Update SJC gold price
As of 5:00 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 5:00 p.m. today, the price of 9999 Hung Thinh Vuong round gold rings at DOJI is listed at 84.7-85.7 million VND/tael (buy - sell), an increase of 150,000 VND/tael for both buying and selling.
Bao Tin Minh Chau listed the price of plain round rings at 84.68-85.68 million VND/tael, an increase of 160,000 VND/tael for both buying and selling.
World gold price
As of 5:00 p.m., the world gold price listed on Kitco was at 2,721.9 USD/ounce, up 9 USD/ounce.
Gold Price Forecast
World gold prices increased sharply in the context of the USD index decreasing. Recorded at 5:00 p.m. on October 19, the US Dollar Index, which measures the fluctuations of the greenback against 6 major currencies, was at 103.310 points (down 0.33%).
Neils Christensen, an analyst at Kitco News, said the gold market continued to rally, breaking new records, even as the US housing sector showed signs of stabilization.
Housing starts fell 0.5% in September to a seasonally adjusted annual rate of 1.354 million units, down from August's 1.36 million unit rate, the Commerce Department said Friday. The data was roughly in line with expectations.
The momentum from the US presidential election will continue to push gold prices higher until the end of the year, regardless of which party wins, said commodity analysts at ING: "Central banks are also expected to continue to increase their holdings, which will be supportive."
Gold prices rose sharply, reaching a record high as buyers continued to accelerate. Investors rushed to buy as demand for safe havens increased. Currently, bullish technical factors continue to push the price of the precious metal higher. Geopolitical tensions in the Middle East remain high. Recently, Israeli Foreign Minister Israel Katz announced the killing of Hamas leader Yahya Sinwar.
According to Reuters, the Israeli military said Yahya Sinwar was one of three Hamas members killed in a ground attack in the city of Rafah in the southern Gaza Strip, but did not specify when it happened.
Central bank buying has been a key driver of this year’s record bullion rally. Officials from central banks in Mexico, Mongolia and the Czech Republic touted their increased holdings of gold reserves at the industry’s annual conference hosted by the London Bullion Market Association on Monday.
Gold as a percentage of national reserves is likely to rise in coming years amid rising geopolitical tensions and lower interest rates, officials said.
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