SJC gold bar price
As of 9:10 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 ring at DOJI was listed at 84-85 million VND/tael (buy - sell); an increase of 650,000 VND/tael for both buying and selling compared to early this morning.
Bao Tin Minh Chau listed the price of plain round gold at 83.98-84.98 million VND/tael (buy - sell), an increase of 650,000 VND/tael for both buying and selling.
The price of PNJ 9999 plain gold rings is listed by PNJ at 83.75-84.75 million VND/tael (buy - sell), an increase of 450,000 VND/tael in both directions.
World gold price
As of 9:10 a.m. on October 18, the world gold price listed on Kitco was at 2,706.3 USD/ounce, up 21.9 USD/ounce compared to the beginning of the previous trading session.
Gold Price Forecast
World gold prices increased amid a decrease in the USD index. Recorded at 9:10 a.m. on October 18, the US Dollar Index, which measures the greenback's fluctuations against six major currencies, was at 103.552 points (down 0.1%).
According to Kitco, gold prices broke the $2,700/ounce threshold after receiving news that the European Central Bank (ECB) cut interest rates across the board by 25 basis points, in line with economists' expectations.
The ECB said falling inflation pressures were creating conditions for easing monetary policy: “Inflation data suggest that the disinflation process is moving in the right direction.”
Looking ahead, analysts expect to see further easing from the ECB in the first half of 2025. “The fundamentals remain that the ECB will deliver another 25bp cut at its December meeting, followed by similar cuts in early 2025 until the deposit rate reaches neutrality around 2% in the summer,” Michael Brown, senior research strategist at Pepperstone, wrote in a note.
Gold prices are being supported by safe-haven demand amid concerns over escalating geopolitical tensions, while expectations are growing that the US Federal Reserve will continue to ease monetary policy after cutting interest rates by half a percentage point last month.
Apart from concerns over the situation in the Middle East, the US election has also created uncertainties, which continues to boost safe-haven demand for the yellow metal, said Nitesh Shah, a commodity strategist at WisdomTree.
Saxo Bank commodity strategist Ole Hansen said gold will continue to attract attention as in the LBMA poll released earlier this week, participants predicted gold prices would rise to nearly $3,000 an ounce next year.
Mr. Peter A. Grant - Vice President of Zaner Metals said that the FED's 25 basis point interest rate cut at next month's meeting is highly expected by investors.
This expert predicts that gold is being supported by many positive factors, the precious metal is likely to increase in the coming time, even being pushed to nearly 3,000 USD/ounce in the first quarter of 2025.
According to CME's FedWatch tool, after last week's positive jobs report, the market is expecting an 88.8% chance that the Fed will cut 25 basis points at its meeting on November 7 and an 11.2% chance that it will keep interest rates unchanged.
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