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 price 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 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 82.3-83.3 million VND/tael (buy - sell); down 400,000 VND/tael for buying and down 300,000 VND/tael for selling compared to the close of the previous trading session.
Saigon Jewelry Company listed the price of gold rings at 81.8-83.1 million VND/tael (buy - sell); down 200,000 VND/tael compared to the previous trading session.
Bao Tin Minh Chau listed the price of plain round rings at 82.28-83.28 million VND/tael, down 400,000 VND/tael for buying and down 300,000 VND/tael for selling.
World gold price
As of 6:00 p.m., the world gold price listed on Kitco was at 2,621.6 USD/ounce, down 26.5 USD/ounce compared to the closing price of last week's trading session.
Gold Price Forecast
World gold prices fell amid an increase in the USD index. Recorded at 6:00 p.m. on October 9, the US Dollar Index, which measures the greenback's fluctuations against six major currencies, stood at 102.382 points (up 0.08%).
World gold prices fell sharply, hitting a three-week low after news that Hezbollah wanted to discuss a ceasefire with Israel.
A senior Hezbollah official said yesterday (October 8) he supported Lebanese authorities' efforts towards a ceasefire, but would continue fighting if Israel did not halt its campaign.
"We support the political efforts that Lebanese Parliament Speaker Nabih Berri is making towards a ceasefire," said Hezbollah deputy leader Naim Qassem in a televised speech.
This is the first time Hezbollah has not mentioned an end to the conflict in Gaza as a precondition for a halt to fighting on the Lebanon-Israel border. It is unclear whether this is a sign of a change in Hezbollah's stance. Market participants are taking the news as a sign of a de-escalation of tensions in the Middle East.
Not only gold, the news about Hezbollah has "submerged" the crude oil market - a commodity closely related to precious metals. Meanwhile, the USD and US Treasury bond yields increased, putting pressure on gold. In addition, US stock indexes are also increasing in price.
In addition, the much-anticipated economic briefing from China's National Development and Reform Committee on Tuesday "disappointed markets, with little new stimulus measures," according to brokerage SP Angel. That news prompted selling in Chinese stocks.
Christopher Watling, market strategist at Longview Economics, said rising US bond yields and a sudden surge in the DXY index of the US dollar have limited the upside momentum of gold.
“Gold has been pulling back over the past few days due to the change in the outlook for interest rates,” said David Meger, director of metals trading at High Ridge Futures, adding that bond yields have risen and the idea of further rate cuts has been quashed.
Markets have priced in a 50 basis point rate cut at the Federal Reserve's November meeting following last week's strong jobs report. Now, there's an 87% chance of a 25 basis point cut, according to CME's FedWatch tool.
See more news related to gold prices HERE...
