Gold price update on the morning of October 19: Experts lower expectations, divide opinions

SJC gold bar price

As of 6:00 a.m., the price of SJC gold bars was listed by DOJI Group at 149.5-151 million VND/tael (buy in - sell out). The difference between buying and selling prices is at 1.5 million VND/tael.

The price of SJC gold bars was listed by Bao Tin Minh Chau at 150.5-151 million VND/tael (buy in - sell out). The difference between buying and selling prices is at 500,000 VND/tael.

Phu Quy Jewelry Group listed the price of SJC gold bars at 149-151 million VND/tael (buy in - sell out). The difference between buying and selling prices is at 2 million VND/tael.

9999 gold ring price

As of 6:00 a.m., DOJI Group listed the price of gold rings at 149.5-150.9 million VND/tael (buy in - sell out). The difference between buying and selling is 1.4 million VND/tael.

Bao Tin Minh Chau listed the price of gold rings at 155.5-158.5 million VND/tael (buy in - sell out). The difference between buying and selling is 3 million VND/tael.

Phu Quy Gold and Stone Group listed the price of gold rings at 148-151 million VND/tael (buy in - sell out). 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

Recorded at 6:00 (Vietnam time), the world spot gold price was listed at 4,250.8 USD/ounce.

Gold price forecast

This week, Wall Street analysts have somewhat reduced their expectations of price increases for gold. Of these, 9 people (equivalent to 60%) predict gold prices will increase next week, 4 people (27%) think prices will decrease, and the remaining 2 people (13%) predict gold prices will go sideways.

Meanwhile, an online survey by an international financial information platform attracting 265 participants reflects the optimistic sentiment of individual investors that remains stable despite strong fluctuations in gold prices.

180 traders (68%) expect gold prices to continue to rise next week, 48 (18%) predict prices will fall, and 37 (14%) expect prices to remain flat.

Mr. Adam Button - Head of currency strategy at Forexlive.com, said that gold prices may decrease: "I hope to see a correction around $4,000/ounce. This rally has been going on for too long, and a real correction will help the market build a more solid foundation for the $5,000/ounce mark.

Meanwhile, Mr. Colin Cieszynski - Director of Market Strategy at SIA Wealth Management, said: I am neutral on gold next week. Gold prices have had an impressive increase and may be ready for a break. The correction in silver and platinum prices today shows that the precious metal group's rally may be slowing."

Mr. Rich Checkan - Chairman and CEO of Asset Strategies International, predicted that gold prices will increase. Actually, I was happy when the market adjusted a bit on Friday morning, but the general trend was still clear to go up. A weak US dollar, an expected rate cut, and a chaotic US government situation all of which support the upward trend in gold prices.