Gold price update on the morning of October 24: Strong increase

Gold price update on the morning of October 24: All increased. World gold showed an impressive recovery, nearly 100 USD/ounce.

SJC gold bar price

As of 6:00 a.m., the price of SJC gold bars listed by DOJI Group was at 147.5-149.5 million VND/tael (buy - sell), an increase of 900,000 VND/tael in both directions. The difference between the buy and sell prices was at 2 million VND/tael.

Bao Tin Minh Chau listed the price of SJC gold bars at 147.5-149.5 million VND/tael (buy - sell), an increase of 900,000 VND/tael in both directions. The difference between the buy and sell prices is at 2 million VND/tael.

SJC gold price movements in recent trading sessions. Chart: Khuong Duy

Phu Quy Gold and Gemstone Group listed the price of SJC gold bars at 147-149.5 million VND/tael (buy - sell), an increase of 400,000 VND/tael for buying and an increase of 900,000 VND/tael for selling. The difference between buying and selling prices is at 2.5 million VND/tael.

SJC gold bar price at some units. Table: Khuong Duy

9999 gold ring price

As of 6:00 a.m., DOJI Group listed the price of gold rings at 146.4-149.4 million VND/tael (buy - sell), an increase of 900,000 VND/tael in both directions. The difference between buying and selling is 3 million VND/tael.

Bao Tin Minh Chau listed the price of gold rings at 150.5-153.5 million VND/tael (buy - sell), an increase of 600,000 VND/tael in both directions. The difference between buying and selling is 3 million VND/tael.

Gold ring price movements in recent trading sessions. Chart: Khuong Duy

Phu Quy Gold and Gemstone Group listed the price of gold rings at 146.5-149.5 million VND/tael (buy - sell), an increase of 600,000 VND/tael for both buying and selling. The difference between buying and selling is 3 million VND/tael.

The high buy-sell gap increases the risk for individual investors. Individual investors, especially those with a “surfing” mentality, need to consider carefully before investing.

Plain gold ring price at some units. Table: Khuong Duy

World gold price

Recorded at 0:30, the world spot gold price was listed at 4,130.3 USD/ounce, up 99.1 USD.

World gold price movements in recent trading sessions. Chart: Khuong Duy

Gold price forecast

According to Jim Wyckoff - senior analyst of Kitco, the world gold and silver prices rebounded when the buying force to catch the bottom appeared after the previous deep declines. The price volatility remains high, which if prolonged could be disadvantageous for investors expecting the price to increase.

Despite the recent sharp correction, analysts believe that the gold price increase will continue thanks to expectations of a Fed rate cut and a weaker USD, boosting buying demand from both institutional and individual investors. Morgan Stanley believes that gold continues to play an important role as a safe haven asset amid geopolitical instability, concerns about US policy, and strong capital flows into ETFs and net purchases from central banks. The organization has raised its 2026 gold price forecast to $4,400/ounce.

However, risks remain if the USD maintains its strength or the Fed cuts interest rates less than expected. High gold prices could reduce jewelry demand and cause central banks to cut back on purchases. Mining supply is growing slowly, while the mining industry is unlikely to see a new “super cycle” of investment due to procedural and financial problems.

Technically, the bulls still have the upper hand in the gold market in the short term. The next target is to break above the important resistance level of $4,250/ounce, while the bears aim to pull the price back below the psychological support level of $4,000/ounce.

The $4,175-$4,200/ounce zone is a notable barrier. The $4,100/ounce and $4,079.6/ounce levels act as near-term support.

Source: https://laodong.vn/tien-te-dau-tu/cap-nhat-gia-vang-sang-2410-bat-tang-manh-me-1596452.ldo