Gold price today October 13: Heavy loss after a week of buying

SJC gold bar price

At the end of the weekly trading session, DOJI Group listed the price of SJC gold at 82.5 - 84.5 million VND/tael (buy - sell).

Compared to the closing price of last week's trading session, gold price at DOJI increased by 500,000 VND/tael for both buying and selling.

The difference between buying and selling prices of SJC gold at DOJI Group is at 2 million VND/tael.

Meanwhile, Saigon Jewelry Company SJC listed the price of SJC gold at 82.5 - 84.5 VND/tael (buy - sell).

Compared to the closing price of last week's trading session, the gold price at Saigon Jewelry Company SJC increased by 500,000 VND/tael for both buying and selling.

The difference between buying and selling price of SJC gold at Saigon Jewelry Company is at 2 million VND/tael.

Last week, SJC gold price increased, however the high difference between buying and selling gold caused investors to suffer heavy losses.

If you buy gold at DOJI Group on October 6 at VND84 million/tael and sell it today (October 13), you will lose VND1.5 million/tael. Similarly, those who buy gold at Saigon Jewelry Company SJC will also lose VND1.5 million/tael.

Currently, the difference between the buying and selling price of gold is listed at around 2 million VND/tael. Experts say that this difference is very high, causing investors to face the risk of losing money when investing in the short term.

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 100,000 VND/tael for buying and an increase of 150,000 VND/tael for selling compared to the closing price of last week's trading session.

Saigon Jewelry Company listed the price of gold rings at 81.6 - 83 million VND/tael (buy - sell); an increase of 500,000 VND/tael for buying and 300,000 VND/tael for selling compared to the closing price of last week's trading session.

After a week of increase, if buying gold rings in the session of October 6 and selling in today's session (October 13), the loss that investors will receive when buying at DOJI and Saigon Jewelry Company is 1.05 million VND/tael and 1.7 million VND/tael, respectively.

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

At the close of the weekly trading session, the world gold price listed on Kitco was at 2,657.1 USD/ounce, up 3.3 USD/ounce compared to the close of the previous week's trading session.

Gold Price Forecast

World gold prices increased as the USD index decreased. Recorded at 6:00 a.m. on October 13, the US Dollar Index, which measures the greenback's fluctuations against six major currencies, was at 102.680 points (down 0.1%).

Gold prices have faced many obstacles this week. However, after many fluctuations, gold prices still maintain their position and show the ability to recover with a steady increase.

The latest Kitco News weekly gold survey shows that only a majority of industry experts expect prices to rise or trade sideways next week, while a majority of investors remain bullish but numbers are down.

Fifteen analysts took part in the Kitco News gold survey. Seven analysts said they expected prices to rise next week, while two predicted prices would fall. The remaining six analysts, or 40%, were neutral on gold’s near-term outlook.

Meanwhile, 157 votes were cast in Kitco's online poll. 88 traders predicted gold prices would rise next week. While 43 traders predicted the precious metal would fall. The remaining 26 traders predicted prices would trend sideways next week.