DNVN - Gold prices on October 21, 2024 showed that SJC gold bars continued to move sideways, while gold rings followed the world trend and increased sharply, continuously setting new peaks. The international market in the early morning session recorded an increase compared to the previous closing session.
Gold rings increase sharply, reaching new peak
The price of SJC gold bars remained unchanged, while gold rings continued to increase following the world trend, setting new records. Specifically, the price of SJC gold bars on the market remained around 84-86 million VND/tael (buy - sell), unchanged in both buying and selling compared to the previous session. The difference between buying and selling remained at 2 million VND/tael.
At Doji Group, SJC gold prices in Hanoi and Ho Chi Minh City also remained at the same level, at 84-86 million VND/tael (buy - sell), the difference between buying and selling was 2 million VND/tael. Bao Tin Minh Chau Company also listed SJC gold prices at the same level, unchanged from the previous session.
Meanwhile, units have increased the price of gold rings sharply compared to the previous session. At Bao Tin Minh Chau Company, the Thang Long dragon gold plain round ring is currently at 84.68 - 85.68 million VND/tael (buy - sell), an increase of 160,000 VND/tael in both directions. The difference between buying and selling remains at 1 million VND.
Doji Hung Thinh Vuong 9999 gold rings in Hanoi also increased sharply, with buying and selling prices at 84.7 - 85.7 million VND/tael, an increase of 150,000 VND/tael compared to the previous session. The difference between buying and selling is 1 million VND.
The price of 999.9 plain round gold rings at Phu Quy Company increased more strongly, with the price of 84.85 - 85.85 million VND/tael, an increase of 250,000 VND/tael compared to the previous session, with the buying - selling difference maintained at 1 million VND.
World gold market price
According to Kitco, at 5:00 a.m. Vietnam time, the world spot gold price was recorded at 2,721.31 USD/Ounce, up 2.72 USD/Ounce compared to the previous session. Converted according to the USD exchange rate on the free market (25,360 VND/USD), the world gold price is equivalent to about 84.12 million VND/tael (excluding taxes and fees). Thus, the price of SJC gold bars is about 1.88 million VND/tael higher than the international gold price.
The weekly Kitco News gold survey shows that the majority of experts expect gold prices to continue rising. Colin Cieszynski, chief market strategist at SIA Wealth Management, said that the current rally shows no signs of stopping, despite a lack of positive events for gold. What is unique, he noted, is that gold prices have been rising across all currencies, not just the U.S. dollar, along with the European Central Bank (ECB) cutting interest rates.
Marc Chandler, managing director at Bannockburn Global Forex, said gold remains strong. The rally comes amid a strong dollar and higher U.S. interest rates. Tensions in the Middle East have also contributed to the precious metal’s rise.
Sean Lusk, co-director of commercial hedging at Walsh Trading, said the gold rally was unstoppable. "Whether it's a drop in energy prices or a rise in the dollar, gold is going to keep going up. That shows the strength of gold. Everyone is expecting it to hit $2,770-$2,780," he said.
Cao Thong (t/h)
Source: https://doanhnghiepvn.vn/kinh-te/gia-vang-ngay-21-10-2024-vang-nhan-tiep-da-tang-manh-theo-xu-huong-the-gioi-lap-dinh-moi/20241021075137880
Comment (0)