Domestic gold price on the morning of November 1: SJC gold rings and gold bars "cool down"

DNVN - Following the global gold price decline trend, domestic gold ring and gold bar prices on the morning of November 1 were also adjusted down.

Specifically, at 8:55 a.m., DOJI Gold and Gemstone Group listed the price of gold rings at VND88.25 - 89.25 million/tael (buy - sell), down VND400,000/tael in both buying and selling compared to yesterday's closing session.

Saigon Jewelry Company (SJC) announced the price of gold rings at 87.4 - 89.4 million VND/tael (buy - sell), down 300,000 VND/tael for buying and down 200,000 VND/tael for selling compared to the previous session's close.

Similarly, Saigon Jewelry Company (SJC) listed the price of SJC gold bars at 87.5 - 89.5 million VND/tael (buy - sell), down 500,000 VND/tael in both buying and selling compared to the previous session.

DOJI Gold and Gemstone Group still listed the selling price of SJC gold bars at 88 - 90 million VND/tael (buy - sell), keeping the listed price in both directions unchanged compared to the previous closing price.

Earlier, in the trading session on October 31, the world gold price fell after hitting a record high. However, the demand for safe havens ahead of the US presidential election helped gold record its fourth consecutive month of price increases. At 0:40 a.m. on November 1, Vietnam time, the spot gold price fell 1.6% to $2,740.45/ounce, after reaching a record high of $2,790.15/ounce. The gold futures price closed down 1.8% to $2,749.3/ounce. The gold price has increased about 4% this month.

David Meger, director of metals trading at commodities brokerage High Ridge Futures, said gold prices were trending lower in this session as many investors took profits, in the context of many important events that will impact the gold market next week, including the US election on November 5 and the Fed meeting on November 5-6.

However, gold demand is still driven by fundamental factors such as geopolitical tensions and election uncertainty, keeping the market in a "buy the dip" mode, according to analyst Rhona O'Connell of financial services firm StoneX.

Separately, data showed the US personal consumption expenditures (PCE) price index rose 0.2% in September after rising 0.1% in August, in line with analysts' expectations.

Cao Thong (t/h)

Source: https://doanhnghiepvn.vn/kinh-te/gia-vang-trong-nuoc-sang-1-11-vang-nhan-vang-mieng-sjc-ha-nhiet/20241101103258568