Update SJC gold price
As of 5:40 p.m., the price of SJC gold bars was listed by DOJI Group at 83 - 85 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 83 - 85 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 Bao Tin Minh Chau is at 2 million VND/tael.
Price of round gold ring 9999
As of 5:40 p.m. today, the price of 9999 Hung Thinh Vuong round gold rings at DOJI is listed at 82.95 - 83.85 million VND/tael (buy - sell), an increase of 400,000 VND/tael in both directions.
Bao Tin Minh Chau listed the price of plain round rings at 82.93 - 83.83 million VND/tael, an increase of 410,000 VND/tael in both directions.
World gold price
As of 5:40 p.m. (Vietnam time), the world gold price listed on Kitco was at 2,659.5 USD/ounce, up 2.4 USD/ounce.
Gold Price Forecast
World gold prices recovered despite the increase in the USD index. Recorded at 5:40 p.m. on October 14, the US Dollar Index, which measures the fluctuations of the greenback against 6 major currencies, was at 102.860 points (up 0.18%).
The economic calendar is relatively light this week, but markets will still be watching U.S. retail sales data on Thursday to see if consumer spending continues to be resilient. The other big news event is the European Central Bank's monetary policy decision early Thursday.
Investors are awaiting speeches from US Federal Reserve officials this week for further clues on upcoming interest rate cuts, along with US retail sales data.
Analyst Tim Waterer at brokerage KCM Trade said that China's commitment to fiscal stimulus is a positive factor for gold demand, but the market still needs more concrete measures.
Adam Button, head of currency strategy at Forexlive.com, said that gold prices will move sideways in the short term. However, this expert said that gold has shown impressive resilience when escaping the strength of the US dollar and rising Treasury yields.
“There’s no good news for gold this week, as far as I can see. Most of the news is positive for the dollar and bonds, but gold is holding steady,” Button said. Despite the higher-than-expected US CPI, he doesn’t think there are too many people betting on a real recovery in inflation.
“I see CPI as bad news for gold because the dollar is strong. Equities are at all-time highs and that’s definitely a competitive factor. I’m very focused on China’s stimulus,” he said.
Meanwhile, Michael Moor - founder of Moor Analytics - said that the technical picture is currently showing many mixed trends in the coming time.
See more news related to gold prices HERE...
