LIVE UPDATE TABLE OF GOLD PRICE TODAY OCTOBER 4 AND EXCHANGE RATE TODAY OCTOBER 4
| 1. PNJ - Updated: October 3, 2023 20:30 - Website supply time - ▼ / ▲ Compared to yesterday. | ||
| Type | Buy | Sell |
| HCMC - PNJ | 55,500 ▼300K | 56,500 ▼400K |
| HCMC - SJC | 68,300 | 69,000 ▲50K |
| Hanoi - PNJ | 55,500 ▼300K | 56,500 ▼400K |
| Hanoi - SJC | 68,300 | 69,000 ▲50K |
| Da Nang - PNJ | 55,500 ▼300K | 56,500 ▼400K |
| Da Nang - SJC | 68,300 | 69,000 ▲50K |
| Western Region - PNJ | 55,500 ▼300K | 56,500 ▼400K |
| Western Region - SJC | 68,400 | 68,900 |
| Jewelry gold price - PNJ rings (24K) | 55,500 ▼300K | 56,400 ▼500K |
| Jewelry Gold Price - 24K Jewelry | 55,400 ▼300K | 56,200 ▼300K |
| Jewelry Gold Price - 18K Jewelry | 40,900 ▼230K | 42,300 ▼230K |
| Jewelry Gold Price - 14K Jewelry | 31,630 ▼170K | 33,030 ▼170K |
| Jewelry Gold Price - 10K Jewelry | 22,130 ▼120K | 23,530 ▼120K |
Domestic gold prices continue to rise for SJC gold bars, despite a sharp drop in world gold prices. This phenomenon often occurs every time world gold prices reverse sharply. The reason is that international gold prices fluctuate strongly, while domestic prices decrease more slowly and remain high. Domestic businesses are cautious about risks, while gold supply is limited, leading to a widening gap between domestic and world gold prices.
SJC gold price increased by about 100-200 thousand VND/tael this morning, bringing the selling price to 69 million VND/tael.
This opposite fluctuation is currently causing the price of SJC gold bars to be about 14.7 million VND/tael higher than the world gold price. This is the highest price gap between domestic and international prices in recent months.
However, the price of gold rings plummeted following the downward trend of the world market, "evaporating" another half million VND/tael compared to the end of the session on October 2. Compared to the peak of 58.2 million VND/tael about 10 days ago, the price of gold rings and jewelry gold has decreased by about 1.7 million VND/tael.
According to the World & Vietnam Newspaper , the world gold price at 9:00 p.m. on October 3 (Vietnam time), the world gold price on the Kitco floor was trading at 1,822.00 USD/ounce , continuing to decrease by 5.7 USD compared to the previous session. The December gold futures price hit its lowest level in 10 months. The December gold delivery price last decreased by 6.50 USD to trade at 1,840.80 USD/ounce.
Converted according to the USD exchange rate at Vietcombank, the world gold price is currently equivalent to 53.8 million VND/tael (excluding taxes and fees).
 |
| Gold price today October 4, 2023: Domestic gold price is getting more and more expensive, the world 'big discount', why should you buy gold now? (Source: Shutterstock) |
Summary of SJC gold prices at major domestic trading brands at the closing time of October 3:
Saigon Jewelry Company listed the price of SJC gold at 68.20 - 68.92 million VND/tael.
Doji Group currently lists the price of SJC gold at: 68.15 - 69.05 million VND/tael.
Phu Quy Group currently lists the price of SJC gold at: 68.25 - 69.00 million VND/tael.
PNJ system listed at: 68.30 - 68.90 million VND/tael.
SJC gold price at Bao Tin Minh Chau is listed at: 68.27 - 68.92 million VND/tael; Rong Thang Long gold brand is traded at 55.88 - 56.78 million VND/tael; jewelry gold price is traded at 55.45 - 56.55 million VND/tael.
Gold prices are forecast to remain under pressure
The world gold price has dropped a total of $100/ounce in the past two weeks. The precious metal is still under pressure from the increasingly strong USD and the highest US Treasury bond interest rates in 16 years, causing gold to fall into a difficult situation.
The DXY index, which measures the strength of the US dollar against a basket of major currencies, has now surpassed 107 points, its highest level since November 2022. The US dollar hit a new 11-year high on October 3, after strong US economic data boosted the view that the US Federal Reserve (Fed) will keep interest rates high for a long time.
Some analysts still expect gold prices to recover in the long term, after US Treasury yields peak, it is only a matter of time before the Fed starts cutting interest rates. According to the Heraeus Expert Group, when the Fed turns around to cut interest rates, the USD will tend to weaken, US Treasury yields will decrease and the economy will tend to worsen. All of these factors can play a role in supporting gold prices. However, this is a medium and long-term forecast, while in the short term, gold prices still face a lot of pressure.
The appeal of gold as an investment has been maintained over time and continues to be a popular choice. One of the main reasons is that gold is a safe haven. Regardless of the time, gold remains a stable asset, its value is not affected, especially by economic instability; Unlike other currencies that decrease when inflation occurs, the value of gold remains the same or even increases; Diversifying your portfolio is especially beneficial because gold allows you to avoid overall risk; And gold is a particularly attractive investment because it is one of the most liquid assets in the world...
History shows that gold is a safe bet in a portfolio, especially over the long term. In the short term, like now, gold prices can fluctuate based on a variety of factors. And now, with the US dollar strong and Treasury yields rising, many bulls have chosen to stay on the sidelines.
Source
Comment (0)