Gold price today October 31, 2024: World gold and domestic gold break records
Gold price today October 31, 2024: After the world gold price broke the record yesterday, the price of 9999 gold rings also increased sharply, surpassing the price mark of 89 million VND/tael. The price of gold bars also increased by 1 million VND/tael.
Domestic gold price today October 31, 2024
At the time of survey at 5:00 a.m. on October 31, 2024, the gold price on the trading floors of some companies was as follows:
Today, DOJI listed the price of 9999 gold at 88.6 million VND/tael for buying and 89.6 million VND/tael for selling. Compared to yesterday, the price of DOJI gold rings increased by 600 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 88.5-90 million VND/tael (buy - sell). Compared to yesterday, the price of gold bars increased by 100 thousand VND/tael for buying and 1 million VND/tael for selling.
SJC gold price at Bao Tin Minh Chau Company Limited is also traded at 88-90 million VND/tael (buy - sell). Meanwhile, at Bao Tin Manh Hai, it is being traded at 87-89 million VND/tael (buy - sell). Gold bar prices have increased sharply by 1 million VND in both buying and selling directions compared to yesterday.

The latest gold price list today October 31, 2024 is as follows:
Gold price today | October 31, 2024 (million dong) | Difference (thousand dong/tael) | ||
Buy | Sell | Buy | Sell | |
SJC in Hanoi | 88 | 90 | +1000 | +1000 |
DOJI Group | 88 | 90 | +1000 | +1000 |
Red Eyelashes | 88.5 | 90 | +100 | +1000 |
PNJ | 88 | 90 | +1000 | +1000 |
Vietinbank Gold | 90 | - | +1000 | |
Bao Tin Minh Chau | 88 | 90 | +1000 | +1000 |
Bao Tin Manh Hai | 88 | 90 | +1000 | +1000 |
1.DOJI- Updated: 10/31/2024 05:00 - Source website time - ▼/▲ Compared to yesterday. | ||
Type | Buy | Sell |
AVPL/SJC HN | 88,000▲1000K | 90,000▲1000K |
AVPL/SJC HCM | 89,000▲2000K | 90,000▲1000K |
AVPL/SJC DN | 87,000 | 89,000 |
Raw material 9999 - HN | 88,500▲600K | 88,900▲600K |
Raw material 999 - HN | 88,500▲700K | 88,800▲600K |
AVPL/SJC Can Tho | 88,000▲1000K | 90,000▲1000K |
2.PNJ- Updated: 10/31/2024 05:00 - Source website time - ▼/▲ Compared to yesterday. | ||
Type | Buy | Sell |
HCMC - PNJ | 88,300▲500K | 89,000▲100K |
HCMC - SJC | 88,000▲1000K | 90,000▲1000K |
Hanoi - PNJ | 88,300▲500K | 89,000▲100K |
Hanoi - SJC | 88,000▲1000K | 90,000▲1000K |
Da Nang - PNJ | 88,300▲500K | 89,000▲100K |
Da Nang - SJC | 88,000▲1000K | 90,000▲1000K |
Western Region - PNJ | 88,300▲500K | 89,000▲100K |
Western Region - SJC | 88,000▲1000K | 90,000▲1000K |
Jewelry gold price - PNJ | 88,300▲500K | 89,000▲100K |
Jewelry gold price - SJC | 88,000▲1000K | 90,000▲1000K |
Jewelry gold price - Southeast | PNJ | 88,300▲500K |
Jewelry gold price - SJC | 88,000▲1000K | 90,000▲1000K |
Jewelry gold price - Jewelry gold price | PNJ 999.9 Plain Ring | 88,300▲500K |
Jewelry gold price - Jewelry gold 999.9 | 88,200▲500K | 89,000▲500K |
Jewelry gold price - Jewelry gold 999 | 88,110▲500K | 88,910▲500K |
Jewelry gold price - Jewelry gold 99 | 87,210▲490K | 88,210▲490K |
Jewelry gold price - 916 gold (22K) | 81,120▲450K | 81,620▲450K |
Jewelry gold price - 750 gold (18K) | 65,500▲370K | 66,900▲370K |
Jewelry gold price - 680 gold (16.3K) | 59,270▲340K | 60,670▲340K |
Jewelry gold price - 650 gold (15.6K) | 56,600▲320K | 58,000▲320K |
Jewelry gold price - 610 gold (14.6K) | 53,040▲300K | 54,440▲300K |
Jewelry gold price - 585 gold (14K) | 50,820▲300K | 52,220▲300K |
Jewelry gold price - 416 gold (10K) | 35,770▲200K | 37,170▲200K |
Jewelry gold price - 375 gold (9K) | 32,130▲190K | 33,530▲190K |
Jewelry gold price - 333 gold (8K) | 28,120▲160K | 29,520▲160K |
3. SJC - Updated: 10/31/2024 05:00 - Source website time - ▼/▲ Compared to yesterday. | ||
Type | Buy | Sell |
SJC 1L, 10L, 1KG | 88,000▲1000K | 90,000▲1000K |
SJC 5c | 88,000▲1000K | 90,020▲1000K |
SJC 2c, 1c, 5c | 88,000▲1000K | 90,030▲1000K |
SJC 99.99 gold ring 1 chi, 2 chi, 5 chi | 87,500▲500K | 89,000▲500K |
SJC 99.99 gold ring 0.3 chi, 0.5 chi | 87,500▲500K | 89,100▲500K |
Jewelry 99.99% | 87,400▲500K | 88,800▲500K |
Jewelry 99% | 85,920▲495K | 87,920▲495K |
Jewelry 68% | 58,040▲340K | 60,540▲340K |
Jewelry 41.7% | 34,683▲209K | 37,183▲209K |
World gold price today October 31, 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 2,775.28 USD/Ounce. Today's gold price increased by 14.47 USD/Ounce compared to yesterday. Converted according to the USD exchange rate, on the free market (25,780 VND/USD), the world gold price is about 87.21 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.
