The domestic price of 9999 gold rings continued to increase on the morning of October 17, breaking the peak set yesterday to set a new peak. Gold trading enterprises simultaneously listed the price of gold rings at over 84 million VND/tael, the highest approaching 84.5 million VND/tael.
At around 9:30 this morning, PNJ Company quoted the price of 9999 gold rings at 83.3 million VND/tael for buying and 84.3 million VND/tael for selling, an increase of 150,000 VND for both buying and selling compared to yesterday.
SJC Company traded 9999 gold rings at 82.9 million VND/tael for buying and 84.2 million VND/tael for selling, an increase of 500,000 VND for both buying and selling.
Bao Tin Minh Chau Company listed at 83.33 million VND/tael for buying and 84.33 million VND/tael, an increase of 300,000 VND for both buying and selling.
Meanwhile, the price of SJC gold bars was kept listed by SJC, PNJ and Doji Group at 84 million VND/tael for buying and 86 million VND/tael for selling - unchanged from yesterday.
The selling price of SJC gold at 4 State-owned commercial banks (Agribank, BIDV, Vietcombank and Vietinbank) remains at 86 million VND/tael.
Thus, 9999 gold rings have officially set a new peak at 84.33 million VND/tael.
On the world gold market, the closing price of gold in New York on the night of October 16 was 2,674.2 USD/ounce, up 12.3 USD compared to the previous session. The spot gold price on the Kitco floor on the morning of October 17 (Vietnam time) continued to increase to 2,684.2 USD/ounce. This price after conversion is equivalent to 81.3 million VND/tael, about 4.7 million VND/tael lower than SJC gold and about 3.03 million VND/tael lower than 9999 ring gold.
World gold prices are approaching record prices amid market expectations of major central banks cutting interest rates and falling US bond yields. Financial strategists' predictions of a 25 basis point rate cut by the US Federal Reserve (FED) in November 2024 are being reinforced. Weaker inflation data in Europe and the UK has raised expectations that the European Central Bank (ECB) and the Bank of England (BoE) will implement stronger monetary easing measures. This prediction has caused bond yields to fall, thereby supporting gold prices.
Nhung Nguyen
Source: https://www.sggp.org.vn/gia-vang-nhan-9999-lien-tuc-thiet-lap-dinh-moi-post764020.html
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