SJC gold prices plummet rapidly.

Domestic gold prices today, October 25, 2023

In the early afternoon of October 25th , the price of 9999 gold from SJC decreased by 250,000 VND/ounce for both buying and selling compared to the beginning of the morning.

The price of 9999 gold was updated by Saigon Jewelry Company Limited (SJC) at 13:26 and the price of 9999 gold was listed by DOJI Gold and Jewelry Group at 13:32 as follows:

	Buy	Sell
SJC Hanoi	69,650,000 VND/ounce	70,370,000 VND/ounce
SJC Ho Chi Minh City	69,650,000 VND/ounce	70,350,000 VND/ounce
SJC Da Nang	69,650,000 VND/ounce	70,370,000 VND/ounce
DOJI Hanoi	69,600,000 VND/ounce	70,400,000 VND/ounce
DOJI Ho Chi Minh City	69,650,000 VND/ounce	70,350,000 VND/ounce

Gold price chart for SJC and DOJI updated early afternoon, October 25th.

Early this morning, October 25th , the price of 9999 gold from SJC remained unchanged compared to yesterday's closing price.

The price of 9999 gold was updated by Saigon Jewelry Company Limited (SJC) at 8:27 AM and the price of 9999 gold was listed by DOJI Gold and Jewelry Group at 8:37 AM as follows:

	Buy	Sell
SJC Hanoi	69,900,000 VND/ounce	70,620,000 VND/ounce
SJC Ho Chi Minh City	69,900,000 VND/ounce	70,600,000 VND/ounce
SJC Da Nang	69,900,000 VND/ounce	70,620,000 VND/ounce
DOJI Hanoi	69,850,000 VND/ounce	70,650,000 VND/ounce
DOJI Ho Chi Minh City	69,900,000 VND/ounce	70,600,000 VND/ounce

Updated gold prices for SJC and DOJI at the beginning of the morning of October 25th.

At the close of trading on October 24th, the domestic price of 9999 gold was listed by SJC and DOJI Gold and Gemstone Group as follows (buying and selling prices):

SJC Hanoi: 69,900,000 VND/ounce - 70,600,000 VND/ounce
DOJI Hanoi: 69,850,000 VND/ounce - 70,650,000 VND/ounce
SJC Ho Chi Minh City: 69,900,000 VND/ounce - 70,620,000 VND/ounce
DOJI Ho Chi Minh City: 69,950,000 VND/ounce - 70,650,000 VND/ounce

The central exchange rate for October 25, 2023 , announced by the State Bank of Vietnam, is 24,087 VND/USD, a decrease of 10 VND compared to yesterday. The USD price at commercial banks this morning (October 25) is trading around 24,360 VND/USD (buying) and 24,730 VND/USD (selling).

International gold prices today, October 25, 2023

At 9:14 AM today (October 25th, Vietnam time), the spot price of gold in the world market stood around $1,975.9 per ounce, an increase of $12.9 per ounce compared to last night. The price of December gold futures on the Comex New York exchange was $1,986.9 per ounce.

International gold price fluctuations over the past 24 hours (Image: Kitco)

On the night of October 24th (Vietnam time), the spot price of gold on the world market stood around $1,963 per ounce. Gold futures for December delivery on the Comex New York exchange were at $1,981 per ounce.

World gold prices on the night of October 24th were approximately 7.6% higher (US$139/ounce) than at the beginning of 2023. Converted using the bank's USD exchange rate, world gold was priced at VND 59.1 million/ounce, including taxes and fees, which is about VND 11.6 million/ounce lower than domestic gold prices as of the end of the trading session on October 24th.

Selling pressure increased after gold experienced a sharp rise. Investors took profits as the US dollar showed signs of strengthening again.

However, precious metals are being supported by geopolitical instability and the decline of many high-risk assets such as stocks, amid numerous challenges facing the global economy.

Gold prices cooled down slightly today. (Photo: HH)

Most Asian and European stock markets are experiencing unpredictable movements as the economies of these countries still lack clear positive signs.

This week, the Israel-Hamas conflict has not seen any significant escalation.

What market observers are most concerned about is the instability occurring in many regions of the world. The United States is having difficulty stabilizing the situation in several areas, including the Middle East.

Gold price forecast

Instability in these regions could disrupt global supply chains, as happened after the Russia-Ukraine conflict erupted. Inflation could rise again and become difficult to control, as it did in Europe and around the world after Russia and Ukraine fell into a severe crisis.

The Israeli-Hamas peace summit on Gaza, hosted by Egypt, concluded without reaching a solution to the current tensions. The reason is believed to stem from differing viewpoints among the parties involved.

The prices of many high-risk assets, such as stocks, may fall. Meanwhile, safe-haven assets like the US dollar and gold may rise sharply.

Gold prices continue to trend upwards as most observers believe that instability in the Middle East is likely to escalate rapidly and shake the market.

Source: https://vietnamnet.vn/gia-vang-hom-nay-25-10-2023-vang-sjc-lao-doc-nhanh-2206281.html