World gold price falls vertically like being scared by a ghost on Halloween

Báo Tuổi TrẻBáo Tuổi Trẻ01/11/2024

After many days of soaring prices, the world gold price has turned down by 54 USD/ounce tonight, October 31.


Giá vàng thế giới rơi thẳng đứng trong ngày Halloween - Ảnh 1.

Gold price suddenly dropped sharply tonight - Screenshot

Gold price plummets as it nears $2,800/ounce threshold

The above decrease in gold price is equivalent to 1.66 million VND/tael.

At 10:30 pm tonight, the world gold price was only 2,733.6 USD/ounce. Converted according to the exchange rate listed at the bank, the world gold price is equivalent to 83.88 million VND/tael.

World gold prices fell due to profit-taking pressure as gold prices have increased continuously over the past few days.

In addition, some recently released information also puts pressure on gold prices.

Over the past 22 days, the world gold price has increased by a total of 177 USD/ounce, from 2,610 USD/ounce to a peak of 2,787 USD/ounce before plummeting sharply tonight. The above increase is equivalent to 5.43 million VND/tael.

In recent days, the world gold price has continuously set records, bringing the price of SJC gold bars back to the threshold of 90 million VND/tael. The price of 9999 gold rings is also approaching the 90 million VND/tael mark.

Today, SJC Company and banks in the Big4 group listed the selling price of gold bars at 90 million VND/tael.

The purchase price at SJC Company is up to 88 million VND/tael.

Meanwhile, the selling price of SJC brand 9999 gold rings sold at SJC Company reached 89.2 million VND/tael, an increase of 200,000 VND/tael compared to yesterday. The buying price was 87.7 million VND/tael.

At Bao Tin Minh Chau Company, the selling price of gold rings skyrocketed to 89.63 million VND/tael, buying price 88.63 million VND/tael. The difference between buying and selling price is 1 million VND/tael.

Similarly, DOJI Company also increased the selling price of 9999 gold rings to 89.65 million VND. The buying price is at 88.65 million VND/tael.

Thus, in recent days, the price of 9999 gold rings has always chased and closely followed the price of SJC gold bars.

Compared to the converted world gold price, the domestic gold price is 6.12 million VND/tael higher. This difference tends to increase due to the sharp decrease in world gold price.

It is predicted that if the world gold price continues to plummet, the domestic gold price will decrease tomorrow morning.

However, even though the gold price has decreased, buying gold is still very difficult, especially gold rings because the supply on the market is very scarce. Meanwhile, if you want to buy SJC gold bars, you have to order online, but it is also difficult to buy because the quantity is limited.

Gold prices this year increased the most in the past 45 years

Giá vàng thế giới rơi thẳng đứng trong ngày Halloween - Ảnh 2.

Since the beginning of this year, gold prices have increased by more than 35%. 2024 is also the year when gold prices have increased the most since 1979 - Photo: NGOC PHUONG

According to analysts, gold prices will continue to fluctuate unpredictably ahead of the US presidential election. In recent days, bets on Mr. Trump winning the upcoming US presidential election have increased. This has also been reflected in gold prices in recent days.

Many investors with the fear of missing out (FOMO) mentality in this gold rush have joined in, causing the gold price to be pushed close to the $2,800/ounce mark, despite high US Treasury bond yields and the USD exchange rate.

Although the world gold price has plummeted tonight, according to analysts, there are still factors that are driving up the gold price, such as the upcoming US presidential election, the US Federal Reserve (Fed) about to further reduce interest rates, and the ongoing war between Russia and Ukraine.

Experts also predict that after this adjustment, gold prices will likely regain momentum, even reaching $2,850/ounce.

Global gold demand hit a record high in the third quarter of this year, driven largely by investor demand, according to the World Gold Council (WGC). Professional and institutional investors appear to be in a FOMO mood, according to the WGC.

Gold prices have risen more than 35% since the beginning of the year, and 2024 is also set to be the year with the strongest increase in gold prices since 1979.

Please read the updated domestic gold price developments HERE.

Giá vàng thế giới rơi thẳng đứng trong ngày Halloween - Ảnh 3. Gold price breaks through the roof

The world gold price surpassed 2,700 USD/ounce for the first time, surprising investors today, October 18. Thus, the gold price has reached its highest level in history.



Source: https://tuoitre.vn/gia-vang-the-gioi-roi-thang-dung-nhu-bi-nhat-ma-ngay-halloween-20241031224145118.htm

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