SJC gold bar price
As of 6:00 a.m. on October 8, 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.
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 8, the price of 9999 Hung Thinh Vuong round gold rings at DOJI was listed at 82.75-83.60 million VND/tael (buy - sell), down 100,000 VND/tael for buying and unchanged for selling.
Saigon Jewelry Company listed the price of gold rings at 82-83.3 million VND/tael (buy - sell); unchanged from the beginning of the previous trading session.
PNJ listed the price of plain round gold rings at 82.70-83.60 million VND/tael (buy - sell), down 100,000 VND/tael for buying and unchanged for selling.
Bao Tin Minh Chau also adjusted the price of plain round gold rings down to 82.68-83.58 million VND/tael.
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 11:30 p.m. on October 7, the world gold price listed on Kitco was at 2,643.9 USD/ounce, down 9.9 USD/ounce compared to the beginning of the previous trading session.
Gold Price Forecast
World gold prices fell in the context of the USD index not having much change. Recorded at 23:30 on October 7, the US Dollar Index measuring the fluctuations of the greenback against 6 major currencies was at 102.227 points (down 0.06%).
The price of an ounce of gold has increased 45.93% over the past year, with an increase of 6.58% over the past 30 days, according to GoldPrice.org.
Experts say the spike in gold prices could be due to a number of factors; including the new interest rate cut by the US Federal Reserve (FED), new appeal to investors and the war in the Middle East, as gold is considered a safe investment, especially during times of geopolitical conflict.
Michael Martin, Vice President of Market Strategy at TradingBlock, said it is not surprising that gold prices have surged during times of great geopolitical uncertainty.
Matthew Jones, a precious metals analyst at Solomon Global, predicts that gold prices could reach $3,000 if Israel retaliates against Iran.
In addition to the ongoing war in the Middle East, world gold prices are rising as new investors and central banks in Asia increase their gold purchases.
The People's Bank of China (PBOC) has been buying gold for 18 consecutive months and its gold reserves increased to $182.98 billion at the end of August, up from $176.64 billion at the end of July, Reuters reported.
Luciano Duque, investment director at C3 Bullion, believes that the trend of central banks buying gold will not stop soon and will drag many other investors along.
See more news related to gold prices HERE...
