Turning around and falling slightly, the outlook remains positive.

Gold prices today, October 30th: Turning around and falling slightly, positive outlook. — Gold prices today, October 30th. Illustration photo: Phan Anh

Domestic gold prices opened today's trading session (October 30) with DOJI Group listing the buying price at 70.05 million VND/ounce and the selling price at 69.95 million VND/ounce.

The difference between the buying and selling price of gold at DOJI is 900,000 VND/ounce.

Compared to yesterday's opening price, the price of gold at DOJI decreased by 50,000 VND/ounce for both buying and selling.

Meanwhile, Saigon Jewelry Company (SJC) listed the buying price of gold at 70 million VND/ounce; the selling price was 70.7 million VND/ounce.

The difference between the buying and selling price of gold at Saigon Jewelry Company (SJC) is 700,000 VND/ounce.

Compared to yesterday's opening price, the price of gold at Saigon Jewelry Company (SJC) decreased by 200,000 VND/ounce for buying and 300,000 VND/ounce for selling.

Although adjusted downwards, the current spread between buying and selling gold in the domestic market remains very high. This could put buyers at risk of losses when investing in the short term.

As of 9:00 AM today, the world gold price, listed on Kitco, is $2,003.8 per ounce. Compared to the opening of the previous trading session, the world gold price has decreased by $1.8 per ounce.

Gold prices remained high, supported by increasing risk aversion amid the ongoing conflict in the Middle East.

The latest weekly gold survey shows retail investors and the majority of market analysts are optimistic about the precious metal, but a small number still expect gold to fall or enter a consolidation phase this week.

Colin Cieszynski, a market strategist at SIA Wealth Management, believes gold will experience significant volatility this week, but he is unsure which direction the price will take. He anticipates another hawkish decision at the Federal Reserve meeting this week.

Cieszynski doesn't believe the Fed is ready to announce it has completed its interest rate hike cycle. He predicts the Fed will keep interest rates unchanged and leave open the possibility of another hike in December.

"The current inflation figures are good enough that they don't need to raise interest rates again, but at the same time, they haven't come down fast enough for them to say we're done," he said.

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