Gold price update on the morning of October 6: Bright prospects

SJC gold bar price

As of 6:00 a.m., the price of SJC gold bars was listed by DOJI Group and Bao Tin Minh Chau at 136.6-138.6 million VND/tael. The difference between buying and selling prices is at 2 million VND/tael.

Phu Quy Gold and Stone Group listed the price of SJC gold bars at 136-138.8 million VND/tael (buy in - sell out). The difference between buying and selling prices is at 2.8 million VND/tael.

9999 gold ring price

As of 6:00 a.m., DOJI Group listed the price of gold rings at 132.6-135.6 million VND/tael (buy in - sell out). The difference between buying and selling is 3 million VND/tael.

Bao Tin Minh Chau listed the price of gold rings at 133.6-136.6 million VND/tael (buy in - sell out). The difference between buying and selling is 3 million VND/tael.

Phu Quy Gold and Stone Group listed the price of gold rings at 132.5-135.5 million VND/tael (buy in - sell out). The difference between buying and selling is 3 million VND/tael.

The buying-selling gap is pushed up too high, increasing the risk for individual investors. Personal investors, especially those with a "surfing" mentality, need to consider carefully before putting money down.

World gold price

The world gold price was listed at 6:00 a.m. at 3,885 USD/ounce.

Gold price forecast

A survey with Wall Street experts shows that bullish views still majority after a week of strong gold trading. Small investors are also gradually catching up with this positive sentiment, with expectations that gold prices will continue to increase this week.

Of the 12 analysts participating in the survey, 11 people (equivalent to 92%) predict gold prices will increase this week. No expert predicts a price drop. The remaining 1 person (8%) believes that gold prices will move sideways.

In general, spot gold prices have increased by more than 48% since the beginning of the year, marking the strongest annual increase since 1979.

The persistent increase in gold prices in recent times reflects investors' growing confidence that the precious metal is entering a new growth cycle, driven by many simultaneous factors.

One of the key drivers is the weakening of the US dollar. In the context of the US budget deficit continuing to widen and fiscal risks increasing, the greenback is gradually losing its appeal.

Along with that, expectations that the US Federal Reserve (FED) will cut interest rates twice more in the remainder of the year will reduce the cost of holding gold, boosting cash flow into precious metals.

Along with monetary factors, political and geopolitical instability continue to push gold higher. Tensions in Ukraine, the Middle East and Europe have not shown any signs of cooling down, while the US has fallen into a deadlock as the US Congress cannot pass the budget, causing the federal government to shut down in early October.

According to experts, each week of closures could cost the US economy between $7 billion and $15 billion, while increasing concerns and demand for "safe havens" such as gold.

The demand for gold does not only come from individual investors. According to the World Gold Council (WGC), global central banks net bought an additional 15 tonnes of gold in August.

In the financial market, the increase in gold ETFs also shows a clear shift in capital flow. SPDR Gold Shares (GLD) - the world's largest gold ETF - increased its gold holdings to 35.2 tons in September, with a record of 18.9 tons in just one day on September 19, the highest ever.

JPMorgan said that this is a sign that the gold rally has entered a new phase as retail investors join in.

Analysts from Deutsche Bank and Goldman Sachs predict that if the FED does indeed cut interest rates in the coming months, gold prices could surpass the threshold of 4,000 USD/ounce in the first quarter of 2026. However, risks remain if the Fed delays interest rate cuts or the US economy continues to show strength, weakening demand for holding non-yielding assets such as gold.