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Gold price today October 17, 2024: World gold price increases strongly again

Hung Cuong DNUM_BHZBAZCACE 05:45

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. The price of gold bars 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:

DOJI listed the price of 9999 gold today 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 - sell). The price of Mi Hong SJC gold bars increased sharply by 1-1.5 million VND/tael for buy - sell 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 (buy - sell). The price of SJC Bao Tin Minh Chau gold bars 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 Bao Tin Manh Hai gold bars increased sharply by 1 million VND/tael for buying in - selling out compared to yesterday.

Giá vàng hôm nay 17/10/2024: Vàng thế giới tăng mạnh trở lại

The latest gold price list today, October 17, 2024 is as follows:

Gold price today
October 17, 2024
(million dong)
Difference
(thousand dong/tael)
Buy
Sell
Buy
Sell
SJC in Hanoi
84
86
+1,000+1,000
DOJI Group
84
86
+1,000
+1,000
Red Eyelashes
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.
TypeBuySell
AVPL/SJC HN84,000▲1000K86,000▲1000K
AVPL/SJC HCM84,000▲1000K86,000▲1000K
AVPL/SJC DN84,000▲1000K86,000▲1000K
Raw material 9999 - HN83,050▲200K83,450▲300K
Raw material 999 - HN82,950▲200K83,350▲300K
AVPL/SJC Can Tho84,000▲1000K86,000▲1000K
2.PNJ- Updated: 10/17/2024 05:10 - Source website time - ▼/▲ Compared to yesterday.
TypeBuySell
HCMC - PNJ83,150▲350K84,150▲350K
HCMC - SJC84,000▲1000K86,000▲1000K
Hanoi - PNJ83,150▲350K84,150▲350K
Hanoi - SJC84,000▲1000K86,000▲1000K
Da Nang - PNJ83,150▲350K84,150▲350K
Da Nang - SJC84,000▲1000K86,000▲1000K
Western Region - PNJ83,150▲350K84,150▲350K
Western Region - SJC84,000▲1000K86,000▲1000K
Jewelry gold price - PNJ83,150▲350K84,150▲350K
Jewelry gold price - SJC84,000▲1000K86,000▲1000K
Jewelry gold price - SoutheastPNJ83,150▲350K
Jewelry gold price - SJC84,000▲1000K86,000▲1000K
Jewelry gold price - Jewelry gold pricePNJ 999.9 Plain Ring83,150▲350K
Jewelry gold price - Jewelry gold 999.983,000▲300K83,800▲300K
Jewelry gold price - Jewelry gold 99982,920▲300K83,720▲300K
Jewelry gold price - Jewelry gold 9982,060▲290K83,060▲290K
Jewelry gold price - 916 gold (22K)76,360▲270K76,860▲270K
Jewelry gold price - 750 gold (18K)61,600▲220K63,000▲220K
Jewelry gold price - 680 gold (16.3K)55,730▲200K57,130▲200K
Jewelry gold price - 650 gold (15.6K)53,220▲190K54,620▲190K
Jewelry gold price - 610 gold (14.6K)49,870▲180K51,270▲180K
Jewelry gold price - 585 gold (14K)47,770▲170K49,170▲170K
Jewelry gold price - 416 gold (10K)33,610▲120K35,010▲120K
Jewelry gold price - 375 gold (9K)30,180▲120K31,580▲120K
Jewelry gold price - 333 gold (8K)26,400▲90K27,800▲90K
3. SJC - Updated: 10/17/2024 05:10 - Time of the source website - ▼/▲ Compared to yesterday.
TypeBuySell
SJC 1L, 10L, 1KG84,000▲1000K86,000▲1000K
SJC 5c84,000▲1000K86,030▲1000K
SJC 2c, 1c, 5c84,000▲1000K86,020▲990K
SJC 99.99 gold ring 1 chi, 2 chi, 5 chi82,600▲700K84,000▲700K
SJC 99.99 gold ring 0.3 chi, 0.5 chi82,600▲700K83,900▲500K
Jewelry 99.99%82,500▲700K83,600▲600K
Jewelry 99%80,772▲594K82,772▲594K
Jewelry 68%54,503▲408K57,003▲408K
Jewelry 41.7%32,514▲250K35,014▲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.

Currently, due to the high demand for gold while the available amount of 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.

The yield on the 10-year US Treasury note fell after manufacturing in New York declined, boosting the appeal of gold, while the dollar eased slightly. “We’re seeing yields come down a little bit as bond prices rise. That’s giving 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 that interest rates will be cut by 25 basis points in November.

Markets are awaiting data on US retail sales, industrial production and jobless claims due to be released 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 rise again 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 up 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.

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Gold price today October 17, 2024: World gold price increases strongly again
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