The domestic gold price today, October 18, 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 41.48 million VND/tael (up 10,000 VND/tael for buying) and 41.77 million VND/tael (up 10,000 VND/tael for selling) compared to yesterday morning's session.
Doji Hanoi Jewelry was listed at 41.50 million VND/tael (up 20,000 VND for buying) and 41.70 million VND/tael (up 20,000 VND for selling) compared to the previous morning session.
Ho Chi Minh City SJC listed at 41.48 million VND/tael (up 10,000 VND/tael for buying) and 41.75 million VND/tael (up 10,000 VND for selling) compared to the morning session on October 17.
The world gold price today, October 18, immediately stood at 1.491.760 USD/oz (up 3.23 USD/oz for buying) and 1.492.370 USD/oz (up 3.46 USD/oz for selling).
Recently, President of the European Union Jean-Claude Juncker and British Prime Minister Vladimir Johnson announced an agreement via Twitter, which could impact gold prices.
The new bilateral agreement stipulates that Northern Ireland will remain in the customs area of the European Union, while the rest of the UK will withdraw from the EU. This means people will be required to check procedures when crossing Irish waters. Northern Ireland will maintain voting rights every four years.
However, the Northern Ireland Democratic Alliance said it still opposes the proposed deal. This has investors confused and uncertain whether the deal will be approved by the UK Parliament in the vote this Saturday.
Gold took a slight increase, the USD plummeted in the context of decreased production data due to the General Motors strike. This is expected to slow global growth amid persistent trade tensions.
The manufacturing index decreased by 0.5% last month. If motor vehicles and parts are not included, the total industrial production and production output will still decrease by 0.2%.
Experts say that although gold prices have broken many resistance levels in recent times, in the long term, slowing world economic growth and low interest rates have and will continue to support gold prices because this precious metal is considered a tool for asset preservation.
