Update SJC gold price
As of 6:15 p.m., the price of SJC gold bars was listed by DOJI Group at 84 - 86 million VND/tael (buy - sell).
Compared to the beginning 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 84 - 86 million VND/tael (buy - sell).
Compared to the beginning of 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 6:15 p.m. today, the price of 9999 Hung Thinh Vuong round gold rings at DOJI is listed at 84.55 - 85.55 million VND/tael (buy - sell), an increase of 800,000 VND/tael for both buying and selling.
Bao Tin Minh Chau listed the price of plain round rings at 84.52 - 85.52 million VND/tael, an increase of 880,000 VND/tael for both buying and selling.
This is the highest price ever for gold rings.
World gold price
As of 6:15 p.m., the world gold price listed on Kitco was at 2,712.9 USD/ounce, up 25.8 USD/ounce.
Gold Price Forecast
World gold prices increased sharply in the context of the USD index decreasing. Recorded at 6:15 p.m. on October 18, the US Dollar Index measuring the fluctuations of the greenback against 6 major currencies was at 103.482 points (down 0.16%).
Gold prices surged after the European Central Bank (ECB) cut interest rates across the board by 25 basis points, in line with economists’ expectations. The ECB said that easing inflationary pressures were creating room for monetary policy easing: “Inflation data suggests that the disinflation process is on track.”
Markets are worried about the crisis in the Middle East as Israel battles Hamas in the Gaza Strip and more recently Hezbollah in southern Lebanon.
Gold prices could continue to rise due to geopolitical uncertainty and election-related uncertainty, according to OCBC Bank strategist Christopher Wong.
Recent US retail sales data showed that the world's largest economy is strengthening.However, traders still expect a 90% chance of the US Federal Reserve cutting interest rates in November.The European Central Bank recently cut interest rates for the third time this year.The lower interest rate environment helps increase the appeal of gold.
Meanwhile, according to Ryan McIntyre, an expert at Sprott Asset Management, gold prices will continue to rise in the long term, partly due to the precarious financial situation of many Western countries.Moreover, central banks continue to consider gold an important component of their reserve strategies, emphasizing the role of the precious metal as an investment diversifier and a safe haven in times of geopolitical and economic uncertainty.
See more news related to gold prices HERE...
