The domestic gold price today, October 14, is being traded at the following level:
Opening this morning's trading session, the gold price at 9:00 a.m. was listed by SJC Hanoi at 41.50 million VND/tael (maintained for buying) and 41.79 million VND/tael (down 30,000 VND/tael for selling) compared to yesterday morning's session.
Doji Hanoi Jewelry was listed at 41.47 million VND/tael (up 70,000 VND for buying) and 41.80 million VND/tael (down 100,000 VND for selling) compared to the session yesterday morning.
Ho Chi Minh City SJC listed at 41.50 million VND/tael (maintained for buying) and 41.77 million VND/tael (down 30,000 VND for selling) compared to the morning session on October 13.
The world gold price today, October 14, immediately stood at 1.486.100 USD/oz (up 0.37 USD/oz for buying) and 1.486.510 USD/oz (maintaining the same for selling).
Converted at USD at Vietcombank, 1 USD = 23,260 VND, the world gold price is equivalent to 41.64 million VND/tael, 130,000 VND/tael lower than the SJC gold price.
Gold prices this week are considered by experts to be unlikely to recover after the US presidential administration Donald Trump temporarily postponed the tax from 25% to 30% on 250 billion USD of Chinese goods on October 15.
These optimistic signals have caused cash flow to start to leave gold. Stock markets in many countries have seen a period of increase, green covers all stock exchanges, investors have begun to withdraw from safe-haven assets.
According to the results of a Wall Street survey with the participation of 17 experts, 5 analysts (29%) predict gold prices will increase next week, 8 people (47%) believe gold will decrease in price and the remaining 4 people (24%) said the gold market will be stable.
However, some investors still have a positive view on the price of Quy metal. Analysts say the correction in gold prices opens up opportunities for a buying period when global instability shows no signs of stopping.
Sean Lusk, co-head of commercial risk insurance at Walsh, said that if US-China trade negotiations progress well, stock prices will increase higher and put pressure on gold, but if the scenario goes against the back, gold will recover.
Therefore, Mr. Lusk believes that investors in the gold market need to be patient and maintain a neutral mentality.
Sharing the same view, Adrian Day, Chairman and CEO of Adrian Day Asset Management, also said that the recent weakness of gold due to optimistic signals from the US-China trade deal and Brexit is an opportunity to start buying.
