LIVE UPDATE TABLE OF GOLD PRICE TODAY OCTOBER 27 AND EXCHANGE RATE TODAY OCTOBER 27
| 1. PNJ - Updated: October 27, 2023 10:00 - Website supply time - ▼ / ▲ Compared to yesterday. | ||
| Type | Buy | Sell |
| HCMC - PNJ | 58,300 ▲100K | 59,400 ▲100K |
| HCMC - SJC | 70,200 ▲200K | 70,950 ▲200K |
| Hanoi - PNJ | 58,300 ▲100K | 59,400 ▲100K |
| Hanoi - SJC | 70,200 ▲200K | 70,950 ▲200K |
| Da Nang - PNJ | 58,300 ▲100K | 59,400 ▲100K |
| Da Nang - SJC | 70,200 ▲200K | 70,950 ▲200K |
| Western Region - PNJ | 58,300 ▲100K | 59,400 ▲100K |
| Western Region - SJC | 70,200 ▲200K | 70,950 ▲200K |
| Jewelry gold price - PNJ rings (24K) | 58,300 ▲100K | 59,350 ▲100K |
| Jewelry Gold Price - 24K Jewelry | 58,200 ▲50K | 59,000 ▲50K |
| Jewelry Gold Price - 18K Jewelry | 43,000 ▲40K | 44,400 ▲40K |
| Jewelry Gold Price - 14K Jewelry | 33,270 ▲30K | 34,670 ▲30K |
| Jewelry Gold Price - 10K Jewelry | 23,290 ▲20K | 24,690 ▲20K |
Domestic gold prices continue to increase sharply. At the end of the trading session on the afternoon of October 26, the price of SJC gold bars in trading systems increased by 350,000 - 400,000 VND/tael compared to yesterday's session.
At the Hanoi branch and Ho Chi Minh City branch of the Saigon Jewelry Company, the closing price of gold increased by VND350,000/tael in both buying and selling directions compared to the opening price this morning, trading in the range of USD70.05-70.77/ounce.
The price of gold bars at DOJI at the end of the session on October 26 in Hanoi increased by 300 thousand VND/tael in both buying and selling compared to the closing price yesterday, currently trading at 69.95 - 70.75 million VND/tael (buying - selling).
The surprise of the market today is the sharp increase in the price of gold rings, the price of 9999 gold in the country. The price of gold rings of all brands simultaneously reached a historical peak, far exceeding the mark of 59 million VND/tael. The difference between the buying and selling prices is between 800 thousand VND and 1.1 million VND/tael. Compared to the beginning of the year, the price of 99999 gold has increased by about 5.15 million VND/tael.
At Saigon Jewelry Company, the price of gold rings and 9999 gold has increased by half a million VND/tael in both buying and selling compared to yesterday's closing price, currently trading at 58.35 - 59.35 million VND/tael.
The price of 9999 gold, the jewelry gold price of Doji Group also increased far beyond the mark of 59 million VND/tael (selling), currently listed at 58.65-59.45 million VND/tael (buying - selling).
The world gold price fluctuates, increasing and decreasing mainly due to the high demand for this commodity as a shelter from the storm, despite the positive signals from the US economy. The world economy is forecast to be unstable after unpredictable geopolitical fluctuations and a changing world order.
The Russia-Ukraine and Hamas-Israel conflicts have created uncertainty and risk aversion in the markets for investors. Therefore, many people seek low-risk assets such as gold and the US dollar. Gold also increased because the commodity closely related to gold, oil, returned to an upward trend.
According to TG&VN , at 9:30 p.m. on October 26 (Vietnam time), the world gold price traded on Kitco was at 1,973.50 USD/ounce, down 6.9 USD compared to the previous session. The price of gold for December delivery last decreased 7.60 USD to 1,987.30 USD/ounce.
The world gold price converted to the current USD exchange rate at Vietcombank is nearly 59.5 million VND/tael (excluding taxes and fees), 11.27 million VND/tael lower than the price of SJC gold bars.
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| Gold price today October 27, 2023: Gold price increased sharply, conquering the threshold of 2,000 USD, 9999 gold price set a new peak. (Source: Shutterstock) |
Summary of SJC gold prices at major domestic trading brands at the closing time of October 26:
Saigon Jewelry Company listed the price of SJC gold at 70.05 - 70.77 million VND/tael.
Doji Group currently lists SJC gold price at: 69.95 - 70.75 million VND/tael.
Phu Quy Group currently lists the price of SJC gold at: 69.95 - 70.75 million VND/tael.
PNJ system listed at: 70.00 - 70.75 million VND/tael.
SJC gold price at Bao Tin Minh Chau is listed at 70.05 - 70.73 million VND/tael; Rong Thang Long gold brand is traded at 58.73 - 59.68 million VND/tael; jewelry gold price is traded at 58.30 - 59.50 million VND/tael.
Can instability push gold prices up quickly?
The US Bureau of Economic Analysis (BEA) has just released GDP data for the third quarter of 2023 showing that the US economy, the world's largest economy, grew by 4.9%, higher than economists' expectations of 4.3% and much higher than the final estimate of the second quarter. 2.1%.
Gold markets sold off on better-than-expected GDP data and prices are trading near session lows.
Nearly three weeks after Hamas' October 7 attack on Israel, this Middle East hotspot is believed to be able to prolong and destabilize the region considered the "oil navel", thereby dealing a serious blow to global economic development.
Geopolitical concerns are unlikely to go away anytime soon. The conflict in the Gaza Strip continues despite international calls for a ceasefire, and this will certainly continue to support gold prices. As a result, oil prices could rise to record highs, pushing inflation higher and slowing global economic growth.
Crude oil prices are forecast to rise to $150 a barrel. Global inflation is likely to rise to 6.7% in 2024.
Meanwhile, the US economy grew well in the third quarter at its fastest pace in nearly two years. The US Federal Reserve clearly sees higher interest rates as a way to control interest rates. Analysts say there is nothing that can stop the Fed from raising interest rates again because the US economy is quite strong.
If the data shows a slowdown, it will give the Fed more reason to hold off on raising interest rates, which would be a huge boost for gold and send the precious metal back above $2,000 an ounce.
Gold prices are always sensitive to US interest rate adjustments. Higher interest rates will strengthen the USD, but will significantly reduce the attractiveness of non-yielding assets such as gold. However, in the short term, gold is under pressure from a still-strong USD.
China's gold consumption in the first three quarters of 2023 increased 7.32% from a year earlier due to growing demand amid economic recovery, the China Gold Association also said.
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