SJC gold bar price
As of 9:00 a.m., the price of SJC gold bars was listed by DOJI Group at 87 - 89 million VND/tael (buy - sell).
Compared to the beginning of the previous trading session, gold price at DOJI increased by 1 million VND/tael for both buying and selling.
The difference between buying and selling prices of SJC gold at DOJI Group is at 2 million VND/tael.
Meanwhile, Bao Tin Minh Chau listed the price of SJC gold at 87-89 million VND/tael (buy - sell).
Compared to the beginning of the previous trading session, gold price at Bao Tin Minh Chau increased by 1 million VND/tael for both buying and selling.
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 87 - 89 million VND/tael (buy - sell).
Compared to the beginning of the previous trading session, gold price at PNJ increased by 1 million VND/tael for both buying and selling.
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 86.1-87.1 million VND/tael (buy - sell); an increase of 1.4 million VND/tael for both buying and selling compared to the beginning of yesterday's session.
Bao Tin Minh Chau listed the price of plain round gold at 86.08-87.08 million VND/tael (buy - sell); increased by 1.4 million VND/tael for both buying and selling.
The price of PNJ 9999 plain gold rings is listed by PNJ at 85.8-86.75 million VND/tael (buy - sell), an increase of 1.1 million VND for buying and an increase of 1.05 million VND/tael for selling.
World gold price
As of 9:20 a.m. on October 21, the world gold price listed on Kitco was at 2,729.8 USD/ounce, up 3.1 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 9:20 a.m. on October 21, the US Dollar Index, which measures the greenback's fluctuations against six major currencies, was at 103.749 points (down 0.08%).
Bullion, seen as a hedge against political and economic uncertainty, has surged more than 31% over the past year, breaking several records. The Federal Reserve’s rate cuts combined with safe-haven demand have created a perfect storm for gold.
According to RJO Futures senior market strategist Daniel Pavilonis, developments ahead of the US election and geopolitical developments in the Middle East are supporting the precious metal.
Gold is still operating in a favorable environment, with central banks on a path of interest rate cuts and geopolitical risks rising, said market analyst Tim Waterer of KCM Trade.
The expert believes that gold is likely to hit $2,800 an ounce this year. He noted that the precious metal’s upside momentum could be limited by profit-taking pressure. However, he said that buyers will stay on the sidelines and wait for a better opportunity to enter the market if any pullback occurs.
Kevin Grady, president of Phoenix Futures and Options, predicts that interest rates will fall and gold is poised to hit new highs. He believes that gold prices will reach $3,000 an ounce in the first quarter of next year.
Jim Wyckoff, senior analyst at Kitco, also said that the gold uptrend continues when looking at geopolitical and technical factors.
In the coming time, gold prices will still be affected by the Fed's interest rate management. According to the FedWatch tool of CME, US inflation has been restrained, the market is expecting a 92.2% chance that the FED will cut 25 basis points and a 7.8% chance that it will keep interest rates unchanged at the meeting on November 7.
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