Update SJC gold price
As of 5:30 p.m., the price of SJC gold bars was listed by DOJI Group at 87 - 89 million VND/tael (buy - sell).
Compared to the close 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, Saigon Jewelry Company listed the price of SJC gold at 87 - 89 VND/tael (buy - sell).
Compared to the previous trading session, the gold price at Saigon Jewelry Company SJC remained unchanged in both buying and selling directions.
The difference between buying and selling price of SJC gold at Saigon Jewelry Company is at 2 million VND/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 5:25 p.m. today, the price of 9999 Hung Thinh Vuong round gold rings at DOJI is listed at 88 - 89 million VND/tael (buy - sell); an increase of 1.2 million VND/tael for both buying and selling compared to the close of the previous trading session.
Bao Tin Minh Chau listed the price of gold rings at 87.48 - 88.98 million VND/tael (buy - sell); an increase of 1.2 million VND/tael for both buying and selling compared to the close of the previous trading session.
World gold price
As of 5:23 p.m., the world gold price listed on Kitco was at 2,751.7 USD/ounce, up 17.9 USD/ounce compared to the close of the previous trading session.
Gold Price Forecast
World gold prices increased sharply despite the high USD index. Recorded at 5:25 p.m. on October 23, the US Dollar Index, which measures the greenback's fluctuations against six major currencies, was at 104.205 points (up 0.28%).
Global economic uncertainty is contributing to safe-haven demand, pushing up gold prices. The IMF warns that the risk of a recession is increasing.
In its latest economic forecast, the International Monetary Fund (IMF) said it expects the global economy to grow by 3.2% in 2025. This expectation remains unchanged from 2024.
Analysts described global economic activity next year as “steady but unimpressive.” They also noted that while the economy could have a soft landing as central banks keep inflation under control, the world still faces a growing number of threats:
“The balance of risks is tilted to the downside as geopolitical tensions could flare up; problems in China’s real estate sector could impact global trade, as well as rising protectionism and continued geo-economic fragmentation.
In addition, disruptions to the disinflationary process could deter central banks from easing monetary policy, posing additional challenges to fiscal policy and financial stability. Amid multiple threats, it is time for a policy shift... " - IMF said.
Even as central bank buying appears to be easing, the news surrounding the upcoming U.S. election could amplify safe-haven demand for the precious metal, according to Daniel Ghali, senior commodity strategist at TD Securities.
This expert commented that some dynamics in the gold market are changing, but there is still a lot of room for gold prices to increase. Geopolitical instability will support gold prices to rise to record levels.
“In the medium term, there is a significant inflow into gold. According to our analysis, some investors are holding a very large amount of gold compared to history. I think the gold market is telling us that there is a lot of anxiety around the upcoming US election season,” Ghali said.
