This morning, the price of gold rose, reaching 71 million VND per tael.

Domestic gold prices today

Domestic gold prices surged this morning, reaching around 71 million VND per tael. Currently, the listed prices for gold bars from various brands are as follows:

The price of SJC gold in Hanoi and Da Nang is currently listed at 69.7 million VND/ounce for buying and 70.72 million VND/ounce for selling.

In Ho Chi Minh City, SJC gold is still being bought at the same rate as in Hanoi and Da Nang , but is being sold at a price 20,000 VND lower.

Thus, compared to yesterday afternoon, the price of SJC gold has been adjusted upwards by 200,000 VND for buying and 500,000 VND for selling.

Domestic gold prices this morning (October 15).

DOJI gold prices in Hanoi were adjusted upwards by 250,000 VND for buying and 800,000 VND for selling, reaching 69.6 million VND/ounce for buying and 71 million VND/ounce for selling, respectively.

In Ho Chi Minh City, the buying and selling prices of this branded gold are similar to those in Hanoi, increasing by 200,000 VND on the buying side and 800,000 VND on the selling side compared to yesterday afternoon.

Phu Quy SJC gold bars are currently listed at 69.6 million VND/ounce for buying and 71 million VND/ounce for selling, an increase of 150,000 VND in the buying price and 850,000 VND in the selling price compared to yesterday afternoon.

PNJ gold bars are currently being bought at 69.8 million VND/ounce and sold at 71 million VND/ounce, an increase of 300,000 VND in the buying price and 850,000 VND in the selling price compared to yesterday afternoon.

Meanwhile, Bao Tin Minh Chau adjusted its gold prices upwards by 230,000 VND for buying and 520,000 VND for selling, reaching 69.75 million VND/ounce and 70.7 million VND/ounce respectively.

Today's world gold price

In the final trading session of this week, world gold prices rose by more than $60 per ounce, marking their best week since March.

After hitting a seven-month low last Friday, the precious metal has seen its best weekly gain since mid-March due to increasing safe-haven demand as the Israel-Hamas conflict shows no signs of abating.

Gold prices continue to rise (Illustrative image).

Joseph Cavatoni, North America market strategist at the World Gold Council, believes that, in the current climate of uncertainty, investors will flock to gold.

In addition, the US announcement on Friday that it would tighten sanctions on Russian crude oil exports pushed oil prices back close to $90 a barrel and up nearly 4% on the day.

Some analysts note that if oil prices continue to rise, gold's role as a safe haven against persistent inflation will also increase.

Although inflation will fluctuate this year, according to expert Christopher Vecchio of Tastylive.com, that will not be enough to force the Federal Reserve (Fed) to raise interest rates again.

“The Fed has done its job. We’ve heard from five Fed members that further interest rate hikes are unnecessary. Interest rates have become a secondary factor for gold as investors focus on geopolitical uncertainty. This is fertile ground for gold to rise higher,” Vecchio said.

PHAM DUY

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