Gold price today October 17, 2024: World gold price increases strongly again
Gold price today October 17, 2024: World gold prices increased strongly again, causing the price of 9999 gold rings to increase even more strongly, creating a record of over 84 million VND/tael. Gold bar prices also broke through to reach 86 million VND/tael.
Domestic gold price today October 17, 2024
At the time of survey at 5:00 a.m. on October 17, 2024, the gold price on the trading floors of some companies was as follows:
The price of 9999 gold today is listed by DOJI at 83.35 million VND/tael for buying and 84.35 million VND/tael for selling. Compared to yesterday, the price of DOJI gold rings increased sharply by 400 thousand VND/tael for buying - increased by 500 thousand VND/tael for selling.
At Mi Hong Jewelry Company, the price of Mi Hong gold at the time of survey was listed at 85-86 million VND/tael (buy in - sell out). The price of Mi Hong SJC gold bars increased sharply by 1-1.5 million VND/tael for buying in - selling out compared to yesterday.
The price of SJC gold at Bao Tin Minh Chau Company Limited was also traded by the enterprise at 84-86 million VND/tael (buying - selling). The price of SJC gold bars at Bao Tin Minh Chau increased sharply by 1 million VND/tael for buying - selling compared to yesterday.
At Bao Tin Manh Hai, it is being traded at 84-86 million VND/tael (buy in - sell out). The price of SJC gold bars in Bao Tin Manh Hai increased sharply by 1 million VND/tael for buying in - selling out compared to yesterday.
The latest gold price list today, October 17, 2024 is as follows:
| Gold price today | October 17, 2024 (Million VND) | Difference (thousand dong/tael) | ||
| Buy | Sell out | Buy | Sell out | |
| SJC in Hanoi | 84 | 86 | +1,000 | +1,000 |
| DOJI Group | 84 | 86 | +1,000 | +1,000 |
| Mi Hong | 84 | 86 | +1,000 | +1,500 |
| PNJ | 84 | 86 | +1,000 | +1,000 |
| Vietinbank Gold | 86 | - | +1,000 | |
| Bao Tin Minh Chau | 84 | 86 | +1,000 | +1,000 |
| Bao Tin Manh Hai | 84 | 86 | +1,000 | +1,000 |
| 1.DOJI- Updated: 10/17/2024 05:10 - Source website time - ▼/▲ Compared to yesterday. | ||
| Type | Buy | Sell out |
| AVPL/SJC HN | 84,000▲1000K | 86,000▲1000K |
| AVPL/SJC HCM | 84,000▲1000K | 86,000▲1000K |
| AVPL/SJC DN | 84,000▲1000K | 86,000▲1000K |
| Raw material 9999 - HN | 83,050▲200K | 83,450▲300K |
| Raw materials 999 - HN | 82,950▲200K | 83,350▲300K |
| AVPL/SJC Can Tho | 84,000▲1000K | 86,000▲1000K |
| 2.PNJ- Updated: 10/17/2024 05:10 - Source website time - ▼/▲ Compared to yesterday. | ||
| Type | Buy | Sell out |
| HCMC - PNJ | 83,150▲350K | 84,150▲350K |
| HCMC - SJC | 84,000▲1000K | 86,000▲1000K |
| Hanoi - PNJ | 83,150▲350K | 84,150▲350K |
| Hanoi - SJC | 84,000▲1000K | 86,000▲1000K |
| Da Nang - PNJ | 83,150▲350K | 84,150▲350K |
| Da Nang - SJC | 84,000▲1000K | 86,000▲1000K |
| Western Region - PNJ | 83,150▲350K | 84,150▲350K |
| Western Region - SJC | 84,000▲1000K | 86,000▲1000K |
| Jewelry gold price - PNJ | 83,150▲350K | 84,150▲350K |
| Jewelry gold price - SJC | 84,000▲1000K | 86,000▲1000K |
| Jewelry gold price - Southeast | PNJ | 83,150▲350K |
| Jewelry gold price - SJC | 84,000▲1000K | 86,000▲1000K |
| Jewelry gold price - Jewelry gold price | PNJ 999.9 Plain Ring | 83,150▲350K |
| Jewelry gold price - Jewelry gold 999.9 | 83,000▲300K | 83,800▲300K |
| Jewelry gold price - 999 jewelry gold | 82,920▲300K | 83,720▲300K |
| Jewelry gold price - 99 jewelry gold | 82,060▲290K | 83,060▲290K |
| Jewelry gold price - 916 gold (22K) | 76,360▲270K | 76,860▲270K |
| Jewelry gold price - 750 gold (18K) | 61,600▲220K | 63,000▲220K |
| Jewelry gold price - 680 gold (16.3K) | 55,730▲200K | 57,130▲200K |
| Jewelry gold price - 650 gold (15.6K) | 53,220▲190K | 54,620▲190K |
| Jewelry gold price - 610 gold (14.6K) | 49,870▲180K | 51,270▲180K |
| Jewelry gold price - 585 gold (14K) | 47,770▲170K | 49,170▲170K |
