Gold price today October 3, 2024: World gold price slightly decreased due to conflict in the Middle East
Gold price today October 3, 2024: 9999 gold ring price increased slightly again by 300 thousand VND/tael. World gold price decreased slightly due to conflict in the Middle East
Domestic gold price today October 3, 2024
At the time of survey at 5:00 a.m. on October 3, 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 82.2 million VND/tael for buying and 83.15 million VND/tael for selling. Compared to yesterday, the price of 9999 gold rings increased again by 300 thousand VND/tael for buying and 250,000 VND/tael for selling.
At Mi Hong Jewelry Company, the price of Mi Hong gold at the time of survey was listed at 83.3-84 million VND/tael (buy - sell).
SJC gold price at Bao Tin Minh Chau Company Limited is also traded by businesses at 82-84 million VND/tael (buy in - sell out). Meanwhile, at Bao Tin Manh Hai, it is being traded at 82.1-84 million VND/tael (buy in - sell out).
The latest gold price list today, October 3, 2024 is as follows:
| Gold price today | October 3, 2024 (Million VND) | Difference (thousand dong/tael) | ||
| Buy | Sell out | Buy | Sell out | |
| SJC in Hanoi | 82 | 84 | - | - |
| DOJI Group | 82 | 84 | - | - |
| Mi Hong | 83.3 | 84 | - | - |
| PNJ | 82 | 84 | - | - |
| Vietinbank Gold | - | 84 | - | - |
| Bao Tin Minh Chau | 82 | 84 | - | - |
| Bao Tin Manh Hai | 82.1 | 84 | - | - |
| 1.DOJI- Updated: 10/3/2024 05:10 - Source website time - ▼/▲ Compared to yesterday. | ||
| Type | Buy | Sell out |
| AVPL/SJC HN | 82,000 | 84,000 |
| AVPL/SJC HCM | 82,000 | 84,000 |
| AVPL/SJC DN | 81,500 | 83,500 |
| Raw material 9999 - HN | 82,100▲400K | 82,350▲350K |
| Raw materials 999 - HN | 82,000▲400K | 82,250▲350K |
| AVPL/SJC Can Tho | 82,000 | 84,000 |
| 2.PNJ- Updated: 10/3/2024 05:10 - Source website time - ▼/▲ Compared to yesterday. | ||
| Type | Buy | Sell out |
| HCMC - PNJ | 82,100▲100K | 83,000▲100K |
| HCMC - SJC | 82,000 | 84,000 |
| Hanoi - PNJ | 82,100▲100K | 83,000▲100K |
| Hanoi - SJC | 82,000 | 84,000 |
| Da Nang - PNJ | 82,100▲100K | 83,000▲100K |
| Da Nang - SJC | 82,000 | 84,000 |
| Western Region - PNJ | 82,100▲100K | 83,000▲100K |
| Western Region - SJC | 82,000 | 84,000 |
| Jewelry gold price - PNJ | 82,100▲100K | 83,000▲100K |
| Jewelry gold price - SJC | 82,000 | 84,000 |
| Jewelry gold price - Southeast | PNJ | 82,100▲100K |
| Jewelry gold price - SJC | 82,000 | 84,000 |
| Jewelry gold price - Jewelry gold price | PNJ 999.9 Plain Ring | 82,100▲100K |
| Jewelry gold price - Jewelry gold 999.9 | 82,000▲100K | 82,800▲100K |
| Jewelry gold price - 999 jewelry gold | 81,920▲100K | 82,720▲100K |
| Jewelry gold price - 99 jewelry gold | 81,070▲100K | 82,070▲100K |
| Jewelry gold price - 916 gold (22K) | 75,450▲100K | 75,950▲100K |
| Jewelry gold price - 750 gold (18K) | 60,850▲70K | 62,250▲70K |
| Jewelry gold price - 680 gold (16.3K) | 55,050▲60K | 56,450▲60K |
| Jewelry gold price - 650 gold (15.6K) | 52,570▲60K | 53,970▲60K |
| Jewelry gold price - 610 gold (14.6K) | 49,260▲60K | 50,660▲60K |
| Jewelry gold price - 585 gold (14K) | 47,190▲60K | 48,590▲60K |
| Jewelry gold price - 416 gold (10K) | 33,200▲50K | 34,600▲50K |
| Jewelry gold price - 375 gold (9K) | 29,800▲40K | 31,200▲40K |
| Jewelry gold price - 333 gold (8K) | 26,070▲30K | 27,470▲30K |
