Update SJC gold price
As of 6:00 p.m., DOJI Group listed SJC gold bar price at 83-85 million VND/tael (buy - sell), an increase of 1 million VND/tael compared to the previous trading session.
The difference between buying and selling prices of SJC gold at DOJI Group is at 2 million VND/tael.
Meanwhile, Saigon Jewelry Company listed the price of SJC gold at 83-85 million VND/tael (buy - sell).
Compared to the closing price of the previous trading session, the gold price at Saigon Jewelry Company SJC increased by 1 million VND/tael. The difference between the buying and selling price of SJC gold at Saigon Jewelry Company SJC is at 2 million VND/tael.
Price of round gold ring 9999
As of 6:00 p.m. today, the price of 9999 Hung Thinh Vuong round gold rings at DOJI is listed at 82.70-83.60 million VND/tael (buy - sell); down 50,000 VND/tael for buying and unchanged for selling compared to the close of the previous trading session.
Saigon Jewelry Company listed the price of gold rings at 82-83.3 million VND/tael (buy - sell); unchanged from the previous trading session.
Bao Tin Minh Chau listed the price of plain round rings at 82.68-83.58 million VND/tael.
According to Lao Dong reporters today (October 8), although the price of plain round gold rings remains high, many people continue to choose to go to gold shops to buy. However, buying gold rings at this time is still difficult, many shops continue to limit the quantity and time of purchase on a daily basis.
World gold price
As of 6:10 p.m., the world gold price listed on Kitco was at 2,648.1 USD/ounce, down 9 USD/ounce compared to the closing price of last week's trading session.
Gold Price Forecast
World gold prices fell despite the USD index still showing a downward trend. Recorded at 6:10 p.m. on October 8, the US Dollar Index, which measures the greenback's fluctuations against six major currencies, was at 102.190 points (down 0.12%).
Investors are concerned as the People’s Bank of China (PBoC) did not add gold to its reserves in September, extending its streak of no purchases for the fifth month in a row. The PBoC had been buying gold monthly for 18 straight months until it first stopped buying in May.
WisdomTree commodity strategist Nitesh Shah told Reuters he believes the central bank wants to hold more gold but is waiting for “a more attractive entry point.”
According to some experts, the gold market may still have room to rise in the coming time. However, the precious metal is "running out of buyers", which means the risk of a price decline is increasing.
Carley Garner, co-founder of brokerage firm DeCarley Trading, has been bullish on gold for some time, but she added that with prices now above $2,600 an ounce, it’s time to look at the other side of the trade.
“I see gold facing some significant resistance, it’s hard to be bullish at these levels,” she said in an interview with Kitco News. Those comments came as gold prices consolidated above $2,650 an ounce.
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