SJC gold bar price increased dramatically, up to 88 million VND/tael - Photo: NGOC PHUONG
The price difference between SJC gold bars and gold rings increases.
Thus, the price of SJC gold bars is approaching the all-time record of 92 million VND/tael set on May 10.
This morning, the world gold price reached 2,729 USD/ounce, up more than 7 USD/ounce compared to the end of the trading week and officially setting a new record.
At the current price, converted according to the listed exchange rate at the bank, the world gold price is equivalent to 83.4 million VND/tael.
The increase in world gold prices has caused the selling price of SJC gold bars at SJC Company and 4 banks in the Big 4 group to increase by 2 million VND/tael, to 88 million VND/tael.
Gold ring prices also continue to rise.
SJC Company increased the selling price of 9999 gold rings by 300,000 VND/tael, to 85.7 million VND/tael, and the buying price also increased by 400,000 VND/tael, to 84.4 million VND/tael. The difference between buying and selling prices decreased to 1.3 million VND/tael.
At Bao Tin Minh Chau Company, the selling price of gold rings remains high: selling at 85.68 million VND/tael, buying at 84.68 million VND/tael.
DOJI also kept the selling price of 9999 gold rings at 85.7 million VND/tael. The buying price was at 84.7 million VND/tael.
At the current price, the difference between the price of 9999 gold rings and the price of SJC gold bars has increased to 2.3 million VND/tael from 300,000 - 600,000 VND/tael last weekend.
What do investors predict about gold prices?
Just last week, the world gold price increased by about 2.4%. The converted gold price also increased by 3.2 million VND/tael due to the double impact of the strong increase in the world gold price and the increase in the USD/VND exchange rate.
Additionally, news of tensions in the Middle East and the European Central Bank (ECB) cutting interest rates for the third time this year have further supported gold prices.
In the US financial market, investors are leaning towards the possibility of former President Donald Trump being re-elected. This information also resonates to contribute to pushing up gold prices.
Recently, many experts predicted that the price of gold will reach 2,941 USD/ounce in the next 12 months, even reaching 3,000 USD/ounce in 2025.
Investors are now betting on a nearly 91% chance that the US Federal Reserve will cut interest rates by 0.25% at its next meeting. Others predict that the Fed will not cut interest rates.
Source: https://tuoitre.vn/gia-vang-mieng-sjc-tang-soc-len-88-trieu-dong-luong-20241021095135824.htm
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