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 closing price of last week's trading session, gold price at DOJI increased by 1.5 million 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, Saigon Jewelry Company listed the price of SJC gold at 84-86 VND/tael (buy - sell).
Compared to the closing price of last week's trading session, the gold price at Saigon Jewelry Company SJC increased by 1.5 million VND/tael for both buying and selling.
The difference between buying and selling price of SJC gold at Saigon Jewelry Company is at 2 million VND/tael.
Last week, SJC gold price increased, however the high difference between buying and selling gold caused investors to suffer losses.
If you buy gold at DOJI Group on October 13 at VND84.5 million/tael and sell it today (October 20), you will lose VND500,000/tael. Similarly, those who buy gold at Saigon Jewelry Company SJC will also lose VND500,000/tael.
Currently, the difference between buying and selling gold prices is listed at around 2 million VND/tael. Experts say that this difference is very high, causing investors to face the risk of losing money when investing in the short term.
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 2.15 million VND/tael for buying and an increase of 2.25 million VND/tael for selling compared to the closing price of last week's trading session.
Bao Tin Minh Chau listed the price of gold rings at 84.68-85.68 million VND/tael (buy - sell); an increase of 2.16 million VND/tael for buying and 2.26 million VND/tael for selling compared to the closing price of last week's trading session.
After a week of strong increases, if investors buy gold rings in the session of October 13 and sell them in today's session (October 20), the profit they will receive when buying at DOJI and Saigon Jewelry Company is VND1.25 million/tael and VND1.26 million/tael, respectively.
There is a big difference in the profit when buying SJC gold bars and plain gold rings due to two reasons. First, the price of plain gold rings last week increased significantly compared to SJC gold bars. The second reason comes from the difference in buying and selling of these two items.
While SJC gold bars are listed by businesses at a difference of 2 million VND/tael, the difference for plain gold rings is only about 1 million VND/tael.
It is understandable that when buying SJC gold bars at DOJI on October 13, investors need to wait for the gold price to increase by over VND2 million/tael to make a profit. Meanwhile, when buying gold rings here, the price only needs to increase by over VND900,000/tael for investors to start making a profit.
World gold price
As of 5:00 p.m., the world gold price listed on Kitco was at 2,721.9 USD/ounce, up 64.8 USD/ounce compared to the closing price of last week's trading session.
Gold Price Forecast
World gold prices increased sharply when the USD index decreased. Recorded at 5:00 p.m. on October 20, the US Dollar Index, which measures the fluctuations of the greenback against 6 major currencies, was at 103.310 points (down 0.33%).
This week, 16 analysts participated in the Kitco News gold survey. Fifteen of the 16 experts believe that gold prices will go higher. Only one investor is neutral on the short-term outlook for gold. No one predicts that the precious metal will fall in the near term.
Meanwhile, 159 votes were cast in Kitco’s online poll. The majority of Main Street investors expect gold prices to rise again. 115 traders predict gold prices will rise next week, while only 27 see the precious metal falling. The remaining 17 see prices moving sideways next week.
