Gold price today October 21, 2024: World gold price on the rise
Gold price today October 21, 2024: World gold price exceeded the threshold of 2,700 USD/ounce, with expectations that prices will continue to increase in the future.
Domestic gold price today October 21, 2024
At the time of survey at 5:00 a.m. on October 21, 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 84.7 million VND/tael for buying and 85.7 million VND/tael for selling. Compared to yesterday, the price of DOJI gold rings continued to increase by 150 thousand VND/tael in both buying and selling directions.
At Mi Hong Jewelry Company, the price of Mi Hong gold at the time of survey was listed at 85.2-86 million VND/tael (buy - sell).
SJC gold price at Bao Tin Minh Chau Company Limited is also traded by the enterprise at 84-86 million VND/tael (buy in - sell out). Meanwhile, at Bao Tin Manh Hai, it is being traded at 84-86 million VND/tael (buy in - sell out).
The latest gold price list today, October 21, 2024 is as follows:
| Gold price today | October 21, 2024 (Million VND) | Difference (thousand dong/tael) | ||
| Buy | Sell out | Buy | Sell out | |
| SJC in Hanoi | 84 | 86 | - | - |
| DOJI Group | 84 | 86 | - | - |
| Mi Hong | 85.2 | 86 | - | - |
| PNJ | 84 | 86 | - | - |
| Vietinbank Gold | 86 | - | - | |
| Bao Tin Minh Chau | 84 | 86 | - | - |
| Bao Tin Manh Hai | 84 | 86 | - | - |
| 1.DOJI- Updated: 10/21/2024 05:10 - Source website time - ▼/▲ Compared to yesterday. | ||
| Type | Buy | Sell out |
| AVPL/SJC HN | 84,000 | 86,000 |
| AVPL/SJC HCM | 84,000 | 86,000 |
| AVPL/SJC DN | 84,000 | 86,000 |
| Raw material 9999 - HN | 84,600▲150K | 85,000▲150K |
| Raw materials 999 - HN | 84,500▲150K | 84,900▲150K |
| AVPL/SJC Can Tho | 84,000 | 86,000 |
| 2.PNJ- Updated: 10/21/2024 05:10 - Source website time - ▼/▲ Compared to yesterday. | ||
| Type | Buy | Sell out |
| HCMC - PNJ | 84,700▲200K | 85,700▲160K |
| HCMC - SJC | 84,000 | 86,000 |
| Hanoi - PNJ | 84,700▲200K | 85,700▲160K |
| Hanoi - SJC | 84,000 | 86,000 |
| Da Nang - PNJ | 84,700▲200K | 85,700▲160K |
| Da Nang - SJC | 84,000 | 86,000 |
| Western Region - PNJ | 84,700▲200K | 85,700▲160K |
| Western Region - SJC | 84,000 | 86,000 |
| Jewelry gold price - PNJ | 84,700▲200K | 85,700▲160K |
| Jewelry gold price - SJC | 84,000 | 86,000 |
| Jewelry gold price - Southeast | PNJ | 84,700▲200K |
| Jewelry gold price - SJC | 84,000 | 86,000 |
| Jewelry gold price - Jewelry gold price | PNJ 999.9 Plain Ring | 84,700▲200K |
| Jewelry gold price - Jewelry gold 999.9 | 84,600▲300K | 85,400▲300K |
| Jewelry gold price - 999 jewelry gold | 84,520▲300K | 85,320▲300K |
| Jewelry gold price - 99 jewelry gold | 83,650▲300K | 84,650▲300K |
| Jewelry gold price - 916 gold (22K) | 77,830▲280K | 78,330▲280K |
| Jewelry gold price - 750 gold (18K) | 62,800▲220K | 64,200▲220K |
| Jewelry gold price - 680 gold (16.3K) | 56,820▲200K | 58,220▲200K |
| Jewelry gold price - 650 gold (15.6K) | 54,260▲190K | 55,660▲190K |
| Jewelry gold price - 610 gold (14.6K) | 50,840▲180K | 52,240▲180K |
| Jewelry gold price - 585 gold (14K) | 48,710▲180K | 50,110▲180K |
| Jewelry gold price - 416 gold (10K) | 34,280▲130K | 35,680▲130K |
| Jewelry gold price - 375 gold (9K) | 30,780▲120K | 32,180▲120K |
| Jewelry gold price - 333 gold (8K) | 26,930▲100K | 28,330▲100K |
| 3. SJC - Updated: October 21, 2024 05:10 - Website time of supply - ▼/▲ Compared to yesterday. | ||
| Type | Buy | Sell out |
| SJC 1L, 10L, 1KG | 84,000 | 86,000 |
| SJC 5c | 84,000 | 86,030 |
| SJC 2c, 1C, 5 phan | 84,000 | 86,020 |
