Gold price update on the morning of October 10: Sudden decrease

SJC gold bar price

As of 6:00 a.m., the price of SJC gold bars was listed by DOJI Group and Bao Tin Minh Chau at 140.5-142.5 million VND/tael (buy in - sell out), unchanged 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 140-142.5 million VND/tael (buy in - sell out), unchanged. The difference between buying and selling prices is at 2.5 million VND/tael.

9999 gold ring price

As of 6:00 a.m., DOJI Group listed the price of gold rings at 136.8-139.8 million VND/tael (buy in - sell out), unchanged in both directions. The difference between buying and selling is 3 million VND/tael.

Bao Tin Minh Chau listed the price of gold rings at 138.2-141.2 million VND/tael (buy in - sell out), unchanged. The difference between buying and selling is 3 million VND/tael.

Phu Quy Gold and Stone Group listed the price of gold rings at 137.5-140.5 million VND/tael (buy in - sell out), unchanged. 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 0:50 at 3,957.2 USD/ounce, down shockingly by 95.7 USD.

Gold price forecast

Gold prices fell sharply due to profit-taking and sell-off activities of short-term investors in the futures market, after gold prices hit a record peak on Wednesday.

Analysts said that there is a high possibility of a strong profit-taking wave continuing to appear in the session on Friday, before entering the weekend holiday after the recent period of hot increase.

Geopolitical factors that have supported precious metal prices in recent times are temporarily cooling down. Israel and Hamas have reached an agreement to return all the hostages Hamas is holding in Gaza - a major step towards ending the two-year conflict.

The agreement was reached after many days of indirect negotiations at Sharm El-Sheikh resort (Egypt), with the intermediaries of the US, Egypt, Qatar and Türkiye.

Accordingly, Israel will release Palestinian prisoners, allow more aid into Gaza and gradually withdraw troops to the buffer zone near the border. This may be putting selling pressure on gold and silver.

Technically, buyers are still dominating the short term for December gold futures. The next target for buyers is to close above the solid resistance zone of 4,100 USD/ounce. Meanwhile, the sellers aim to push the price below the important support zone of 3,850 USD/ounce.

The first resistance level was at a record peak of 4,081 USD/ounce, followed by 4,100 USD. The closest support was in the $4,000/ounce area and deeper into Tuesday's bottom, $3,963.4/ounce.

Foreign factors are also at a disadvantage for the precious metals market: the USD index increased sharply, reaching a 9-week peak; crude oil prices fell to around 62 USD/barrel; the yield on the 10-year US government bond was around 4.13%.