Domestic gold price today October 18, 2023
Early morning of October 18 , SJC gold price 9999 today increased by 200 thousand VND/tael in both buying and selling compared to yesterday's closing price.
The price of 9999 gold was updated by Saigon Jewelry Company Limited (SJC) at 9:16 a.m. and the price of 9999 gold was listed by DOJI Jewelry Group at 9:17 a.m. as follows:
| Buy | Sell | |
| SJC Hanoi | 69,500,000 VND/tael | 70,220,000 VND/tael |
| SJC HCMC | 69,500,000 VND/tael | 70,200,000 VND/tael |
| SJC Danang | 69,500,000 VND/tael | 70,220,000 VND/tael |
| DOJI Hanoi | 69,250,000 VND/tael | 70,150,000 VND/tael |
| DOJI HCMC | 69,400,000 VND/tael | 70,100,000 VND/tael |
SJC and DOJI gold price list updated early morning October 18
At the end of the trading session on October 17, the domestic price of 9999 gold today was listed by SJC and DOJI Gold and Gemstone Group in the following order of buying and selling:
SJC Hanoi: 69,300,000 VND/tael - 70,020,000 VND/tael
DOJI Hanoi: 69,250,000 VND/tael - 70,150,000 VND/tael
SJC HCMC: 69,300,000 VND/tael - 70,000,000 VND/tael
DOJI HCMC: 69,400,000 VND/tael - 70,100,000 VND/tael
The central exchange rate on October 18, 2023 announced by the State Bank is 24,096 VND/USD, an increase of 3 VND compared to yesterday. The USD price at commercial banks this morning (October 18) was traded around 24,290 VND/USD (buy) and 24,660 VND/USD (sell).
International gold price today October 18, 2023
At 9:32 a.m. today (October 18, Vietnam time), the world spot gold price stood at around 1,941.9 USD/ounce, up 13.9 USD/ounce compared to last night. The price of gold futures for December delivery on the Comex New York floor was at 1,953.9 USD/ounce.
On the night of October 17 (Vietnam time), the spot price of gold today on the world market stood at around 1,928 USD/ounce, much higher than the level of 1,868 USD/ounce at the end of last week (October 13). Gold for December delivery on the Comex New York floor was at 1,944 USD/ounce.
The world gold price on the night of October 17 was about 5.7% higher (104 USD/ounce) than at the beginning of 2023. World gold converted to the bank USD price was 57.9 million VND/tael, including taxes and fees, about 12.1 million VND/tael lower than the domestic gold price as of the end of the afternoon session on October 17.
The conflict in the Middle East between Israel and Hamas is hotter than ever and could spread and shock the world. This region is an extremely important source and transport route of energy.
Some forecasts suggest that the conflict between Israel and Hamas could disrupt the world economy and even push the world economy into recession if more countries join the conflict.
The Israeli army is preparing to send troops into Gaza in response to an earlier attack by Hamas.
A wider conflict could bring Israel into direct conflict with Iran.
Under this scenario, Bloomberg estimates that oil prices could spike to $150 a barrel and global growth could fall to 1.7%. The world would fall into recession and the global economy would lose about $1 trillion.
Gold Price Forecast
In the past, the 1973 Arab-Israeli war, which led to an oil embargo, caused the economy and industrial production to stagnate for many years.
On the other hand, if the conflict is limited to the Gaza Strip, the impact on oil prices and the global economy will be negligible. Saudi Arabia and the United Arab Emirates (UAE) can make up for the loss of Iranian oil with their spare capacity.
Investors are cautious right now. The conflict in the Middle East may not be over yet, and there is a chance that there will be surprises that will shake markets in the days and weeks ahead.
Recently, there have been signs that the US Federal Reserve (Fed) may not raise interest rates at its meeting later this month. This is also a factor pushing gold prices up.
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