Gold price breaks through the roof

Gold prices continue to break records - Screenshot

Gold prices are skyrocketing

At the end of October 18, the world gold price reached 2,712 USD/ounce, an increase of 19.7 USD/ounce compared to yesterday.

Converted according to the listed exchange rate at the bank, the world gold price is equivalent to 82.85 million VND/tael.

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

In recent days, despite the USD maintaining an upward trend, world gold prices have still broken out to an all-time record.

According to analysts, not only the Fed but many other central banks in the world have entered a cycle of loosening monetary policy. This is the factor that has pushed gold prices to break out.

Recently, many experts predict that gold prices will reach 2,941 USD/ounce in the next 12 months, even reaching 3,000 USD/ounce in 2025.

Investors are now betting on a nearly 91% chance that the Fed will cut interest rates by 0.25% at its next meeting. Others predict that the Fed will not cut interest rates.

Today, SJC Company kept the selling price of SJC gold bars at 86 million VND/tael, buying at 84 million VND/tael.

Banks in the Big 4 group also kept the selling price of gold bars at 86 million VND/tael.

Gold ring price increased shockingly

Meanwhile, the price of gold rings increased dramatically following the increase in world gold prices.

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

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

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

At the current price, the price of 9999 gold rings is only 1.05 million VND/tael different from the price of SJC gold bars.

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