SJC gold decreased by 200 thousand VND/tael

Domestic gold price today October 24, 2023

Early afternoon on October 24 , today's SJC 9999 gold price decreased by 100 thousand VND/tael in both buying and selling compared to early morning.

The price of 9999 gold was updated by Saigon Jewelry Company Limited (SJC) at 15:08 and the price of 9999 gold was listed by DOJI Jewelry Group at 14:32 as follows:

	Buy	Sell
SJC Hanoi	69,900,000 VND/tael	70,620,000 VND/tael
SJC HCMC	69,900,000 VND/tael	70,600,000 VND/tael
SJC Danang	69,900,000 VND/tael	70,620,000 VND/tael
DOJI Hanoi	69,850,000 VND/tael	70,650,000 VND/tael
DOJI HCMC	69,950,000 VND/tael	70,650,000 VND/tael

SJC and DOJI gold price list updated early afternoon October 24

Early morning of October 24 , SJC gold price 9999 today decreased by 100 thousand VND/tael in both buying and selling compared to the close of yesterday's session.

The price of 9999 gold was updated by Saigon Jewelry Company Limited (SJC) at 8:28 a.m. and the price of 9999 gold was listed by DOJI Jewelry Group at 8:51 a.m. as follows:

	Buy	Sell
SJC Hanoi	70,000,000 VND/tael	70,720,000 VND/tael
SJC HCMC	70,000,000 VND/tael	70,700,000 VND/tael
SJC Danang	70,000,000 VND/tael	70,720,000 VND/tael
DOJI Hanoi	69,950,000 VND/tael	70,800,000 VND/tael
DOJI HCMC	70,000,000 VND/tael	70,700,000 VND/tael

SJC and DOJI gold price list updated early morning October 24

At the end of the session on October 23, the price of 9999 gold bars at SJC Ho Chi Minh City was 70.1 million VND/tael (buy) and 70.8 million VND/tael (sell). SJC Hanoi listed at 70.1 million VND/tael (buy) and 70.82 million VND/tael (sell).

DOJI Hanoi listed at 69.95 million VND/tael (buy) and 70.8 million VND/tael (sell). DOJI Ho Chi Minh City bought SJC gold at 70 million VND/tael and sold at 70.8 million VND/tael.

The central exchange rate on October 24, 2023 announced by the State Bank is 24,097 VND/USD, an increase of 7 VND compared to yesterday. The USD price at commercial banks this morning (October 24) was traded around 24,390 VND/USD (buy) and 24,760 VND/USD (sell).

International gold price today October 24, 2023

At 9:12 a.m. today (October 24, Vietnam time) , the world spot gold price stood at around 1,976.6 USD/ounce, down 13.3 USD/ounce compared to last night. The price of gold futures for December delivery on the Comex New York floor was at 1,987.4 USD/ounce.

On the morning of October 24 , world gold converted to USD bank price was 59 million VND/tael, excluding tax and fees, about 11.72 million VND/tael lower than domestic gold price.

Today's gold price on Kitco at 9:00 p.m. on October 23 (Vietnam time) was at $1,989.9/ounce. The December gold futures price was at $1,985.9/ounce.

gold price today.jpeg — *Gold prices fell slightly at the beginning of the trading session in the US. (Photo: Kitco)*

World gold prices fell slightly at the beginning of the trading session on October 23 (US time) due to the highest price pressure in more than 3 months, causing investors to prepare to buy at any time when gold prices begin to fall sharply.

Daniel Pavilonis, senior commodities broker at RJO Futures, outlined two scenarios for gold prices in the near term. He said that if the conflict in the Middle East escalates, gold will move higher. Conversely, if the situation shows signs of easing, gold will fall. However, he is leaning towards a bullish scenario this week.

Sharing the same view, Darin Newsom, senior market analyst at Barchart.com, sees gold prices rising further in the coming time as gold continues to be a safe haven amid developments in the Middle East.

Mark Leibovit, publisher of VR Metals/Resource Letter, is also optimistic that gold will surpass $2,000 an ounce this week.

The gold market is reacting appropriately to the new developments in the conflict, said Adam Button, chief currency strategist at Forexlive.com.

Gold Price Forecast

However, Ole Hansen, commodity strategist at Saxo Bank, predicts a fall in prices, not because the gold rally is over, but because of the possibility of a profit-taking sell-off by investors, he said.

Marc Chandler, CEO of Bannockburn Global Forex, also predicted that gold prices will be difficult to predict between now and the end of the week. Chandler said that gold prices could quickly jump to $2,000/ounce and then fall to $1,950/ounce due to investors' profit-taking psychology.

Forex.com senior market strategist James Stanley also predicts a decline in gold. He explains that gold has rallied too quickly over the past two weeks, so profit-taking could be triggered this week.

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