SJC gold bar price
As of 5:45 p.m., the price of SJC gold bars was listed by DOJI Group and Bao Tin Minh Chau at 142.1-144.1 million VND/tael (buy in - sell out), an increase of 1.3 million VND/tael in both directions. The difference between buying and selling prices is at 2 million VND/tael.
Phu Quy Jewelry Group listed the price of SJC gold bars at 141.3-144.1 million VND/tael (buy in - sell out), an increase of 1.3 million VND/tael in both directions. The difference between buying and selling prices is at 2.8 million VND/tael.
9999 gold ring price
As of 5:45 p.m., DOJI Group listed the price of gold rings at 139.5-142 million VND/tael (buy - sell), an increase of 3 million VND/tael for buying and an increase of 2.5 million VND/tael for selling. The difference between buying and selling is 2.5 million VND/tael.
Bao Tin Minh Chau listed the price of gold rings at 141-144 million VND/tael (buy - sell), an increase of 2.6 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 139.5-142.5 million VND/tael (buy - sell), an increase of 2.2 million VND/tael for both buying and selling. The difference between buying and selling is 3 million VND/tael.
The buying-selling gap is pushed up too high, increasing 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 5:45 p.m. at 4,077.1 USD/ounce, up 60.7 USD compared to a day ago.
Gold price forecast
The precious metal received support as trade tensions between the US and China showed signs of increasing again. In addition, expectations that the US Federal Reserve (FED) will soon cut interest rates also contribute to strengthening the increase of the precious metal.
According to UBS expert Giovanni Staunovo, global trade continues to be a factor of special interest to the market: "Despite signs of temporary easing, the risk of additional tariffs still exists". He said that investment and gold purchase demand from central banks will continue to support prices, with a target of $4,200/ounce.
Goldman Sachs believes that silver prices may continue to increase in the medium term thanks to private investment cash flow, but warns that the risk of short-term fluctuations will be greater than gold.
In October, world spot gold prices surpassed the $4,000/ounce mark, up more than 53% compared to the beginning of the year, marking the strongest increase since 1979, according to data from the World Gold Council (WGC). The world gold price was listed at 6:00 a.m. on October 13 at 4,016.4 USD/ounce.
From the $3,000/ounce mark in March, gold prices have continuously climbed, reaching $3,300 at the end of August and increasing by more than 20% in just the past 6 weeks.
Along with the unprecedented increase, a series of major Chinese banks such as the Bank for Industry and Trade (ICBC), Agricultural Bank (ABC), Construction Bank (CCB) and Ningbo Bank have issued official risk warnings on their websites.
On October 10, ICBC said that factors causing instability in the gold market are increasing, causing strong and unpredictable price fluctuations. The bank recommends that customers " closely monitor market developments, assess risk tolerance and invest reasonably to protect personal assets".
On the same day, CCB announced a series of adjustments to regulations related to gold trading, including raising the minimum investment threshold, changing deposit levels and updating thecircuit breaker rule. The bank emphasized that domestic and world gold price fluctuations are increasing, market risks are increasing, and advised investors to be cautious and alert.
Notable economic data next week
Tuesday: FED Chairman Jerome Powell attends a discussion at the National Association for Business Economics (NABE) Annual Meeting.
Wednesday: New York FED manufacturing survey.
Thursday: survey of FED Philadelphia's business performance.
Note: Gold price data is compared to a day earlier.
See more news related to gold prices HERE...
