Updated SJC gold price
As of 9:00 a.m., DOJI Group listed the price of SJC gold bars at VND150.4-152.4 million/tael (buy in - sell out), an increase of VND2 million/tael in both directions. The difference between buying and selling prices is at 2 million VND/tael.
The price of SJC gold bars was listed by Bao Tin Minh Chau at 150.9-152.4 million VND/tael (buy - sell), an increase of 2 million VND/tael in both directions. The difference between buying and selling prices is at 1.5 million VND/tael.
Phu Quy Jewelry Group listed the price of SJC gold bars at 149.9-152.4 million VND/tael (buy - sell), an increase of 2 million VND/tael for buying and kept the same for selling. The difference between buying and selling prices is at 2.5 million VND/tael.
9999 round gold ring price
As of 9:00 a.m., DOJI Group listed the price of gold rings at 148.7-151.7 million VND/tael (buy - sell), an increase of 2.6 million VND/tael in both directions. The difference between buying and selling is 3 million VND/tael.
Bao Tin Minh Chau listed the price of gold rings at 149.5-152.5 million VND/tael (buy - sell), an increase of 2 million VND/tael in both directions. The difference between buying and selling is 3 million VND/tael.
Phu Quy Gold and Stone Group listed the price of gold rings at 148.8-151.8 million VND/tael (buy - sell), an increase of 2 million VND/tael in both directions. The difference between buying and selling is 3 million VND/tael.
The buying-selling gap is at a high level, increasing the risk for individual investors. Personal investors, especially those with a "surfing" mentality, need to consider carefully before putting money down.
World gold price
At 8:50 a.m., the world gold price was listed around 4,133.9 USD/ounce, up 85.3 USD compared to a day ago.
Gold price forecast
Gold prices surged, starting a quiet trading week due to shortened trading time during the US holiday. Traders and investors are waiting for a series of dense US economic data to be released on Tuesday and Wednesday.
US economic data will be released on Tuesday, including September retail sales, September manufacturing price index (PPI), pending home sales, Richmond FED's business survey, monthly home price index, consumer confidence index, trade and manufacturing inventories, and the Ministry of Finance's monthly budget report.
On Wednesday, there will be a weekly jobless claims report, a long-term goods order, a second Q3 GDP estimate, a preliminary economic index report, an ISM Chicago survey, personal income and spending (including important inflation measures), new housing sales, DOE's weekly liquidity inventory report and the Federal Reserve's Be Book.
Chris Louney - Director of Gold Strategy and Global Research at RBC Capital Markets said: Gold has proven its value, even against assets considered a store of value such as cryptocurrencies, in the context of Bitcoin weakening. We believe that the attractiveness of gold is still strong and has no competitors in the current environment.
Louney also said that, despite the short-term instability, the possibility of gold holding the important support level above 4,000 USD/ounce should be seen as a strong upward signal.
Technically, the next upside target for December gold delivery contracts is to close above the strong resistance level at the November peak of 4,250 USD/ounce. The short-term downside target for the bears is to pull the price down below the strong technical support zone at $4,000/ounce.
The first resistance level was at 4,100 USD/ounce, followed by the previous week's peak of 4,134.3 USD/ounce. First support was last night's low of $4,036.4 an ounce, followed by Friday's low of $4,018.1 an ounce.
Note: Gold price data is compared to a day earlier.
The world gold market operates through two main valuation mechanisms. The first is the spot delivery market, where prices are quoted for transactions and spot deliveries.
Second is the futures contract market, which sets prices for future deliveries. Due to year-end book-taking activities, December gold contracts are currently the most actively traded on CME.
See more news related to gold prices HERE...
