SJC gold bar price
As of 6:00 a.m. on October 6, 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 price of SJC gold at DOJI Group is at 2 million VND/tael.
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 6, the price of 9999 Hung Thinh Vuong round gold rings at DOJI was listed at 82.85-83.60 million VND/tael (buy - sell), unchanged.
PNJ also adjusted the price of plain round gold rings to increase to 82.80-83.60 million VND/tael (buy - sell).
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 6:00 a.m. on October 6, the world gold price listed on Kitco was at 2,653.8 USD/ounce, up 3.5 USD/ounce.
Gold Price Forecast
World gold prices fell sharply amid a sharp increase in the USD index. Recorded at 6:00 a.m. on October 6, the US Dollar Index, which measures the greenback's fluctuations against six major currencies, was at 102.280 points (up 0.52%).
Gold prices surged to a record high last week amid escalating tensions in the Middle East. The market calmed down on Friday afternoon as it faced a wave of selling after a stronger US jobs report was released.
Gold prices struggled as the US economy added 254,000 jobs in September. The strong growth in the US labor market is creating fresh selling pressure on gold, causing prices to fall rapidly. According to the US Bureau of Labor Statistics, US non-farm payrolls increased by 254,000 last month. The monthly figure far exceeded the consensus estimate of 147,000.
The latest Kitco News weekly gold survey shows that industry experts are increasingly cautious about gold’s near-term prospects, while investors remain bullish, albeit at a slightly lower level than last week.
This week, 16 analysts participated in the Kitco News gold survey. Only a handful of experts see gold prices rising in the near future. Seven experts see gold prices rising next week. Three experts predict the precious metal will fall. The remaining six analysts believe that gold will trade sideways next week.
Meanwhile, 176 votes were cast in Kitco’s online poll. The majority of investors still expect gold to rise. 104 traders expect gold prices to rise next week, while 36 predict the precious metal will trade lower. Only 38 believe gold prices will remain stable next week.
“Gold is rallying for one reason only, the risk of events over the weekend in the Middle East,” said Ole Hansen, head of commodity strategy at Saxo Bank.
Israel's war in the Middle East continues to escalate as its military launches airstrikes against Hamas in Gaza and Hezbollah in Lebanon. There are concerns that Iran could move further into the conflict. Many are now asking how Israel will retaliate against Iran.
With a relatively light economic calendar next week, Lukman Otunuga, chief market analyst, said gold will be caught between solid economic data and turmoil in the Middle East.
“Looking at the technical picture, gold is supported at $2,630/oz and resistance at $2,675/oz. A breakout could be imminent, with events in the coming week acting as catalysts. These include ongoing geopolitical tensions, important US data including CPI and speeches by several Fed officials,” he said.
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