.jpg "Each tael of gold reversed and decreased by more than 3 million VND.")
.jpg "Bao Tin Manh Hai listed the highest price of round gold rings in Hai Duong, at 100.5 million VND.")
.jpg "Real estate market in the south of Hai Duong city is bustling")
.jpg "Extremely dangerous forest fire risk in Kinh Mon, Chi Linh")
-ac017d3d3ce25d3405471795d6bb26f0.jpg "Gia Loc needs over 10 billion VND to invest in renovating and expanding landfills.")
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On October 7, the price of gold rings was still at its peak, the buying price was 850,000 VND per tael more expensive than gold bars while the selling price was only 400,000 VND away from catching up with SJC gold bars.
Price gold ring Domestic market this morning October 7 has little change.
Opening the morning trading session, Saigon Jewelry Company (SJC) listed the price of gold rings of type 1-5 at only 82-83.3 million VND/tael (buy - sell), unchanged compared to the closing price of the trading session last weekend.
Similarly, Doji Gold and Gemstone Group kept the buying and selling price of gold rings of types 1-5 unchanged at the closing price of last weekend at 82.85-83.6 million VND/tael.
At the beginning of the trading session on October 7, the price of SJC 9999 gold remained unchanged compared to the closing session last weekend, at 84 million VND/tael (selling).
The price of 9999 gold was listed by Saigon Jewelry Company Limited (SJC) at 8:23 and the price of 9999 gold was updated by Doji Jewelry Group at 8:31 as follows:
| Buy | Sell | |
| SJC Ho Chi Minh City | 82,000,000 VND/tael | 84,000,000 VND/tael |
| Doji Hanoi | 82,000,000 VND/tael | 84,000,000 VND/tael |
| Doji Ho Chi Minh City | 82,000,000 VND/tael | 84,000,000 VND/tael |
As of 8:34 a.m. on October 7, The world spot gold price was at 2,649.7 USD/ounce, down 3.3 USD/ounce compared to the end of last week. The gold futures price for December 2024 on the Comex New York floor was at 2,670 USD/ounce.
On the morning of October 7, the world gold price converted to USD bank price was nearly 80.5 million VND/tael, including tax and fees, about 3.5 million VND/tael lower than the domestic gold price.
According to the latest Kitco News weekly gold survey, experts are cautious about the short-term outlook for gold, but developments in the Middle East are supporting gold prices.
David Morrison, senior market analyst at Trade Nation, said the market believes the Federal Reserve will continue to cut interest rates until they fall below 3%. This supports gold prices.
The best reason for the Fed to cut rates is that inflation is under control. The worst reason is that the economy is in recession. But both reasons are bullish for gold.
This expert said that the September consumer price index is economic information that affects gold prices. The market is waiting for information on whether inflation will decrease or not, which will support the Fed's easing cycle. The market is also waiting for the minutes of the Fed's most recent monetary policy meeting.
Gold prices may be poised for a pause after a strong rally over the past two months, with the Chinese market after the holiday break likely to provide a boost, according to Adrian Day, chairman of Adrian Day Asset Management.
The gold market is focused on the tensions in the Middle East. Gold is considered a safe investment channel in times of political instability. Since the beginning of 2024, the price of gold has increased by more than 28% due to concerns about escalating tensions in the Middle East.
VN (according to Vietnamnet)