Domestic gold price today October 23, 2023
Early morning of October 23 , SJC's 9999 gold price today decreased by 200 thousand VND/tael for buying and 300 thousand VND/tael for selling compared to the end of last week's trading session.
The price of 9999 gold was updated by Saigon Jewelry Company Limited (SJC) at 8:38 a.m. and the price of 9999 gold was listed by DOJI Jewelry Group at 8:54 a.m. as follows:
| Buy | Sell | |
| SJC Hanoi | 70,050,000 VND/tael | 70,770,000 VND/tael |
| SJC HCMC | 70,050,000 VND/tael | 70,750,000 VND/tael |
| SJC Danang | 70,050,000 VND/tael | 70,770,000 VND/tael |
| DOJI Hanoi | 69,950,000 VND/tael | 70,850,000 VND/tael |
| DOJI HCMC | 70,000,000 VND/tael | 70,800,000 VND/tael |
SJC and DOJI gold price list updated early morning October 23
At the end of the session on October 21, the price of 9999 gold bars at SJC Ho Chi Minh City was 70.25 million VND/tael (buy) and 71.05 million VND/tael (sell). SJC Hanoi listed at 70.25 million VND/tael (buy) and 71.07 million VND/tael (sell).
DOJI Hanoi listed at 70.3 million VND/tael (buy) and 71.1 million VND/tael (sell). DOJI Ho Chi Minh City bought SJC gold at 70.1 million VND/tael and sold at 71 million VND/tael.
The central exchange rate on October 23, 2023 announced by the State Bank is 24,090 VND/USD, down 11 VND compared to last weekend. The USD price at commercial banks this morning (October 23) was traded around 24,320 VND/USD (buy) and 24,690 VND/USD (sell).
International gold price today October 23, 2023
At 9:17 a.m. today (October 23, Vietnam time), the world spot gold price stood at around 1,969.4 USD/ounce, down 11.6 USD/ounce compared to the closing price of last weekend's trading session. The price of gold futures for December delivery on the Comex New York floor was at 1,979.7 USD/ounce.
On the morning of October 23 , world gold converted to USD bank price was over 58.6 million VND/tael, excluding tax and fees, about 12.17 million VND/tael lower than domestic gold price.
Gold price today on Kitco closed last week's session at $1,981/ounce. Gold futures price for December closed at $2,008.90/ounce.
Craig Erlam, senior market analyst at OANDA, said gold prices remained on an upward trend as investors continued to flock to gold to protect their assets amid geopolitical risks.
Phillip Streible, chief market strategist at Blue Line Futures in Chicago, said that if the conflict in the Middle East escalates, the price of the precious metal will surpass $2,000 an ounce.
According to statistics, the price of gold has increased by 2.9% and increased by nearly 160 USD since the Israel - Hamas conflict broke out.
Analysts also predict that gold prices will average $1,950 an ounce this year. In addition to geopolitical uncertainty, gold is also supported by many predictions that the US Federal Reserve (Fed) will not raise interest rates further later this year.
According to the forecast of the CME FedWatch tool, the Fed is likely to keep interest rates unchanged at its monetary policy meeting next month.
Spot gold is expected to rise to around $1,998-$2,010 an ounce, as it has broken through a resistance level of $1,972 an ounce, said Reuters technical analyst Wang Tao.
Gold Price Forecast
Thirteen Wall Street analysts participated in the Kitco News gold survey last week. Thirty-one percent of analysts said they expected gold prices to rise in the near term, 46% said they expected gold prices to fall, and 23% said they expected gold prices to remain sideways.
Meanwhile, 105 votes were cast in Kitco’s Investor Reaction Poll, with 72 retail investors, or 69%, expecting gold to rise next week; another 20 investors, or 19%, predict prices will fall; and the remaining 13, or 12%, see the precious metal moving sideways.
Source
Comment (0)