Gold prices break new highs.

Gold prices continue to break records - Screenshot

Gold prices are soaring.

By the end of October 18th, the price of gold in the world market briefly touched $2,712 per ounce, an increase of $19.7 per ounce compared to the previous day.

Based on the exchange rate listed at the bank, the world gold price is equivalent to 82.85 million VND per tael.

Thus, in just this year, world gold prices have increased by more than 30% due to a series of related events such as the US Federal Reserve (Fed) lowering interest rates, uncertainties surrounding the upcoming US election, geopolitical tensions in the Middle East, and the net buying trend of gold by central banks.

In recent days, despite the US dollar maintaining its upward trend, world gold prices have surged to an all-time record high.

According to analysts, not only the Fed but many other central banks around the world have entered a cycle of monetary policy easing. This is a factor driving the surge in gold prices.

Recently, many experts have predicted that the price of gold will reach $2,941 per ounce in the next 12 months, and even touch $3,000 per ounce in 2025.

Investors are currently betting on a near 91% probability that the Fed will cut interest rates by 0.25% at its next meeting. Others predict a lower probability of the Fed cutting rates.

Today, SJC Company maintained the selling price of SJC gold bars at 86 million VND/ounce and the buying price at 84 million VND/ounce.

The banks in the Big4 group also maintained the selling price of gold bars at 86 million VND/ounce.

Gold ring prices surge dramatically.

Meanwhile, the price of gold rings has surged dramatically, following the upward trend in global gold prices.

SJC company listed the selling price of 9999 gold rings at 84.95 million VND/ounce, and the buying price at 83.85 million VND/ounce. The difference between the buying and selling price is 1.1 million VND/ounce.

At Bao Tin Minh Chau Company, the selling price of gold rings increased sharply, reaching a record high of 85.52 million VND/ounce. The buying price also increased correspondingly, to 84.52 million VND/ounce.

Meanwhile, DOJI increased the selling price of 9999 gold rings to 85.55 million VND/ounce. The buying price increased to 84.55 million VND/ounce.

At current prices, the price of 9999 gold rings is only 1.05 million VND/ounce higher than the price of SJC gold bars.

Source: https://tuoitre.vn/gia-vang-pha-thung-noc-20241018180026934.htm