SJC gold bar price
As of 6:05 p.m., the price of SJC gold bars was listed by DOJI Group and Bao Tin Minh Chau at 135.8-137.8 million VND/tael (buy in - sell out), down 200,000 VND/tael in both directions. The difference between buying and selling prices is at 2 million VND/tael.
Phu Quy Jewelry Group listed the price of SJC gold bars at 135.1-137.8 million VND/tael (buy in - sell out), down 200,000 VND/tael in both directions. The difference between buying and selling prices is at 2.7 million VND/tael.
9999 gold ring price
As of 6:05 p.m., DOJI Group and Phu Quy listed the price of gold rings at 132-135 million VND/tael (buy in - sell out), unchanged in both directions compared to a day ago. The difference between buying and selling is 3 million VND/tael.
Bao Tin Minh Chau listed the price of gold rings at 132.8-135.8 million VND/tael (buy - sell), unchanged in both directions compared to a day ago. The difference between buying and selling is 3 million VND/tael.
The buying-selling gap is pushed up too high, increasing the risk for individual investors. Personal investors, especially those with a "surfing" mentality, need to consider carefully before putting money down.
World gold price
The world gold price was listed at 6:05 p.m. at 3,863.4 USD/ounce, down 16.4 USD compared to a day ago.
Gold price forecast
Gold prices last week received support from expectations of continued interest rate cuts in the US and concerns about the economic impact of prolonged government closures.
The US government's closure, which has entered its third day, has delayed many important economic data, including the non-farm payrolls report due today.
Alternative data from public and private sources showed that the US labor market was almost stuck in September, with weak recruitment and unchanged unemployment.
These figures show that the US Federal Reserve should cut interest rates, and as we expect more rate cuts, this will continue to support gold prices in the coming months, said UBS analyst Giovanni Staunovo. Gold is likely to surpass the $4,000/ounce mark by the end of this year.
According to CME Group's FedWatch tool, investors are betting on a 97% chance of a 25 basis point cut in October and an 88% chance of another similar cut in December.
FED President Dallas - Ms. Lorie Logan - said that the decision to cut interest rates last month was a reasonable "insurance" against the risk of a sharp decline in the labor market, but emphasized that the FED needs to "be cautious".
Gold - often seen as a safe haven in times of political and financial uncertainty - benefits particularly in a low-interest-rate environment. Since the beginning of the year, this precious metal has increased by 47%.
Meanwhile, demand for physical gold in India increased last week despite record prices, while the Chinese market closed for the holidays.
Note: Gold price data is compared to a day earlier.
See more news related to gold prices HERE...
