Gold price update morning 4.10: Massive increase, more supporting factors

Khương Duy |

Gold price update morning 4.10: Gold tends to increase. Many factors are supporting the precious metal.

SJC gold bar price

As of 6:00 a.m. on October 4, 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.
SJC gold bar price early morning October 4. 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 4, the price of 9999 Hung Thinh Vuong round gold rings at DOJI was listed at 82.5-83.5 million VND/tael (buy - sell), an increase of 300,000 VND/tael for buying and an increase of 350,000 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 82.48-83.48 million VND/tael (buy - sell), an increase of 300,000 VND for buying and 340,000 VND/tael for selling compared to the close 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 0:30 on October 4, the world gold price listed on Kitco was at 2,659.6 USD/ounce, up 8.9 USD/ounce.

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

Gold Price Forecast

World gold prices recovered despite the increase in the USD index. Recorded at 0:30 on October 4, the US Dollar Index, which measures the fluctuations of the greenback against 6 major currencies, was at 101.665 points (up 0.23%).

Gold and silver prices rose sharply ahead of Friday morning's US jobs report, arguably the most important US economic data of the month, according to Kitco.

The key nonfarm payrolls figure is expected to rise to 150,000, much higher than the 142,000 jobs gain in August's report.

“It’s rare for gold to beat stocks, but this year the precious metal has done it handily,” a Barron’s article said today. It added that short-term traders were part of the reason gold prices were rising, adding that “hedge funds have been pouring in — collectively more bullish than at any time since at least the mid-1980s.”

Safe-haven demand, lower global interest rates, central bank buying and bullish technical charts have been key factors pushing gold prices higher over the past few months.

The key outside markets today saw the USD Index move higher. Nymex crude oil prices rose sharply and traded around $73.25/barrel. The benchmark 10-year US Treasury yield is falling and is currently around 3.8%.

See more news related to gold prices HERE...

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