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 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 82.5 - 84.5 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 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 82.55-83.45 million VND/tael (buy - sell); an increase of 550,000 VND/tael for both buying and selling compared to early yesterday morning.
Bao Tin Minh Chau listed the price of plain round gold at 82.52-83.42 million VND/tael (buy - sell); increased by 540,000 VND/tael for both buying and selling.
The price of PNJ 9999 plain gold ring is listed by PNJ at 82.3-83.3 million VND/tael (buy - sell).
World gold price
As of 9:15 a.m., the world gold price listed on Kitco was at 2,657.1 USD/ounce, up 21.5 USD/ounce compared to the beginning of the previous trading session.
Gold Price Forecast
World gold prices increased in the context of the USD index decreasing. Recorded at 9:15 a.m. on October 12, the US Dollar Index measuring the fluctuations of the greenback against 6 major currencies was at 102.720 points (down 0.05%).
Gold prices rose sharply as investors increased their purchases. The world's largest gold investment fund, SPDR, bought an additional 1.72 tons of gold, raising its holdings to 877.98 tons.
Hotter-than-expected consumer inflation data has dampened expectations that the Federal Reserve will cut interest rates by 0.5% next month. However, the fact that interest rates are still on a downward trend through 2025 is still a factor supporting gold prices in the coming period.
This week, 15 international analysts participated in the Kitco News gold survey. The results showed that 7 experts expected prices to rise next week, while 2 experts predicted that the precious metal would fall, and the remaining 6 analysts remained neutral on the near-term outlook for gold.
Meanwhile, 157 votes were cast in Kitco's online poll, with a growing majority of Main Street investors predicting further gains in gold.
Specifically, 88 retail traders predicted that gold prices will increase next week, while 43 traders, said that the yellow metal will trade lower, the remaining 26 traders predicted that prices will tend to move sideways next week.
Alex Ebkarian, CEO of Allegiance Gold, said that inflation is trending down and the labor market is weakening, making investors more certain that the US Federal Reserve (FED) will introduce a clearer monetary policy easing cycle. This will help gold prices tend to increase in the coming time.
The expert added that the rate of increase in gold prices in recent times has been slow. The factors of inflation and the labor market that have just been announced will certainly promote the rate of increase in gold prices faster.
Chantelle Schieven, head of research at Capitalight Research, said that the pace of interest rate cuts is expected to slow down, which could continue to put pressure on gold in the short term. However, he predicted that geopolitical uncertainty would continue to support the precious metal.
Swiss bank UBS predicts that macroeconomic factors such as global monetary easing policies are creating favorable conditions for gold purchases. Low interest rates reduce the cost of holding gold, encouraging investors to put more money into the precious metal.
See more news related to gold prices HERE...
