Gold price up to 153 million VND/tael

On the afternoon of October 17, the price of SJC gold bars reached 153 million VND/tael. The price fluctuation range is very wide.

Demand for gold increased as gold prices continuously increased in recent days - Photo: THANH HIEP

Gold bar price increased by 3.9 million VND/tael after one day

Opening this morning, October 17, the selling price of SJC gold bars increased to 152.2 million VND/tael, buying at 150.2 million VND/tael. However, immediately after that, the price dropped to 150.9 million VND/tael (selling) and 149.4 million VND/tael (buying).

From noon on October 17, the price of SJC gold bars began to recover strongly and is currently at 153 million VND/tael (sell) and 151.5 million VND/tael (buy).

Thus, compared to the end of October 16, the gold price has increased by 3.9 million VND/tael. In the past half month, the increase is 18 million VND/tael. This is also an increase beyond the expectations of many investors.

It is noteworthy that due to limited supply, gold companies tend to narrow the gap between buying and selling prices to stimulate purchasing power. Currently, the buying price of SJC gold bars is only 1.5 million VND/tael lower than the selling price, while the previous difference was 2 million VND/tael.

The price of 9999 gold rings also increased very quickly and closely followed the increase in the price of SJC gold bars and is currently at 152.2 million VND/tael (sell) and 150 million VND/tael (buy). Compared to the end of yesterday, the price of SJC gold bars has increased by 2.29 million VND/tael.

In recent days, the price of 9999 gold rings has always increased faster than the price of SJC gold bars.

Meanwhile, the world gold price has been increasing continuously, at one point reaching 4,380 USD/ounce before turning down to 4,334.7 USD/ounce at 2:45 p.m. today.

Converted according to the listed exchange rate at the bank, the world gold price is equivalent to 137.7 million VND/tael.

Compared to the converted world gold price, the price of SJC gold bars is 15.3 million VND/tael higher, and the price of gold rings is 14.5 million VND/tael higher.

The price of 9999 gold rings at Bao Tin Minh Chau is up to 159 million VND/tael

Currently, the price of gold in the free market as well as the price of gold between brands is very different. For example, at Bao Tin Minh Chau Company, the selling price of 9999 gold rings is up to 159 million VND/tael, the buying price is 156 million VND/tael.

At Bao Tin Minh Chau Company, gold prices have only been increasing since this morning regardless of the decline in world gold prices.

World gold prices have nearly surpassed the historical mark of 4,200 USD/ounce and 4,300 USD/ounce in just two days due to investors' expectations that the US Federal Reserve (Fed) will lower interest rates this month and a wave of seeking safe assets after trade tensions between the US and China broke out.

The upward trend of world gold prices was maintained and strengthened after the speech of the Chairman of the US Federal Reserve (Fed) Jerome Powell. Mr. Powell said that the US labor market is in a state of "low hiring, low firing", and this weakness could mean that the Fed is likely to continue to lower interest rates in the near future. In addition, Mr. Powell also said that the Fed may soon stop the quantitative tightening program.

The demand for holding gold as a hedge against risks is also related to the US government shutdown, which has now entered its third consecutive week.

A prolonged government shutdown could have negative impacts on the economy , and cause delays in the release of important economic data.

The market is now expecting the Fed to cut interest rates by 0.25% at its meeting this month and again in December 2025. This expectation has prompted investors to buy gold because it is expected that gold prices will continue to rise.

According to data from the World Gold Council (WGC), demand for gold investment through ETFs increased by a record 221.7 tons, equivalent to an increase of nearly 26 billion USD in the third quarter of this year.

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Source: https://tuoitre.vn/gia-vang-len-153-trieu-dong-luong-20251017150350344.htm