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...

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    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

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