SJC gold bar price
As of 8:50 a.m., the price of SJC gold bars was listed by DOJI Group at 84 - 86 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 84 - 86 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.
PNJ listed the price of SJC 9999 gold bars at 84 - 86 million VND/tael (buy - sell).
Compared to the beginning of the previous trading session, gold prices at PNJ remained unchanged in both buying and selling directions.
The difference between buying and selling price of SJC gold at PNJ is at 2 million VND/tael.
9999 gold ring price
This morning, the price of 9999 Hung Thinh Vuong round gold rings at DOJI was listed at 83.35-84.35 million VND/tael (buy - sell); an increase of 400,000 VND/tael for buying and an increase of 500,000 VND/tael for selling compared to early yesterday morning.
Bao Tin Minh Chau listed the price of plain round gold at 83.33-84.33 million VND/tael (buy - sell), an increase of 400,000 VND/tael for buying and 500,000 VND/tael for selling.
The price of PNJ 9999 plain gold rings is listed by PNJ at 83.3-84.3 million VND/tael (buy - sell), an increase of 300,000 VND/tael in both directions.
World gold price
As of 9:05 a.m. on October 17, the world gold price listed on Kitco was at $2,684.4/ounce, up $20.6/ounce compared to the beginning of the previous trading session. Thus, today's gold price is less than $1 lower than the all-time high of $2,685/ounce on September 26.
Gold Price Forecast
World gold prices increased amid a decrease in the USD index. Recorded at 9:05 a.m. on October 17, the US Dollar Index, which measures the greenback's fluctuations against six major currencies, was at 103.290 points (down 0.1%).
According to Kitco - gold received support amid rising geopolitical tensions and buying activity as technical factors remained positive. In particular, geopolitical tensions in the Middle East and some regions of the world tend to escalate, still strongly supporting gold prices.
Gold prices also edged closer to record highs, supported in part by falling bond yields and growing expectations that major central banks will cut interest rates.
Accordingly, US Treasury bond yields fell to their lowest level in more than a week, making gold more attractive because this precious metal tends to increase strongly in a low interest rate environment.
Expectations for a 25 basis point interest rate cut by the Federal Reserve at its meeting next month are strengthening, said Peter A. Grant, vice president and senior metals strategist at Zaner Metals.
In addition, recent reports of weaker inflation in Europe and the UK have raised expectations that the European Central Bank (ECB) and the Bank of England (BoE) will ease monetary policy aggressively. Expectations of sharp rate cuts have pushed yields lower, which has boosted gold prices.
Grant optimistically predicts that gold is even likely to be pushed closer to the $3,000/ounce mark by the first quarter of 2025.
Currently, according to CME's FedWatch tool, traders are predicting a 96% chance of a further 25 basis point cut in US interest rates at the November policy meeting.
There's little data out of the US this week. However, there's a slew of data due out today, including retail sales and the weekly jobless claims report.
See more news related to gold prices HERE...
