SJC gold bar price
As of 9:05 a.m., the price of SJC gold bars was listed by DOJI Group at 83-85 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 83 - 85 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 82.95-83.85 million VND/tael (buy - sell); an increase of 400,000 VND/tael for both buying and selling compared to early this morning.
Bao Tin Minh Chau listed the price of plain round gold at 82.93-83.83 million VND/tael (buy - sell); increased 410,000 VND/tael for both buying and selling.
The price of PNJ 9999 plain gold rings is listed by PNJ at 82.6-83.6 million VND/tael (buy - sell), an increase of 300,000 VND/tael in both directions.
World gold price
As of 9:10 a.m. on October 15, the world gold price listed on Kitco was at 2,649 USD/ounce, down 22 USD/ounce compared to the beginning of the previous trading session.
Gold Price Forecast
World gold prices fell amid an increase in the USD index. Recorded at 9:10 a.m. on October 15, the US Dollar Index, which measures the greenback's fluctuations against six major currencies, was at 102.997 points.
Gold prices fell partly due to US consumer inflation expectations hitting a 40-year high, putting pressure on the US Federal Reserve's interest rate plans.
“US consumers’ inflation expectations for the next five to 10 years jumped to 7.1% in October, the highest level in more than 40 years, according to the University of Michigan consumer survey, which has doubled in just a few months,” noted analysts at The Kobeissi Letter.
Investors are also taking profits after strong US economic reports such as CPI and USD, said James Stanley, senior market strategist at Forex. The selling by investors may not be over yet. Gold is testing resistance levels.
Florian Grummes, CEO of Midas Touch Consulting, said the outlook for gold remains bullish. “The pullback is over. On the other hand, a multi-week consolidation could take prices to the bottom of the $2,585-$2,550/oz range. Looking at the daily chart, I see that sellers have taken control over the past week.
With the strong momentum in recent weeks and months, new buyers are quickly entering the market even when there is a pullback.”
Economic events this week that could impact gold prices include US retail sales data and the European Central Bank's monetary policy decision on Thursday.
Markets also focused on the Empire State manufacturing survey, weekly jobless claims, housing starts and US building permits.
Traders and investors are also keeping an eye on the Chinese market, which is expected to announce a $283 billion government bond-based economic stimulus package.
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