neutral direction. But we are not on any pre-determined path. The risks are two-fold and we will continue to make our decisions meeting by meeting.
“In considering additional policy adjustments, we will carefully assess incoming data, the evolving outlook, and the balance of risks,” Mr. Powell said.
According to CME's FedWatch tool, the market now estimates the probability of the Fed cutting interest rates by 0.25 percentage points in November at about 62%, up from 47% on September 27.
Gold prices posted their strongest quarterly gain since 2020 in the third quarter, after the Fed kicked off its rate-cutting cycle with a 0.5 percentage point cut at its September meeting.
Marc Chandler - CEO of Bannockburn Global Forex, assessed that this week's US employment report is very important, if the market receives a not-so-good employment number, the gold price will continue to break out. On the contrary, a positive scenario will put pressure on gold and push the price lower.
In addition, some experts commented that gold has set a record level for 6 consecutive sessions last week. Therefore, in the short term, most are very cautious about gold.
See more news related to gold prices HERE...
