DNVN - The world gold price has stopped after setting a record in the trading session of October 21, while the domestic SJC gold bar price continued to increase strongly on the morning of October 22.
According to VNA, at 9:10 a.m., Saigon Jewelry Company (SJC) announced the price of SJC gold bars at VND87 - 89 million/tael (buy - sell), an increase of VND1 million/tael in both directions compared to the closing price of the previous session.
Illustration photo: Minh Quyet/VNA
Similarly, DOJI Gold and Gemstone Group also announced the price of SJC gold bars at 87 - 89 million VND/tael (buy - sell), recording an increase of 1 million VND/tael in both buying and selling compared to the previous session. The difference in buying and selling prices of SJC gold between Saigon Jewelry Company and DOJI Group is currently at 2 million VND/tael.
The price of gold rings also had a slight adjustment. DOJI Gold and Gemstone Group listed the price of gold rings at 85.9 - 86.9 million VND/tael (buy - sell), an increase of 100 thousand VND/tael in both directions compared to the previous session. The difference between the buying and selling price of gold rings at DOJI Group is at 1 million VND/tael.
Phu Nhuan Jewelry Joint Stock Company also announced the price of gold rings at 85.8 - 86.75 million VND/tael (buy - sell), with an increase of 200 thousand VND/tael for buying and 150 thousand VND/tael for selling compared to the closing price of the previous session.
In the world market, gold prices have stopped increasing after reaching a record peak in the trading session on October 21, partly due to US government bond yields and the increase in the value of the USD putting pressure on the price of this precious metal.
As of 00:35 Vietnam time, spot gold was almost unchanged at $2,723.25 an ounce, after hitting an all-time high of $2,740.37 an ounce. Gold futures rose 0.3% to $2,738.9 an ounce.
According to Mr. Daniel Pavilonis, senior strategist at RJO Futures, the 10-year bond yield is rising sharply, while the USD is also increasing in value, putting pressure on gold prices.
Gold, seen as a safe haven amid economic and political uncertainty, has risen more than 32% since the start of the year, hitting new records, largely due to the US Federal Reserve’s interest rate cuts and demand for safe havens.
UBS analyst Giovanni Staunovo predicts gold could hit $2,900 an ounce in the next 12 months if the Fed continues to cut rates. Traders currently see an 85% chance the Fed will cut rates by another quarter point in November.
Cao Thong (t/h)
Source: https://doanhnghiepvn.vn/kinh-te/vang-mieng-sjc-sang-22-10-tang-manh-len-89-trieu-dong-luong/20241022094113072
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