SJC gold bar price
As of 6:00 a.m. on October 2, the price of SJC gold bars listed by DOJI Group was at 82-84 million VND/tael (buy - sell).
Compared to the beginning of the previous trading session, gold price at DOJI increased by 500,000 VND/tael for both buying and selling.
The difference between buying and selling price of SJC gold at DOJI Group is at 2 million VND/tael.
Meanwhile, Bao Tin Minh Chau listed the price of SJC gold at 82 - 84 million VND/tael (buy - sell).
Compared to the beginning of the previous trading session, gold price at Bao Tin Minh Chau increased by 500,000 VND/tael for both buying and selling.
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 2, the price of 9999 Hung Thinh Vuong round gold rings at DOJI was listed at 81.9-82.9 million VND/tael (buy - sell), down 750,000 VND/tael for buying and down 450,000 VND/tael for selling.
Bao Tin Minh Chau also adjusted the price of plain round gold rings to increase to 81.88-82.88 million VND/tael (buy - sell), down 660,000 VND for buying and down 560,000 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 10:42 p.m. on October 1, the world gold price listed on Kitco was at 2,661.8 USD/ounce, a sharp increase of 31.4 USD/ounce.
Gold Price Forecast
World gold prices increased sharply despite the high USD index. Recorded at 22:43 on October 1, the US Dollar Index, which measures the greenback's fluctuations against 6 major currencies, was at 101.032 points (up 0.51%).
World gold prices reversed sharply when many investors decided to buy when prices dropped to low levels. Despite some declines, gold prices in the medium and long term are still considered to have many supporting factors.
According to Kitco, the US Institute for Supply Management (ISM) announced on Tuesday that its manufacturing purchasing managers index remained at 47.2 in September, the same as August. However, this was lower than expected, as the consensus forecast showed an increase to 47.5.
Henry Yoshida, a certified financial planner and co-founder of Rocket Dollar, predicts that "gold prices will likely continue to rise steadily."
He pointed to central bank buying and expectations of interest rate cuts by the US Federal Reserve as key drivers, with his optimistic forecast for gold prices to hit $2,800 an ounce in October.
While Yoshida looks to monetary policy, Will Rhind, CEO of investment firm GraniteShares, finds inspiration in historical trends. He notes that “gold prices have risen an average of 8.5% in the six months following a 50 basis point Fed rate cut,” citing data from 2020. This pattern drives his forecast of $2,700 an ounce by the end of October.
Marc Chandler - CEO of Bannockburn Global Forex, assessed that this week's US employment report is very important, if the market receives a not-so-good employment number, the gold price will continue to break out. On the contrary, a positive scenario will put pressure on gold and push the price lower.
According to CME's FedWatch tool, the market now estimates the probability of the Fed cutting interest rates by 0.25 percentage points in November at about 62%, up from 47% on September 27.
See more news related to gold prices HERE...
