DNVN - In the context of the world gold price remaining at a record high, the domestic gold price on the morning of October 25 continued to remain stable. As of 9:00 a.m., DOJI Gold and Gemstone Group announced the ring gold price with the buying and selling price of 88 - 89 million VND/tael, remaining unchanged compared to the closing price of the previous session.
Illustrative photo. Photo: VNA
Phu Nhuan Jewelry Joint Stock Company (PNJ) also kept the listed price of gold rings at 87.6 - 88.9 million VND/tael, unchanged from yesterday's closing price in both buying and selling directions.
For SJC gold bars, because the State Bank has not yet adjusted the price, Saigon Jewelry Company (SJC) continues to keep the price at 87 - 89 million VND/tael (buy - sell), no change compared to this morning's trading session.
Similarly, DOJI Gold and Gemstone Group also listed the price of SJC gold bars at 87 - 89 million VND/tael (buy - sell), keeping the same price as the previous session in the morning.
Thus, as of today, October 25, the domestic price of gold bars and gold rings remains stable, with the selling price reaching VND89 million/tael, equal to the closing price yesterday. Previously, plain gold rings had continuously increased in price for 10 consecutive days. Compared to the beginning of the year, the price of gold rings has increased by VND25 million/tael, equivalent to an increase of 40%.
On the world market, gold prices on October 24 increased by nearly 1%, approaching a record high as demand for safe havens increased due to the prolonged geopolitical instability.
At 0:40 a.m. on October 25, Vietnam time, the spot gold price increased by 0.7% to $2,735.55/ounce, after leaving the peak of $2,758.37/ounce recorded on October 23. The US gold futures contract also closed up 0.7% to $2,748.9/ounce.
“Gold continues to be seen as a safe haven amid continued inflation pressures,” said David Meger, director of metals trading at High Ridge Futures. “In addition, safe-haven demand and strong investment flows continue to support gold prices. Concerns about the US election are also supporting the gold market as investors are feeling the risks ahead of the election.”
Speculation that central banks will continue to maintain loose monetary policies, coupled with gold's traditional role as a hedge against economic and political uncertainty, has pushed gold prices up more than 32% so far in 2024, setting successive record highs.
Concerns about the US debt situation are also boosting gold's appeal to investors, according to ANZ.
Cao Thong (t/h)
Source: https://doanhnghiepvn.vn/kinh-te/gia-vang-trong-nuoc-tiep-tuc-on-dinh-o-muc-89-trieu-dong-luong/20241025025148724
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