| SJC 99.99 gold ring 1 chi, 2 chi, 5 chi | 84,000▲150K | 85,300▲350K |
| SJC 99.99 gold ring 0.3 chi, 0.5 chi | 84,000▲150K | 85,400▲350K |
| 99.99% Jewelry | 83,900▲150K | 85,000▲350K |
| 99% Jewelry | 82,158▲347K | 84,158▲347K |
| Jewelry 68% | 55,455▲238K | 57,955▲238K |
| Jewelry 41.7% | 33,098▲146K | 35,598▲146K |
World gold price today October 21, 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 2,721.31 USD/Ounce. Today's gold price increased by 73.14 USD/Ounce compared to last week. Converted to the USD exchange rate, on the free market (25,360 VND/USD), the world gold price is about 84.12 million VND/tael (excluding taxes and fees). Thus, the price of SJC gold bars is 1.88 million VND/tael higher than the international gold price.
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If an investor buys 9999 gold rings in January 2024 at VND61.9 million/tael, he can now sell them at VND84.7 million/tael, earning a profit of about VND21.6 million/tael. Buying SJC gold bars at the same time only earns a profit of about VND10 million/tael.
The appeal of 9999 gold rings makes buyers seek online shopping channels because stores limit the quantity sold. Gold ring exchange groups on Facebook are popular, with names such as "9999 Gold Exchange", "9999 Gold Exchange Association, BTMC".
The service of queuing to buy 9999 gold rings has become popular, with service fees ranging from 50,000 to 120,000 VND/tael, increasing the total purchase cost to 500,000 VND to 1.2 million VND/tael. Buyers accept the high cost because they predict that the price of gold will continue to increase.
The State Bank recommends buying gold at licensed businesses to avoid the risk of buying gold that does not guarantee quality.
During the trading week from October 14-19, 2024, SJC gold bars increased by a total of VND 1.5 million/tael after two adjustments. The closing price of the week reached VND 84 million/tael for buying and VND 86 million/tael for selling. Compared to the converted world gold price, SJC was VND 1.9 million higher, this difference decreased by VND 500,000 compared to the end of last week.
While the gold bar market is quiet, gold rings are continuously setting records. Since the beginning of the week, gold rings have recorded 5 different price peaks in a total of 6 trading sessions. The price of gold rings increased from 2.2-2.4 million VND/tael for buying and 2.3-2.4 million VND/tael for selling. Investors holding gold rings can earn a profit of 1-1.4 million VND/tael during the week.
The main reason for the sharp increase in gold rings is that the world gold price exceeded the threshold of 2,700 USD/ounce at the end of the week, boosted by Middle East tensions, the US presidential election, and expectations of monetary policy easing. These factors have created a boom in the gold ring market, with expectations that prices will continue to rise in the future.
Gold price forecast
A recent Kitco News survey found general optimism in the industry about the gold price outlook. A majority of experts (94%) expect gold prices to rise, while only one analyst (6%) does not see a change.
The majority of retail traders (72%) also believe gold prices will rise, compared to a minority (17%) predicting a fall.
Kevin Grady of Phoenix Futures and Options said the current environment supports higher gold prices. Grady predicted lower interest rates and gold prices could reach $3,000 an ounce in the first quarter of next year.
The upcoming BRICS summit is expected to be a bullish factor for gold prices due to its potential impact on the US dollar.
