SJC gold bar price
As of 6:00 a.m. on November 5, the price of SJC gold bars listed by DOJI Group was at 87-89 million VND/tael (buy - sell).
Compared to the beginning of the previous trading session, gold price at DOJI decreased by 500,000 VND/tael for both buying and selling.
The difference between buying and selling prices of SJC gold at DOJI Group is at 2 million VND/tael.
Saigon Jewelry Company SJC listed the price of SJC gold at 87-89 million VND/tael (buy - sell).
Compared to the beginning of the previous trading session, the gold price at Saigon Jewelry Company SJC decreased 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.
Bao Tin Minh Chau listed SJC gold price at 87-89 million VND/tael (buy - sell).
Compared to the beginning of the previous trading session, gold price at Bao Tin Minh Chau decreased by 500,000 VND/tael for both buying and selling.
The difference between buying and selling price of SJC gold at Bao Tin Minh Chau is at 2 million VND/tael.
Currently, the difference between buying and selling gold prices is listed at around 2 million VND/tael. Experts say that this difference is very high, causing investors to face the risk of losing money when investing in the short term.
9999 gold ring price
As of 6:00 a.m. on November 5, the price of 9999 Hung Thinh Vuong round gold rings at DOJI was listed at 87.6-88.8 million VND/tael (buy - sell), down 400,000 VND/tael for buying and down 200,000 VND/tael for selling compared to the beginning of the previous trading session.
Bao Tin Minh Chau listed the price of gold rings at 87.78-88.78 million VND/tael (buy - sell); down 200,000 VND/tael for both buying and 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. In the context of a sharp decline in world gold prices, domestic gold rings are facing the risk of falling as well.
World gold price
As of 1:20 a.m. on November 5, the world gold price listed on Kitco was at 2,738.2 USD/ounce, up 1.8 USD/ounce compared to the beginning of the trading session yesterday morning.
Gold Price Forecast
World gold prices recovered amid a decline in the USD index. Recorded at 1:20 a.m. on November 5, the US Dollar Index, which measures the greenback's fluctuations against six major currencies, was at 103.767 points (down 0.42%).
In a recent interview with Kitco News, Michele Schneider, chief market strategist at Marketgauge, said that the market is forming a technical bull run. She said that if resistance is broken, gold could easily return to $2,800 an ounce:
“A solid close above $2,760 an ounce would take gold back to $2,800 an ounce. Gold could then head towards $3,000 an ounce.”
“Markets remain concerned about geopolitical tensions, combined with uncertainty surrounding the outcome of the US presidential election - factors that support gold prices and reinforce the recovery of spot gold,” said analysts at China Construction Bank.
On the other hand, in the context of the ongoing de-dollarization trend, a number of central banks around the world are diversifying their foreign exchange reserves and gradually increasing their gold holdings.
“The US is imposing economic sanctions on nearly 100 countries, and the sanctions are escalating. This has prompted countries to increase their gold holdings,” said analyst Chen Weidong from the China Banking Research Institute.
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