| 3.SJC- Updated: 10/3/2024 05:10 - Source website time - ▼/▲ Compared to yesterday. | ||
| Type | Buy | Sell out |
| SJC 1L, 10L, 1KG | 82,000 | 84,000 |
| SJC 5c | 82,000 | 84,020 |
| SJC 2c, 1C, 5 phan | 82,000 | 84,030 |
| SJC 99.99 gold ring 1 chi, 2 chi, 5 chi | 81,500▲100K | 82,900 |
| SJC 99.99 gold ring 0.3 chi, 0.5 chi | 81,500▲100K | 83,000 |
| 99.99% Jewelry | 81,450▲100K | 82,600 |
| 99% Jewelry | 79,782 | 81,782 |
| Jewelry 68% | 53,824 | 56,324 |
| Jewelry 41.7% | 32,098 | 34,598 |
World gold price today October 3, 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 2,654.07 USD/Ounce. Today's gold price decreased by 11.24 USD/Ounce compared to yesterday. Converted according to the USD exchange rate, on the free market (25,100 VND/USD), the world gold price is about 81.20 million VND/tael (excluding taxes and fees). Thus, the price of SJC gold bars is 2.79 million VND/tael higher than the international gold price.
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Gold prices remained supported as investors worried about the possibility of conflict between Iran and Israel. Iran launched more than 180 missiles at Israel on October 1, in retaliation for the deaths of Hezbollah and Hamas leaders.
Investors fear that if Israel suffers heavy losses, it could lead to war across the Middle East, leading to buying gold as a safe haven.
Ricardo Evangelista, analyst at ActivTrades, believes that expectations of US interest rate cuts and safe-haven demand due to political uncertainty will continue to support gold prices.
Although gold prices have recovered, they are still down about $20 from the peak of $2,860/ounce, due to increased profit-taking selling pressure.
Recently, the fluctuating gold price has caused voters in many places such as Ho Chi Minh City, Hanoi, and other provinces to propose that the State Bank (SBV) find ways to stabilize the market. Voters want the Government to assign the SBV to act as the focal point, coordinating with ministries, branches and localities to find solutions to stabilize gold prices.
In particular, voters recommended that the State Bank and relevant agencies announce a tighter management plan and provide a suitable timetable so that businesses can adapt without much difficulty.
Voters also suggested that inspections and checks on the gold market be announced in advance and that they be carried out transparently and in accordance with regulations to avoid causing trouble for businesses. At the same time, there is a need to prevent acts of fraud or fraud during the process.
Gold price forecast
Goldman Sachs forecasts gold prices will rise to $2,900 an ounce by early 2025, up $200 from its previous forecast.
UOB Bank said the US Federal Reserve's (Fed) interest rate cut has weakened the US dollar and created favorable conditions for gold prices to increase.
Gold prices have rallied sharply in Q3 2024, with UOB forecasting prices to reach $2,700/ounce by year-end and $2,800/ounce by Q1 2025.
Other experts say gold prices could fall as physical demand falls at higher prices. Ole Hansen of Saxo Bank says investors need time to adjust to the new prices.
Mark Leibovit from VR Metals/Resource Letter said gold prices have peaked and will stabilize after a period of rapid increase.
Jim Wyckoff from Kitco believes that gold is overbought and there will be a natural correction phase to ease the buying pressure.
