Gold price update morning 10/3: Massive profit taking, sharp decline

    Khương Duy |

    Gold price update on the morning of October 3: The world gold market once again reversed due to a wave of profit-taking.

    SJC gold bar price

    As of 6:00 a.m. on October 3, 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 prices at DOJI remained unchanged in both buying and selling directions.

    The difference between buying and selling prices of SJC gold at DOJI Group is at 2 million VND/tael.

    Gia vang mieng SJC dau gio sang 2.10. Don vi: Trieu dong/luong.
    Price of SJC gold bars early morning 3.10. 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: Khuong Duy

    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 prices 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 3, the price of 9999 Hung Thinh Vuong round gold rings at DOJI was listed at 82.20 - 83.15 million VND/tael (buy - sell), an increase of 300,000 VND/tael for buying and an increase of 250,000 VND/tael for selling compared to the beginning of the previous trading session.

    Dien bien gia vang nhan tron tron 2 thang gan day. Bieu do: Khuong Duy
    Price movements of plain round gold rings in the last 2 months. Chart: Khuong Duy

    Bao Tin Minh Chau also adjusted the price of plain round gold rings to increase to 82.18 - 83.14 million VND/tael (buy - sell), an increase of 300,000 VND for buying and an increase of 260,000 VND/tael for selling compared to the beginning of the previous trading session.

    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 0:50 on October 3, the world gold price listed on Kitco was at 2,650.7 USD/ounce, down 11.1 USD/ounce.

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

    Gold Price Forecast

    World gold prices fell sharply amid a decline in the USD index. Recorded at 0:50 on October 3, the US Dollar Index, which measures the greenback's fluctuations against six major currencies, was at 101.312 points (up 0.38%).

    According to Kitco, the world gold price fell last night due to profit-taking and liquidation activities. However, Kitco senior analyst - Mr. Jim Wyckoff - said that the bulls may soon buy.

    Faced with the strength of the USD, December gold fell 18.2 USD to 2,672.30 USD/ounce.

    The Bank of England has just released a study saying that its survey of banks shows that the majority see geopolitics as the top risk, which could cause a "sharp correction" in the stock market and other markets.

    The major outside markets today see Nymex crude oil prices slightly higher, trading around $70/barrel. The yield on the 10-year US Treasury note is falling, currently around 3.75%.

    Technically, speculators see a strong near-term advantage for December gold. The upside price target for speculators is to produce a close above $2,800 an ounce.

    See more news related to gold prices HERE...

    Khương Duy
    RELATED NEWS
    Strong cold air is forecast to affect the North, causing deep cold from tonight, November 17. Photo: Huu Chanh

    Tonight, the strongest cold spell since the beginning of winter begins, lowest temperature forecast for the next 2 days

    |

    From tonight, November 17, the Northern and North Central Delta regions will turn cold, the mountainous and midland areas of the North will be very cold, and the high mountains will have places with severe cold below 7 degrees Celsius.

    Gold prices have increased, people are lining up to wait for gold ring trading to increase day by day. Photo: Ha Linh

    Gold price increases, people sit waiting for 2 floors to "hunt" for gold rings

    |

    Gold prices increased, the number of people lining up to trade increased day by day, stores still limited the number of sales.

    Mr. Hoang Dang Quang - Member of the Party Central Committee, Deputy Head of the Central Organizing Committee presented the Politburo's decision on the transfer and appointment of Mr. Le Hong Vinh to hold the position of Deputy Secretary of the Quang Tri Provincial Party Committee. Photo: Cong Sang

    Chairman of Nghe An Provincial People's Committee introduced to elect Chairman of Quang Tri Provincial People's Committee

    |

    The Secretariat decided to transfer and appoint Mr. Le Hong Vinh - Deputy Secretary of the Provincial Party Committee, Chairman of the People's Committee of Nghe An province to hold the position of Deputy Secretary of the Quang Tri Provincial Party Committee and introduce him to be elected Chairman of the Provincial People's Committee.

    Chairman of Ca Mau Provincial People's Committee Lu Quang Ngoi delivered the inauguration speech. Photo: Nhat Ho

    Mr. Lu Quang Ngoi was elected Chairman of the People's Committee of Ca Mau province

    |

    Ca Mau - Mr. Lu Quang Ngoi - Chairman of Vinh Long Provincial People's Committee - was elected Chairman of Ca Mau Provincial People's Committee.

    Proactively cut off electricity to tens of thousands of households and customers in the Central region because floods have reappeared. Photo: Pham Thach

    Central region floods again, cutting off electricity to 31,000 households and customers to ensure safety

    |

    The Central Power Corporation (EVNCPC) has proactively cut off electricity to nearly 31,000 households to ensure the safety of people and electrical equipment in flooded areas.

    The liquidity of the stock market is very weak. Photo: Le Toan

    Securities waiting for new cash flow

    |

    The stock market is in dire need of a strong increase with improved liquidity and spreading to many industry groups.

    The scene of the landslide that buried a passenger bus on Khanh Le Pass, killing 6 people. Photo: Thanh Thuy

    Scene of a 40-seat passenger bus buried in rocks and soil at Khanh Le Pass, killing 6 people

    |

    Khanh Hoa - As of 7:00 a.m. on November 17, the authorities were still handling the scene of a passenger bus crash on Khanh Le Pass, killing 6 people.

    Scene of the negotiation round between the Russian and Ukrainian delegations at Belovezhskaya Pushcha in 2022. Photo: Xinhua

    Difficulty in achieving a Russia-Ukraine ceasefire this year

    |

    The Finnish president's statement on Russia-Ukraine peace progress shows that the prospect of a ceasefire is still far away.

    Update on the closing price of gold on October 2: Gold rings increased dramatically

    Khương Duy |

    Updated gold price at the end of session 10/2: 9999 round smooth gold rings increased, while SJC gold bars continued to move sideways.

    Trong khi vàng miếng SJC bất động, giá vàng nhẫn tròn trơn 9999 tăng mạnh trong phiên giao dịch chiều nay 2.10. Ảnh: Phan Anh

    Gold ring price reverses, increases sharply

    Khương Duy |

    As predicted, the price of 9999 round smooth gold rings this afternoon reversed and increased following the world market.

    Money flows in, gold price increases, expected to break the peak

    Khương Duy |

    According to Kitco - Goldman Sachs has just announced that it has increased its gold price forecast by $200, from $2,700/ounce to $2,900/ounce by early 2025.