Gold price update morning 10.11: Continued decline, gloomy outlook

Khương Duy |

Gold price update morning 10.11: Continued downward trend. Experts forecast negative.

SJC gold bar price

As of 6:00 a.m. on November 10, the price of SJC gold bars listed by DOJI Group was at 82-85.8 million VND/tael (buy - sell).

Compared to the beginning of the previous trading session, the gold price at DOJI remained the same for buying and decreased by VND200,000/tael for selling. The difference between the buying and selling price of SJC gold at DOJI Group is at VND3.8 million/tael.

Gia vang mieng SJC dau gio sang 10.11. Don vi: Trieu dong/luong
Price of SJC gold bars early morning 11/10. Unit: Million VND/tael
Dien bien gia vang mieng SJC nhung phien gan day. Bieu do: Khuong Duy
Price movements of SJC gold bars in recent sessions. Chart: Linh Trang

Saigon Jewelry Company SJC listed the price of SJC gold at 82-85.8 million VND/tael (buy - sell).

Compared to the beginning of the previous trading session, the gold price at Saigon Jewelry Company SJC remained unchanged for buying and decreased by VND200,000/tael for selling. The difference between the buying and selling price of SJC gold at Saigon Jewelry Company SJC was at VND3.8 million/tael.

Bao Tin Minh Chau listed SJC gold price at 82.3-85.8 million VND/tael (buy - sell).

Compared to the beginning of the previous trading session, the gold price at Bao Tin Minh Chau remained the same for buying and decreased by 200,000 VND/tael for selling.

Currently, the difference between the buying and selling price of gold is listed at around 4 million VND/tael. Experts say that this difference is very high, causing investors to face the risk of losing money when investing in the short term.

9999 gold ring price

As of 6:00 a.m. on November 10, the price of 9999 Hung Thinh Vuong round gold rings at DOJI was listed at 83.35-85.15 million VND/tael (buy - sell), unchanged in both selling directions compared to the beginning of the previous trading session.

Dien bien gia vang nhan nhung thang gan day. Bieu do: Khuong Duy
Gold ring price developments in recent months. Chart: Linh Trang

Bao Tin Minh Chau listed the price of gold rings at 83.32-85.12 million VND/tael (buy - sell); unchanged in both directions.

In recent sessions, the price of gold rings has often fluctuated in the same direction as the world market. Domestic investors can refer to the world gold price before investing or taking profits.

World gold price

As of 6:00 a.m. on November 10 (Vietnam time), the world gold price listed on Kitco recovered to 2,684.4 USD/ounce, down 3.2 USD/ounce compared to the beginning of the previous trading session.

Dien bien gia vang the gioi. Nguon: Kitco
World gold price developments. Source: Kitco

Gold Price Forecast

World gold prices fell amid an increase in the USD index. Recorded at 6:00 a.m. on November 10, the US Dollar Index, which measures the greenback's fluctuations against six major currencies, was at 104.890 points (up 0.5%).

The latest weekly Kitco News gold survey shows that industry professionals are overwhelmingly bearish, while retail traders are also down for the first time in months.

Fourteen analysts took part in the Kitco News gold survey. Only three analysts see gold prices rising next week. Nine see prices falling. The remaining two see prices moving sideways.

There were 249 votes cast in Kitco’s online poll. 114 traders said gold prices will rise next week. Another 91 said gold prices will fall. The remaining 44 investors expect gold to trend sideways in the near term. This is the first time in months that short-term gold prices have fallen this far.

The economic calendar for the week ahead is fairly bleak, especially compared to last week’s boom. The key economic news event to watch will be the US core CPI on Wednesday. The Federal Reserve is expected to be watching the CPI closely for signs that consumer inflation is continuing its path toward 2%.

Thursday's US PPI report, weekly jobless claims data and Friday morning's US retail sales release for October will also provide concrete data on Americans' purchasing power in the current high-cost environment.

See more news related to gold prices HERE...

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