SJC gold plummets rapidly

Domestic gold price today October 25, 2023

Early afternoon of October 25 , today's SJC 9999 gold price decreased by 250 thousand VND/tael in both buying and selling compared to early morning.

The price of 9999 gold was updated by Saigon Jewelry Company Limited (SJC) at 13:26 and the price of 9999 gold was listed by DOJI Jewelry Group at 13:32 as follows:

	Buy	Sell
SJC Hanoi	69,650,000 VND/tael	70,370,000 VND/tael
SJC HCMC	69,650,000 VND/tael	70,350,000 VND/tael
SJC Danang	69,650,000 VND/tael	70,370,000 VND/tael
DOJI Hanoi	69,600,000 VND/tael	70,400,000 VND/tael
DOJI HCMC	69,650,000 VND/tael	70,350,000 VND/tael

SJC and DOJI gold price list updated early afternoon October 25

Early morning of October 25 , 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 8:27 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	69,900,000 VND/tael	70,620,000 VND/tael
SJC HCMC	69,900,000 VND/tael	70,600,000 VND/tael
SJC Danang	69,900,000 VND/tael	70,620,000 VND/tael
DOJI Hanoi	69,850,000 VND/tael	70,650,000 VND/tael
DOJI HCMC	69,900,000 VND/tael	70,600,000 VND/tael

SJC and DOJI gold price list updated early morning October 25

At the end of the trading session on October 24, the domestic gold price of 9999 today was listed by SJC and DOJI Gold and Gemstone Group in the following order of buying and selling:

SJC Hanoi: 69,900,000 VND/tael - 70,600,000 VND/tael
DOJI Hanoi: 69,850,000 VND/tael - 70,650,000 VND/tael
SJC HCMC: 69,900,000 VND/tael - 70,620,000 VND/tael
DOJI HCMC: 69,950,000 VND/tael - 70,650,000 VND/tael

The central exchange rate on October 25, 2023 announced by the State Bank is 24,087 VND/USD, down 10 VND compared to yesterday. The USD price at commercial banks this morning (October 25) was traded around 24,360 VND/USD (buy) and 24,730 VND/USD (sell).

International gold price today October 25, 2023

At 9:14 a.m. today (October 25, Vietnam time), the world spot gold price stood at around 1,975.9 USD/ounce, up 12.9 USD/ounce compared to last night. The price of gold futures for December delivery on the Comex New York floor was at 1,986.9 USD/ounce.

Fluctuations in international gold prices in the past 24 hours (Photo: Kitco)

On the night of October 24 (Vietnam time), the spot price of gold today on the world market stood at around 1,963 USD/ounce. Gold for December delivery on the Comex New York floor was at 1,981 USD/ounce.

The world gold price on the night of October 24 was about 7.6% higher (139 USD/ounce) than at the beginning of 2023. World gold converted to the bank USD price was 59.1 million VND/tael, including taxes and fees, about 11.6 million VND/tael lower than the domestic gold price as of the end of the afternoon session on October 24.

Selling pressure increased after gold just experienced a strong increase. Investors took profits when the USD showed signs of increasing strongly again.

However, precious metals are supported by geopolitical uncertainties, the decline of many high-risk assets such as stocks in the context of the world economy facing many challenges.

Gold prices cooled down a bit today. (Photo: HH)

Most Asian and European stock markets have been unpredictable as the economies of these countries have yet to show clear positive signs.

This week, the Israel-Hamas conflict has not had any significant escalations.

What market observers are most concerned about is the instability occurring in many regions of the world. The United States is having difficulty stabilizing the situation in some regions, including the Middle East.

Gold Price Forecast

Regional unrest could cause disruptions to global supply chains, as happened after the Russia-Ukraine conflict. Inflation could rise uncontrollably again, as it did in Europe and the world after Russia and Ukraine fell into a terrible crisis.

The Israel-Hamas peace summit on Gaza, hosted by Egypt, ended without a solution to the current tense situation. The reason is said to stem from the differences in viewpoints of the parties involved.

The prices of many high-risk assets such as stocks could fall, while safe-haven assets such as the US dollar and gold could rise sharply.

Gold prices continue to rise as most observers believe that unrest in the Middle East could quickly flare up and shake the market.

Source: https://vietnamnet.vn/gia-vang-hom-nay-25-10-2023-vang-sjc-lao-doc-nhanh-2206281.html