This afternoon, Doji Gold and Gemstone Group reduced the price of gold bars by 500,000 VND per tael for both buying and selling compared to early this morning, down to 89.5 million VND/tael (selling).

Buy Sell
SJC HCMC 87,500,000 VND/tael 89,500,000 VND/tael
Doji Hanoi 87,500,000 VND/tael 89,500,000 VND/tael
Doji HCMC 87,500,000 VND/tael 89,500,000 VND/tael

SJC and Doji gold ring price list updated at noon 1/11

Doji Gold and Gemstone Group continued to reduce the price of 9999 gold rings to 88.1-89.1 million VND/tael (buy - sell), down 150 thousand VND per tael in both directions compared to early this morning.

Meanwhile, Saigon Jewelry Company (SJC) kept the price of gold rings of type 1-5 at only 87.4-88.9 million VND/tael (buy - sell).

Buy Sell
SJC 87,400,000 VND/tael 88,900,000 VND/tael
Doji 88,100,000 VND/tael 89,100,000 VND/tael

SJC and Doji gold ring price list updated at noon 1/11

Gold price movements today show that domestic gold rings were adjusted down early this morning.

At the beginning of this morning's trading session, Saigon Jewelry Company (SJC) listed the price of gold rings of type 1-5 at only 87.4-88.9 million VND/tael (buy - sell), down 300 thousand VND per tael in both buying and selling compared to the end of yesterday's trading session.

Similarly, Doji Gold and Gemstone Group lowered the price of 9999 gold rings to 88.25-89.25 million VND/tael (buy - sell), down 400 thousand VND per tael in both directions compared to the end of yesterday's trading session.

Buy Sell
SJC 87,400,000 VND/tael 88,900,000 VND/tael
Doji 88,250,000 VND/tael 89,250,000 VND/tael

SJC and Doji gold ring price list updated early morning 1/11

At the beginning of the trading session on November 1 , the price of SJC 9999 gold decreased by 500 thousand VND per tael in both buying and selling compared to the end of yesterday's trading session, losing the 90 million VND/tael mark (selling).

The price of 9999 gold was listed by Saigon Jewelry Company Limited (SJC) at 8:34 a.m. and the price of 9999 gold was updated by Doji Jewelry Group at 8:36 a.m. as follows:

Buy Sell
SJC HCMC 87,500,000 VND/tael 89,500,000 VND/tael
Doji Hanoi 88,000,000 VND/tael 90,000,000 VND/tael
Doji HCMC 88,000,000 VND/tael 90,000,000 VND/tael

                            SJC and Doji gold bar price list updated early morning 1/11

The central exchange rate on November 1, 2024 announced by the State Bank is 24,242 VND/USD, down 1 VND compared to the previous trading session. The USD price at commercial banks this morning (November 1) was commonly listed at 25,064 VND/USD (buy) and 25,454 VND/USD (sell).

At 8:32 a.m. today (November 1, Vietnam time) , the world spot gold price was at 2,746.5 USD/ounce, down 16.6 USD/ounce compared to last night. The price of gold futures for December 2024 on the Comex New York floor was at 2,757.35 USD/ounce.

On the morning of November 1 , the world gold price converted to USD bank price was over 85.1 million VND/tael, including tax and fees, about 4.4 million VND/tael lower than the domestic gold price.

The price of gold on the Kitco floor at 9:00 p.m. (October 31, Vietnam time) was trading at $2,763.1/ounce, down 0.91% from the beginning of the session. The price of gold futures for December 2024 delivery on the Comex New York floor was trading at $2,784.1/ounce.

At the beginning of the trading session on October 31 (US time), world gold prices fell sharply due to pressure from the US weekly unemployment benefit application data reaching 216,000, down 12,000 applications compared to the forecast figure of 228,000.

Better economic data will prompt the US Federal Reserve to keep interest rates unchanged, which will be negative for gold prices.

According to Daniel Pavilonis, senior market strategist at RJO Futures, in the long term, gold is supported by many factors, thereby helping the price of the precious metal have a lot of room to increase. He predicts that the price could reach the mark of $ 2,850 / ounce.

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Gold fell due to pressure from a more stable US economy. Photo: HH

Ole Hansen, Head of Commodity Strategy at Saxo Bank, said that gold prices will continue to rise due to the impact of the Fed possibly cutting interest rates by another 25 basis points. At the same time, the risk from the US presidential election also makes many investors choose gold as a safe haven for their assets.

In addition, the strength of the USD is on a downward trend, this factor helps gold regain its position.

Experts say that, more than ever, in the context of ongoing global geopolitical risks, especially military conflicts in the Middle East, gold is a hedge against such instability.

In the domestic market, at the end of the session on October 31, the price of 9999 gold bars at SJC and Doji was 88 million VND/tael (buy) and 90 million VND/tael (sell).

SJC announced the price of gold rings of type 1-5 at only 87.7-89.2 million VND/tael (buy - sell). Doji listed the price of 9999 smooth round gold rings at 88.65-89.65 million VND/tael (buy - sell).

Gold Price Forecast

According to CME's FedWatch tool, US inflation has been contained, the market is expecting a 96% chance that the Fed will cut 25 basis points at its meeting on November 7 and a 4% chance that it will keep interest rates unchanged at current levels.

In the long term, Dominik Sperzel, Head of Trading at Heraeus Metals Germany, said that gold prices could reach $3,000 an ounce by 2025 due to new concerns, capital flows into exchange-traded funds and post-election market corrections.

Recently, Goldman Sachs - a multinational investment bank in the US - has lowered its gold price forecast from $3,080/ounce to $3,000/ounce by December 2025. However, the bank's experts remain optimistic, saying that gold prices will increase by 7% due to Western exchange-traded funds.

Gold price today October 31, 2024 increased continuously, gold rings and gold bars hit record highs . Gold price today October 31, 2024 on the international market continued to increase, heading towards a new record high. Domestically, SJC gold rings increased by VND 200,000/tael, 9999 gold bars held firm at VND 90 million/tael (sold).