Update on the closing price of gold on October 12: Soaring, about to break the peak

Update SJC gold price

As of 5:00 p.m., the price of SJC gold bars listed by DOJI Group was at 82.5 - 84.5 million VND/tael (buy - sell).

Compared to the close of the previous trading session, gold prices at DOJI remained unchanged in both buying and selling directions.

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 82.5 - 84.5 million VND/tael (buy - sell).

Compared to the previous trading session, gold prices at Bao Tin Minh Chau remained unchanged in both buying and selling directions.

The difference between buying and selling price of SJC gold at Bao Tin Minh Chau 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 82.55-83.45 million VND/tael (buy - sell); an increase of 250,000 VND/tael for both buying and selling compared to the close of the previous trading session.

Bao Tin Minh Chau listed the price of plain round rings at 82.52-83.42 million VND/tael, an increase of 240,000 VND/tael for buying and selling.

World gold price

As of 5:00 p.m., the world gold price listed on Kitco was at 2,657.1 USD/ounce, up 19.8 USD/ounce compared to yesterday afternoon.

Gold Price Forecast

World gold prices increased in the context of the USD index decreasing. Recorded at 5:00 p.m. on October 12, the US Dollar Index, which measures the fluctuations of the greenback against 6 major currencies, was at 102.720 points (down 0.05%).

The latest Kitco News weekly gold survey shows that only a majority of industry experts expect prices to rise or trade sideways next week, while a majority of investors remain bullish but numbers are down.

Fifteen analysts took part in the Kitco News gold survey. Seven analysts said they expected prices to rise next week, while two predicted prices would fall. The remaining six analysts, or 40%, were neutral on gold’s near-term outlook.

Meanwhile, 157 votes were cast in Kitco's online poll. 88 traders predicted gold prices would rise next week. While 43 traders predicted the precious metal would fall. The remaining 26 traders predicted prices would trend sideways next week.

Analyst Gary Wagner at gold market website Kitco Metals (Canada) commented: "As the global economic situation remains unstable and geopolitical tensions continue, the appeal of gold as a safe haven asset is likely to continue.

Investors will be closely monitoring key technical levels and fundamental factors that could influence gold's trajectory in the coming weeks and months. Given its recent strength and resilience, gold appears well-positioned to continue its rally, potentially challenging and surpassing its recent all-time highs," said Gary Wagner.