SJC gold bar price
At the end of the week's trading session, DOJI Group listed the price of SJC gold at 84-86 million VND/tael (buy - sell).
Compared to the closing price of last week's trading session, gold price at DOJI increased by 1.5 million VND/tael for both buying and selling.
The difference between buying and selling price of SJC gold at DOJI Group is at 2 million VND/tael.
Meanwhile, Saigon Jewelry Company listed the price of SJC gold at 84-86 VND/tael (buy - sell).
Compared to the closing price of last week's trading session, the gold price at Saigon Jewelry Company SJC increased by 1.5 million VND/tael for both buying and selling.
The difference between buying and selling price of SJC gold at Saigon Jewelry Company is at 2 million VND/tael.
Last week, SJC gold price increased, however the high difference between buying and selling gold caused investors to suffer losses.
If you buy gold at DOJI Group on October 13 at VND84.5 million/tael and sell it today (October 20), you will lose VND500,000/tael. Similarly, those who buy gold at Saigon Jewelry Company SJC will also lose VND500,000/tael.
Currently, the difference between buying and selling gold prices is listed at around 2 million VND/tael. Experts say that this difference is very high, causing investors to face the risk of losing money when investing in the short term.
9999 gold ring price
This morning, the price of 9999 Hung Thinh Vuong round gold ring at DOJI was listed at 84.7-85.7 million VND/tael (buy - sell); an increase of 2.15 million VND/tael for buying and 2.25 million VND/tael for selling compared to the closing price of last week's trading session.
Bao Tin Minh Chau listed the price of gold rings at 84.68-85.68 million VND/tael (buy - sell); an increase of 2.16 million VND/tael for buying and 2.26 million VND/tael for selling compared to the closing price of last week's trading session.
After a week of strong increases, if investors buy gold rings in the session of October 13 and sell them in today's session (October 20), the profit they will receive when buying at DOJI and Saigon Jewelry Company is VND1.25 million/tael and VND1.26 million/tael, respectively.
In recent sessions, the price of gold rings has often fluctuated in the same direction as the world market. Investors can refer to the world market and expert opinions before making investment decisions.
World gold price
At the close of the weekly trading session, the world gold price listed on Kitco was at 2,721.9 USD/ounce, up 64.8 USD/ounce compared to the close of the previous week's trading session.
Gold Price Forecast
World gold prices increased as the USD index decreased. Recorded at 6:00 a.m. on October 20, the US Dollar Index, which measures the greenback's fluctuations against six major currencies, was at 103.310 points (down 0.33%).
This week, 16 analysts participated in the Kitco News gold survey. Fifteen of the 16 experts believe that gold prices will go higher. Only one investor is neutral on the short-term outlook for gold. No one predicts that the precious metal will fall in the near term.
Meanwhile, 159 votes were cast in Kitco’s online poll. The majority of Main Street investors expect gold prices to rise again. 115 traders predict gold prices will rise next week, while only 27 see the precious metal falling. The remaining 17 see prices moving sideways next week.
“I am bullish on gold next week,” said Colin Cieszynski, chief market strategist at SIA Wealth Management. “The current rally seems relentless despite the lack of significant events. The most important thing for gold is that it is driven by a general appreciation of all currencies, not just the U.S. dollar. This week, a spike was triggered by the European Central Bank (ECB) rate cut.”
Marc Chandler, CEO at Bannockburn Global Forex, said that overall gold prices are still on the rise.
“Gold has hit an all-time high. Tensions in the Middle East remain high and the upcoming BRICS summit highlights central bank demand for the precious metal,” said Marc Chandler.
See more news related to gold prices HERE...
