Gold prices today, October 31, 2024, in the world and domestic markets, are experiencing a "storm", continuously breaking historical peaks. In the coming time, spot gold prices will face a resistance level of 2,800 USD/ounce, then 2,826 USD/ounce.
| 1. PNJ - Updated: October 30, 2024 22:30 - Time of website supply - ▼ / ▲ Compared to yesterday. | ||
| Type | Buy | Sell |
| HCMC - PNJ | 88,400 ▲600K | 89,500 ▲600K |
| HCMC - SJC | 88,000 ▲1000K | 90,000 ▲1000K |
| Hanoi - PNJ | 88,400 ▲600K | 89,500 ▲600K |
| Hanoi - SJC | 88,000 ▲1000K | 90,000 ▲1000K |
| Da Nang - PNJ | 88,400 ▲600K | 89,500 ▲600K |
| Da Nang - SJC | 88,000 ▲1000K | 90,000 ▲1000K |
| Western Region - PNJ | 88,400 ▲600K | 89,500 ▲600K |
| Western Region - SJC | 88,000 ▲1000K | 90,000 ▲1000K |
| Jewelry gold price - PNJ | 88,400 ▲600K | 89,500 ▲600K |
| Jewelry gold price - SJC | 88,000 ▲1000K | 90,000 ▲1000K |
| Jewelry gold price - Southeast | PNJ | 88,400 ▲600K |
| Jewelry gold price - SJC | 88,000 ▲1000K | 90,000 ▲1000K |
| Jewelry gold price - Jewelry gold price | PNJ 999.9 Plain Ring | 88,400 ▲600K |
| Jewelry gold price - Jewelry gold 999.9 | 88,300 ▲600K | 89,100 ▲600K |
| Jewelry gold price - Jewelry gold 999 | 88,210 ▲600K | 89,010 ▲600K |
| Jewelry gold price - Jewelry gold 99 | 87,310 ▲590K | 88,310 ▲590K |
| Jewelry gold price - 916 gold (22K) | 81,220 ▲550K | 81,720 ▲550K |
| Jewelry gold price - 750 gold (18K) | 65,580 ▲450K | 66,980 ▲450K |
| Jewelry gold price - 680 gold (16.3K) | 59,340 ▲410K | 60,740 ▲410K |
| Jewelry gold price - 650 gold (15.6K) | 56,670 ▲390K | 58,070 ▲390K |
| Jewelry gold price - 610 gold (14.6K) | 53,100 ▲360K | 54,500 ▲360K |
| Jewelry gold price - 585 gold (14K) | 50,870 ▲350K | 52,270 ▲350K |
| Jewelry gold price - 416 gold (10K) | 35,820 ▲250K | 37,220 ▲250K |
| Jewelry gold price - 375 gold (9K) | 32,160 ▲220K | 33,560 ▲220K |
| Jewelry gold price - 333 gold (8K) | 28,150 ▲190K | 29,550 ▲190K |
Update gold price today October 31, 2024
Domestic gold prices broke historical peaks for both SJC gold and ring gold.
Refusing the trading session on October 30, SJC Company changed the buying and selling price of gold bars by increasing 1 million VND per tael to 88 million VND/tael for buying and 90 million VND/tael for selling. This is the second price adjustment of this enterprise in the past 2 weeks. This is also the selling price of 4 commercial banks.
Meanwhile, other businesses such as PNJ, DOJI, and Bao Tin Minh Chau still maintain the selling price of SJC gold bars at VND89 million/tael.
The price of 99.99 gold rings and various types of jewelry gold was also adjusted by some businesses to increase by VND200,000 per tael compared to the morning. Specifically, SJC company traded gold rings at VND87.5 million/tael for purchase and VND89 million/tael for sale.
DOJI Group raised the buying price of this type of gold to 88.6 million VND/tael and the selling price to 89.6 million VND/tael, an increase of 600,000 VND per tael compared to the morning.
The difference in buying and selling price of gold rings is maintained at 1 million VND/tael; while the price difference of SJC gold bars is 2 million VND/tael.
SJC is the only major brand that has a continuous supply of plain rings on the market, but also limits each person to a maximum of 5 coins. Most other major gold brands such as DOJI, PNJ, Bao Tin Minh Chau... often run out of plain rings.
With gold bars, buying is not easy either.
People reported that the procedure for buying gold bars at 5 units authorized by the State Bank (SJC and 4 state-owned banks) is more difficult than before. The purchase quantity is also limited to only 1-2 taels and applies to customers who have successfully registered online.
World gold prices anchored at a record high, as investors sought this safe asset less than a week before the US presidential election, while they also waited for economic data to grasp the US Federal Reserve's stance on interest rates.
Another factor contributing to the record high in gold prices is the possibility of further interest rate cuts by the Fed. Lower interest rates reduce the opportunity cost of holding gold.
Fed policymakers are almost certain to cut interest rates by 25 basis points next week, as a US Labor Department report showed job openings in September 2024 fell to their lowest level since January 2021.
According to the World and Vietnam Newspaper at 7:00 p.m. on October 30, the world gold price on the Kitco exchange was at 2,779 - 2,780 USD/ounce, an increase of 5.1 USD/ounce.
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| Gold price today October 31, 2024: Gold price hits ceiling, world 'breaks peak', SJC 'fluctuates', even with money it's hard to buy. (Source: Forbes) |
Summary of gold prices at major domestic trading brands at closing times on the afternoon of October 30:
Saigon Jewelry Company SJC: SJC gold bars 88 - 90 million VND/tael.
Doji Group: SJC gold bars 88 - 90 million VND/tael.
PNJ system: SJC gold bars 88 - 90 million VND/tael.
Phu Quy Gold and Silver Group: SJC gold bars 88.3 - 90 million VND/tael.
Why the gold market is experiencing a "hurricane"
According to experts, the price of gold rings has been increasing continuously recently due to the impact of world prices.
For the global market, Kelvin Wong, senior market analyst for Asia-Pacific at OANDA, said that gold prices will be greatly affected by the US election results. In the coming time, spot gold prices will face resistance at $2,800/ounce, then $2,826/ounce.
Speculators appear to be taking advantage of the dollar's pause and rising yields, along with the momentum from US election risks and expectations of a Fed rate cut.
In the Vietnamese market, the price of gold has increased due to the high demand for gold by Vietnamese people as gold is considered as an asset for storage and savings. When gold bars are increasingly difficult to buy, many people are looking for gold rings, causing the points of sale to fall into a state of scarcity of supply.
Besides, many people are still holding gold and not selling it, waiting for the price to go higher to sell.
While the State Bank has not made any move to allow gold trading enterprises to import gold. Therefore, gold rings are increasingly sold less and less due to limited supply.
Source: https://baoquocte.vn/gia-vang-hom-nay-31102024-gia-vang-don-con-cuong-phong-sjc-vang-nhan-phap-phoi-co-tien-cung-kho-mua-291920.html
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