Domestic gold price today October 11, 2023
Early morning of October 11 , SJC 9999 gold price today remained unchanged compared to yesterday's closing price.
The price of 9999 gold was updated by Saigon Jewelry Company Limited (SJC) at 8:31 a.m. and the price of 9999 gold was listed by DOJI Jewelry Group at 8:37 a.m. as follows:
| Buy | Sell | |
| SJC Hanoi | 69,050,000 VND/tael | 69,770,000 VND/tael |
| SJC HCMC | 69,050,000 VND/tael | 69,750,000 VND/tael |
| SJC Danang | 69,050,000 VND/tael | 69,770,000 VND/tael |
| DOJI Hanoi | 68,850,000 VND/tael | 69,750,000 VND/tael |
| DOJI HCMC | 69,000,000 VND/tael | 69,700,000 VND/tael |
SJC and DOJI gold price list updated early morning October 11
At the end of the trading session on October 10, the domestic price of 9999 gold today was listed by SJC and DOJI Gold and Gemstone Group in the following order of buying and selling:
SJC Hanoi: 69,050,000 VND/tael - 69,770,000 VND/tael
DOJI Hanoi: 68,850,000 VND/tael - 69,750,000 VND/tael
SJC HCMC: 69,050,000 VND/tael - 69,750,000 VND/tael
DOJI HCMC: 69,000,000 VND/tael - 69,700,000 VND/tael
The central exchange rate on October 11, 2023 announced by the State Bank is 24,065 VND/USD, up 2 VND compared to yesterday. The USD price at commercial banks this morning (October 11) was traded around 24,200 VND/USD (buy) and 24,570 VND/USD (sell).
International gold price today October 11, 2023
At 9:00 a.m. today (October 11, Vietnam time), the world spot gold price stood at around 1,861.3 USD/ounce, up 4.7 USD/ounce compared to last night. The price of gold futures for December delivery on the Comex New York floor was at 1,874.7 USD/ounce.
On the night of October 10 (Vietnam time), the spot price of gold today on the world market stood at around 1,856 USD/ounce. Gold for December delivery on the Comex New York floor was at 1,872 USD/ounce.
The world gold price on the night of October 10 was about 1.8% higher (32 USD/ounce) than at the beginning of 2023. World gold converted to the bank USD price was 55.5 million VND/tael, including taxes and fees, about 14.3 million VND/tael lower than the domestic gold price as of the end of the afternoon session on October 10.
Gold prices rose after Israel refused to reconcile with Hamas. Both Israel and Hamas have been adamant that they will continue their attacks. Talks between the EU, US, UAE, Saudi Arabia, Jordan and Qatar have begun but it is considered too early to reach a deal.
Gold prices also increased because the commodity closely related to gold, oil, became hot after Israel announced a state of war.
Gold Price Forecast
On Reuters, experts from Leader Capital Markets said that this conflict is expected to be long-lasting and serious.
ANZ Bank experts believe that oil prices will continue to rise in the coming time. Oil prices have recently increased due to reduced supply due to OPEC+ countries reducing production. In the fourth quarter, supply may be disrupted due to Iran cutting exports.
Gold is often seen as a safe haven during times of global uncertainty. The ongoing Israeli-Hamas conflict could spur a move into safe haven assets such as gold and the US dollar.
Many organizations have not yet made a gold price forecast. It is believed that much will depend on how long the conflict will last and how intense it will be.
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