The domestic gold price opening today's trading session (October 30) was listed by DOJI Group at 70.05 million VND/tael for buying and 69.95 million VND/tael for selling.
The difference between buying and selling gold prices at DOJI is 900,000 VND/tael.
Compared to the opening of yesterday's trading session, gold price at DOJI decreased by 50,000 VND/tael for both buying and selling.
Meanwhile, Saigon Jewelry Company listed the buying price of gold at 70 million VND/tael; the selling price was 70.7 million VND/tael.
The difference between buying and selling gold prices at Saigon Jewelry Company SJC is 700,000 VND/tael.
Compared to yesterday's opening session, the gold price at Saigon Jewelry Company SJC decreased by 200,000 VND/tael for buying and decreased by 300,000 VND/tael for selling.
Although it has been adjusted down, the current gap between buying and selling gold in the country is very high. This can put buyers at risk of losing money when investing in the short term.
World gold price as of 9:00 am today, listed on Kitco at 2,003.8 USD/ounce. Compared to the opening of the previous trading session, world gold price decreased by 1.8 USD/ounce.
Gold prices held steady, supported by growing risk aversion amid ongoing conflict in the Middle East.
The latest weekly gold survey shows that retail investors and the majority of market analysts are bullish on the precious metal, but a minority still expect gold to fall or enter a consolidation phase this week.
Colin Cieszynski, chief market strategist at SIA Wealth Management, said he expects gold to be volatile this week but is unsure which way it will go. He said he is looking for another hawkish decision at the Federal Reserve meeting this week.
Cieszynski doesn't think the Fed is ready to announce that it's done hiking rates. He predicts the Fed will keep rates unchanged and leave open the possibility of another hike in December.
“The inflation numbers are good enough that they don't need to raise rates again, but at the same time they're not coming down fast enough for them to say we're done,” he said.
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