SJC gold bar price
As of 6:00 a.m. on October 10, the price of SJC gold bars listed by DOJI Group was at 83-85 million VND/tael (buy - sell), unchanged in both directions compared to the beginning of the previous trading session.
The difference between buying and selling price of SJC gold at DOJI Group is at 2 million VND/tael.
Saigon Jewelry Company SJC 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 remained unchanged.
The difference between buying and selling price of SJC gold at Saigon Jewelry Company is at 2 million VND/tael.
Meanwhile, Bao Tin Minh Chau listed the price of SJC gold at 83 - 85 million VND/tael (buy - sell). Compared to the beginning of the previous trading session, the gold price at Bao Tin Minh Chau 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.
9999 gold ring price
As of 6:00 a.m. on October 10, the price of 9999 Hung Thinh Vuong round gold rings at DOJI was 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 beginning 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 beginning of 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.
PNJ listed the price of plain round gold rings 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.
In recent sessions, the price of gold rings has often fluctuated in the same direction as the world market. Investors can refer to the world market and expert opinions before making investment decisions.
World gold price
As of 9:07 p.m. on October 9, the world gold price listed on Kitco was at 2,608.8 USD/ounce, up 2.6 USD/ounce compared to the beginning of the previous trading session.
Gold Price Forecast
World gold prices fell sharply amid a sharp increase in the USD index. Recorded at 9:10 p.m. on October 9, the US Dollar Index, which measures the greenback's fluctuations against six major currencies, was at 102.507 points (up 0.2%).
The market fell as the possibility of the US Federal Reserve (FED) cutting interest rates aggressively became increasingly low. The market is waiting for the minutes of the latest FED policy meeting for more clues on future decisions. This is the fifth consecutive session of gold falling, causing the price to move further away from the peak of 2,685 USD set on September 26.
"Prices have been falling over the past few days, as the prospect of the Fed cutting interest rates aggressively is increasingly dim. US government bond yields have also increased, making gold less attractive," said David Meger, Director of Precious Metals Trading at High Ridge Futures.
According to the CME FedWatch interest rate tracker, the market has ruled out the possibility of the Fed cutting interest rates by another 50 basis points at the November meeting. The probability of a 25 basis point cut is currently 87%.
Traders are awaiting the latest U.S. inflation data this week, including the consumer price index on Thursday and the producer price index on Friday.
The US CPI for September is expected to have risen 2.3% year-on-year, compared with a 2.5% increase in the August report. Friday's PPI is expected to have risen 0.1% month-on-month, compared with a 0.2% increase in the August report.
Technically, December gold bulls have the strong overall near-term technical advantage. The bulls’ next upside price target is $2,800/oz. The bears’ next near-term downside price target is $2,600/oz.
Overseas markets today saw Nymex crude oil prices mostly steady, trading around $73.50 a barrel. The benchmark 10-year U.S. Treasury yield is currently at 4.016%.
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