The domestic gold price today, October 27, is being traded at the following level:
At the end of the trading session of the week, the domestic gold bar price was listed by Doji Jewelry Group at: 41.75 million VND/tael (buy) and 41.95 million VND/tael (sell), an increase of 100,000 VND compared to the previous session.
Saigon Jewelry Company listed the price of SJC gold at 41.65 million VND/tael (buy) and 41.95 million VND/tael (sell) in Hanoi. SJC gold bar price in Ho Chi Minh City is listed at 41.93 million VND/tael (selling).
The world gold price today, October 27, increased by 11.6 USD to 1,503.6 USD/ounce. December gold futures remained almost unchanged at $1,504.6 an ounce.
Many analysts expect gold prices to increase higher next week as gold has made significant technical changes in the past week.
Afshin Nabavi - the head of trading at MKS (Sweden) SA said he is still optimistic about gold prices because the global economy is still a mess and investors are still dealing with great geopolitical instability.
However, he added that investors need to control their optimism about gold.
Sharing the same view, Ole Hansen - head of commodity strategy at Saxo Bank said that he is expecting gold to break the resistance level in the near future.
Ole Hansen believes the October rally broke through September's downtrend.
"This shows that there is still cravings for safe havens, but we need to see how strong it is. It will be too early to know whether this move is the start of a new uptrend. We continue to see that core demand for gold is quite strong and that is a positive sign," the strategist emphasized.
However, some analysts have spoken out about concerns that the kimical price increase this weekend could be an uptrend.
The reason is that the yellow metal has increased despite its record highs in the stock market, the stable strength of the US dollar and relatively unchanged bond yields.