| Jewelry gold price - 416 gold (10K) | 33,610▲120K | 35,010▲120K |
| Jewelry gold price - 375 gold (9K) | 30,180▲120K | 31,580▲120K |
| Jewelry gold price - 333 gold (8K) | 26,400▲90K | 27,800▲90K |
| 3. SJC - Updated: October 17, 2024 05:10 - Website time of supply - ▼/▲ Compared to yesterday. | ||
| Type | Buy | Sell out |
| SJC 1L, 10L, 1KG | 84,000▲1000K | 86,000▲1000K |
| SJC 5c | 84,000▲1000K | 86,030▲1000K |
| SJC 2c, 1C, 5 phan | 84,000▲1000K | 86,020▲990K |
| SJC 99.99 gold ring 1 chi, 2 chi, 5 chi | 82,600▲700K | 84,000▲700K |
| SJC 99.99 gold ring 0.3 chi, 0.5 chi | 82,600▲700K | 83,900▲500K |
| 99.99% Jewelry | 82,500▲700K | 83,600▲600K |
| 99% Jewelry | 80,772▲594K | 82,772▲594K |
| Jewelry 68% | 54,503▲408K | 57,003▲408K |
| Jewelry 41.7% | 32,514▲250K | 35,014▲250K |
World gold price today October 17, 2024 and world gold price fluctuation chart in the past 24 hours
According to Kitco, the world gold price recorded at 5:00 a.m. today, Vietnam time, was 2,683.62 USD/Ounce. Today's gold price increased by 31.8 USD/Ounce compared to yesterday. Converted according to the USD exchange rate, on the free market (25,350 VND/USD), the world gold price is about 82.95 million VND/tael (excluding taxes and fees). Thus, the price of SJC gold bars is 3.04 million VND/tael higher than the international gold price.
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Currently, due to the high demand for gold while the available gold is low, the domestic gold ring price continuously sets new records. The increase in the price of gold rings reflects the optimism of the international gold market, pushing the price of gold rings to an unprecedented high.
Although the world gold price has not surpassed the record of 2,685 USD on September 26, the domestic gold ring price has set new records for both buying and selling.
Every time the world gold price increases, the domestic gold ring price not only increases but also increases dramatically, setting a new price level and affirming its important role in the current investment market.
World gold prices began to rise again as US bond yields fell, causing investors to wait for new information on the Fed's monetary policy.
US 10-year bond yields fell after manufacturing in New York declined, boosting the appeal of gold, while the dollar eased slightly. “We’re seeing yields fall a little bit as bond prices rise. That gives a little stability, a little support to the gold market,” said David Meger of High Ridge Futures.
The CME FedWatch tool shows investors are 90% convinced rates will be cut by 25 basis points in November.
The market is awaiting data on US retail sales, industrial production data and jobless claims due soon.
Gold prices also rose amid economic and political uncertainty. Commerzbank said that if Israel did not attack Iran's oil and nuclear facilities, geopolitical risks would decrease and support for gold prices would also decrease.
Gold price forecast
Florian Grummes of Midas Touch Consulting believes that gold prices will rebound after a period of decline. He predicts that gold prices could fall to $2,585 to $2,550 an ounce before rising again.
Central banks around the world continue to view gold as an important part of their reserve plans. Gold is considered a diversified and safe investment asset in times of political and economic uncertainty.
At the LBMA conference in Miami, central banks from Mexico, Mongolia and the Czech Republic pledged to continue holding and possibly increase their gold holdings.
Central bank demand for gold has helped stabilize gold prices during the high-interest-rate period from 2022 to 2023. Although gold prices are expected to rise 28% in 2024, some central banks have paused gold purchases.
Central banks have their own reasons for holding gold: Mongolia sees it as a safe haven asset, the Czech Republic sees it as a diversifier, and Mexico sees it as a hedge against instability.
