Gold price today 10/6: Heavy loss after a week of buying

SJC gold bar price

At the end of the week's trading session, DOJI Group listed the price of SJC gold at 82-84 million VND/tael (buy - sell).

Compared to the closing price of last week's trading session, gold price at DOJI increased by 500,000 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 82-84 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 500,000 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 heavy losses.

If you buy gold at DOJI Group on September 29 at VND83.5 million/tael and sell it today (October 6), you will lose VND1.5 million/tael. Similarly, those who buy gold at Saigon Jewelry Company SJC will also lose VND1.5 million/tael.

Currently, the difference between the buying and selling price of gold 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 82.85-83.60 million VND/tael (buy - sell); an increase of 100,000 VND/tael for buying and an increase of 150,000 VND/tael for selling compared to the closing price of last week's trading session.

Saigon Jewelry Company listed the price of gold rings at 82-83.3 million VND/tael (buy - sell); an increase of 500,000 VND/tael for buying and 300,000 VND/tael for selling compared to the closing price of the previous trading session.

After a week of increase, if buying gold rings in the session of September 29 and selling in today's session (October 6), the loss that investors will receive when buying at DOJI and Saigon Jewelry Company is VND600,000/tael and VND1 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 2,653.8 USD/ounce, down 4.7 USD/ounce compared to the close of the previous week's trading session.

Gold Price Forecast

World gold prices recovered slightly despite the USD index still increasing. Recorded at 6:00 a.m. on October 6, the US Dollar Index, which measures the greenback's fluctuations against 6 major currencies, was at 102.280 points (up 0.52%).

The economic news calendar next week is not particularly busy, but investors will still pay attention to the US consumer price index for September, due for release on Thursday morning. Market participants will be looking at whether inflationary pressures continue to ease, which would support the US Federal Reserve's easing cycle.

Other notable economic data that could impact gold prices next week include the minutes of the Fed's most recent monetary policy meeting due out Wednesday afternoon...