While the price of gold rings today increased to 950,000 VND/tael, the price of SJC gold bars increased by 2 million VND/tael.
Yesterday (October 20), the price of gold bars was listed by DOJI Group, Saigon Jewelry Company SJC and Bao Tin Minh Chau at 84-86 million VND/tael (buy - sell).
At 12:00 on October 21, the price of SJC gold bars was increased by 2 million VND/tael in both directions by these units, to 86 - 88 million VND/tael (buy - sell).
Thus, after just one trading session, the gold buyer has broken even. This is relatively difficult because the difference of 2 million VND/tael between buying and selling gold bars is considered very high.
For the price of plain gold rings, on October 20, DOJI listed it at 84.7-85.7 million VND/tael (buy - sell). Bao Tin Minh Chau listed the price of gold rings at 84.68-85.68 million VND/tael (buy - sell).
At 12 noon today (October 21), the price of 9999 Hung Thinh Vuong round gold ring at DOJI was listed at 85.65-86.65 million VND/tael (buy - sell); increased by 950,000 VND/tael for both buying and selling.
Bao Tin Minh Chau listed the price of gold rings at 85.48-86.48 million VND/tael (buy - sell), an increase of 800,000 VND/tael for both buying and selling.
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.
Notably, despite gold’s record highs, the precious metal is still receiving positive forecasts from experts. The latest weekly gold survey from Kitco News shows that industry experts are almost unanimous in their bullish outlook for gold this week. Meanwhile, the majority of investors are positive on gold in the short term, after weeks of declining confidence.
Sixteen analysts participated in the Kitco News gold survey. Fifteen of the 16 experts said they see higher gold prices. Only one investor was neutral on the short-term outlook for gold. None predicted a decline in the precious metal in the short term.
Meanwhile, 159 votes were cast in Kitco’s online poll. The majority of Main Street investors expect gold prices to rise again. 115 traders predict gold prices will rise this week. Only 27 see the precious metal falling. The remaining 17 see prices moving sideways this week.
