Why not buy gold now?

This morning (October 25), the price of gold rings remained at its peak of VND89 million/tael, equal to the price of SJC gold bars. Many experts say that one should not invest in buying gold at this time because the price is high and fluctuates strongly.

Phu Quy Gold and Silver Company listed gold ring price 87.9 - 89 million VND/tael for buying and selling.

Bao Tin Minh Chau Company listed the price of round gold rings at 87.48 - 88.98 million VND/tael. The price of gold rings listed by Doji Group is 88 - 89 million VND/tael for buying and selling.

Saigon Jewelry Company listed the lowest round ring price in the market at 86.9 - 88.2 million VND/tael for buying and selling.

Gold price maintained peak at 89 million VND/tael.

Plain rings have been increasing continuously for the past 10 days. Compared to mid-month, each tael of plain rings has increased by more than 5 million VND/tael.

SJC gold bar price is grouped bank State-owned banks (Vietcombank, Vietinbank, BIDV, Agribank) listed 89 million VND/tael. Enterprises listed SJC gold bar price at 87 - 89 million VND/tael for buying and selling.

At the same time, gold price The world listed price is 2,734 USD/ounce, up 13 USD/ounce compared to yesterday morning. The world gold price is equivalent to nearly 83 million VND/tael.

According to forecasts from the world's leading banks, the world gold price could reach 3,000 USD/ounce next year and the gold price domestic continue to increase. However, many experts say that you should not invest in buying gold at this time because the price is high and fluctuates strongly.

In the currency market, State Bank Listed exchange rate Center 24,260 VND/USD, up 10 VND/USD compared to before.

This is the 9th consecutive session. central rate adjusted up. Since the beginning of the week, the central exchange rate has increased by 57 VND. At commercial banks, the USD exchange rate is at 25,233 - 25,473 VND, up 10 VND/USD. both buying and selling

Since the beginning of October, the USD price at banks has increased by about 730 VND, equivalent to an increase of nearly 3%; thereby bringing the total depreciation of the VND against the USD since the beginning of the year to 4.3%; The USD price listed at banks has approached the historical peak of nearly 25,500 VND set in April.

Source