The domestic gold price today, October 3, is being traded at the following level:
Opening this morning's trading session, the gold price at 9:00 a.m. was listed by SJC Hanoi at 41.55 million VND/tael (up 400,000 VND/tael for buying) and 41.87 million VND/tael (up 350,000 VND/tael for selling) compared to yesterday morning's session.
Doji Hanoi Jewelry was listed at 41.65 million VND/tael (up 500,000 VND for buying) and 42.15 million VND/tael (up 700,000 VND for selling) compared to the session yesterday morning.
Ho Chi Minh City SJC listed at 41.55 million VND/tael (up 400,000 VND/tael for buying) and 41.85 million VND/tael (up 350,000 VND for selling) compared to the morning session on October 2.
The world gold price today, October 3, immediately traded at 1,591.28 USD/oz, up 22.43 USD/oz for buying and 1,501.66 USD/oz, up 22.58 USD/oz for selling compared to the morning session on October 2.
Converting to USD price at Vietcombank (1 USD = 23,110 VND) world gold is equivalent to 41.50 million VND/tael, 50,000 VND/tael lower than the selling price of SJC gold (excluding taxes and fees).
capitals are trending towards USD and stocks, but in the long term, gold is said to be in an uptrend. Some investors are even waiting for gold to hit rock bottom to buy.
George Gero - CEO of RBC Wealth Management said he predicted that the time when gold plummeted was when investors started to rush in to buy to catch the bottom. This will be a factor supporting gold prices to increase. However, the current strong USD price is a big wind for gold and this is not easy to change in the short term.
According to a survey by Main Street investors, gold prices are expected to increase despite expectations of falling to a three-month low.
George Gero - CEO of RBC Wealth Management said he predicted that the time when gold plummeted was when investors started to rush in to buy to catch the bottom. This will be a factor supporting gold prices to increase.
Many experts said that gold's increase is believed to be due to the decreasing popularity of the USD. Negative economic information has made investors expect the US Federal Reserve (Fed) to further loosen monetary policy in 2019, thereby pushing the USD down and gold prices up.
In the latest move, US President Donald Trump has accused US Federal Reserve Chairman Jerome Powell of being the ones to "harm" in dealing with the negative signs of the economy on Tweeter.
phanist at Phillip Futures Benjamin Lu commented to Reuters that, in the context of the current global economy facing many risks, gold is still a good storage channel.
