Gold ring price is about to close the gap with gold bar price

Gold prices have been continuously increasing recently - Photo: NGOC PHUONG

The price of 9999 gold rings is only 300,000 - 600,000 VND/tael lower than the price of SJC gold bars.

At the current price, converted according to the listed exchange rate at the bank, the world gold price is equivalent to 83.15 million VND/tael.

The increase in world gold prices has caused the price of 9999 gold rings on the market to continue to increase shockingly today, October 19.

SJC Company increased the selling price of 9999 gold rings by nearly half a million VND/tael, to 85.4 million VND/tael, the buying price also increased to 84 million VND/tael. The difference between buying and selling prices increased from 1.1 million VND/tael to 1.5 million VND/tael.

At Bao Tin Minh Chau Company, the selling price of gold rings increased sharply, reaching a record of VND85.68 million/tael. The buying price also increased accordingly, to VND84.68 million/tael.

DOJI increased the selling price of 9999 gold rings to 85.7 million VND/tael. The buying price increased to 84.7 million VND/tael.

Although the world gold price increased sharply, SJC Company kept the selling price of SJC gold bars at 86 million VND/tael and the buying price at 84 million VND/tael.

At the current price, the price of 9999 gold rings is only 300,000 - 600,000 VND/tael lower than the price of SJC gold bars.

This is a record low difference because SJC gold bars always maintain a difference of 2-3 million VND/tael compared to gold rings.

World gold prices have increased more than 30% since the beginning of the year.

World gold price sets all-time record - Screenshot

Thus, just this year, the world gold price has increased by more than 30% due to information that the US Federal Reserve (Fed) lowered interest rates, uncertainties surrounding the upcoming US election and geopolitical tensions in the Middle East, along with the trend of net gold purchases by central banks.

In recent days, despite the USD maintaining an upward trend, the world gold price has still broken out to an all-time record. According to analysts, not only the Fed but many other central banks in the world have entered a cycle of easing monetary policy. This is the factor that pushed the gold price to break out.

Recently, many experts predict that the price of gold will reach 2,941 USD/ounce in the next 12 months, even reaching 3,000 USD/ounce in 2025.

Investors are now betting on a nearly 91% chance that the Fed will cut interest rates by 0.25% at its next meeting. Others predict that the Fed will not cut interest rates.

Source: https://tuoitre.vn/gia-vang-nhan-sap-san-bang-khoang-cach-voi-gia-vang-mieng-20241019195959348.htm