SJC gold bar price
As of 9:00 a.m., the price of SJC gold bars listed by DOJI Group was at 82.5 - 84.5 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 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 82.5 - 84.5 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.
9999 gold ring price
This morning, the price of 9999 Hung Thinh Vuong round gold ring at DOJI was listed at 81.9-82.9 million VND/tael (buy - sell); down 500,000 VND/tael for both buying and selling compared to early yesterday morning.
The price of PNJ 9999 plain gold rings is listed by PNJ at 81.9-83.1 million VND/tael (buy - sell), down 400,000 VND/tael for buying and down 200,000 VND/tael for selling.
Bao Tin Minh Chau listed the price of plain round gold at 81.88-82.88 million VND/tael (buy - sell); down 500,000 VND/tael for both buying and selling.
World gold price
As of 9:17 a.m., the world gold price listed on Kitco was at 2,608.5 USD/ounce, down 10.7 USD/ounce compared to the beginning of the previous trading session.
Gold Price Forecast
World gold prices fell amid an upward trend in the USD index. Recorded at 9:20 a.m. on October 10, the US Dollar Index, which measures the greenback's fluctuations against six major currencies, was at 102.665 points.
According to Phillip Streible, market strategist at Blue Line Futures, the continued rise in the US Dollar Index and economic data more supportive of a 25 basis point cut are factors that have weighed on gold in recent days.
The market is now waiting for data to provide more certainty about the Federal Reserve’s next move. UBS analyst Giovanni Staunovo said that since last week’s payrolls data, the market has been discussing whether the world’s leading economy is in a soft landing scenario. Staunovo added that upcoming inflation data will partly answer that question.
This morning, gold prices continued to decline after the FED released the minutes of its September 17-18 meeting, noting that the rate of future decline will not be determined by the initial rate of decline (the FED just reduced interest rates by 0.5% last month).
Dallas Fed President Lorie Logan said she wanted smaller cuts ahead, given remaining inflation risks and significant uncertainties about the economic outlook.
According to the World Gold Council (WGC), central banks around the world have slowed their gold purchases in 2024 compared to 2023, but still maintained higher purchases than before 2022. This is partly due to the People's Bank of China stopping gold purchases since May until now...
The recent gold rally may be losing steam, but strong fundamentals will keep prices high in 2025 and beyond, said economist Diego Cacciapuoti at Oxford Economics.
"Speculators may be losing interest in bullion. In fact, as the bullish momentum fades, we see gold prices stabilizing above $2,500 an ounce," Cacciapuoti said.
Cacciapuoti believes that, once prices stabilize, the precious metal will recover and he maintains his strategic bullish view.
“Some of the biggest recent buyers, such as China, still have plenty of room to continue diversifying their reserves into gold. This is because China’s gold holdings are a small percentage of its reserve assets compared to other economies.”
See more news related to gold prices HERE...