.png)
Currently, SJC is the only major brand in Vietnam that continuously supplies plain gold rings, but also limits each person to a maximum of 5 coins. Other major gold brands such as DOJI, PNJ, Bao Tin Minh Chau... often run out of plain rings, and many stores have even stopped accepting pre-orders.
Buying gold bars is also not easy. People said that the procedure to buy gold bars at 5 units authorized by the State Bank (SJC and 4 state-owned banks) has become more difficult than before. The purchase amount is limited to 1-2 taels and only applies to customers who have successfully registered online. The registration number of these banks often runs out very quickly.
Meanwhile, other brands licensed to trade in gold bars such as PNJ, DOJI, and Bao Tin Minh Chau have stopped selling this type of gold for many months now due to a lack of supply after the State Bank intervened in setting prices.
The gold market is currently being affected by many important economic factors, increasing expectations of growth potential. Conflict in the Middle East also boosts demand for gold as it is a safe asset in times of uncertainty.
Gold prices hit a new record high on Wednesday morning, rising 0.5% after rising 1.5% on Tuesday, topping $2,790 an ounce for the first time. Year-to-date, gold is up 36%, outpacing the S&P 500's 23% gain.
Experts predict that the US presidential election on November 5 could cause major volatility in the gold market, especially if the race is tense. In this context, gold is favored as a hedge against political risks.
Investors are awaiting key economic reports, including the ADP jobs report, the Personal Expenditures (PCE) Index and US payrolls, for a clearer view of the Federal Reserve's policy ahead of its next interest rate decision on November 7. Currently, the market is predicting a 98% chance that the Fed will cut interest rates by another 0.25% in November.
In the first half of 2024, the gold market was driven by record demand from central banks and unprecedented commercial demand in Asia, especially China. According to the latest report from the World Gold Council (WGC), total gold demand in the third quarter reached 1,313 tons, up 5% compared to the same period last year.
Investment demand has been a key driver of the gold market, with prices hitting new highs. Investment demand rose by 364.1 tonnes in the third quarter, up 132% from the third quarter of 2023. Exchange-traded fund (ETF) demand rose by 94.6 tonnes in the quarter, marking a recovery after nine consecutive months of outflows.
ETF holdings increased by 94.6 tonnes in the third quarter, while demand in the OTC market increased by 137 tonnes, mainly from large individual investors seeking protection against economic and geopolitical risks.
Demand for gold bars and coins fell 9% to 269.4 tonnes, with weak demand from China, Türkiye and Europe. Jewelry demand fell 12% to 459 tonnes due to record high gold prices.
While central banks remained net buyers, demand fell 49% to 186.2 tonnes as a sharp rise in gold prices since March curbed some buying activity.
Gold demand in the technology sector increased by 7% to 83 tonnes, mainly from the electronics sector thanks to new products from major smartphone makers.
WGC believes that this trend will likely continue to support the gold market until the end of the year, although there are still many uncertainties, especially from the impact of China's economic stimulus policies.
Gold Price Forecast
If the market expects interest rates to continue to fall, investment demand for gold will increase, pushing up prices, said UBS expert Giovanni Staunovo. He predicted that gold prices could reach $2,900 an ounce within the next 12 months.
Meanwhile, TD Securities strategist Daniel Ghali believes that gold will definitely hit $2,800 an ounce this week. He explains that the elections are making many people hesitant to sell, so any factor that stimulates buying demand will have a big impact on gold prices.
However, Mr. Robert Minter, Director of Investment Strategy at ABRDN Fund, advised investors to look at long-term trends instead of focusing on short-term market fluctuations. He said that falling interest rates and persistent inflation could cause real interest rates to fall faster than expected. In this context, he recommended investors pay attention to commodities, especially gold.
By the end of this year, Mr. Minter predicts that gold prices could hover around $2,800 an ounce, slightly higher than current levels, and that gold prices could hit $3,000 an ounce by 2025.
Gold's bullish trend could last until 2025 as favorable U.S. interest rates and geopolitical tensions continue to boost the precious metal's appeal, a Reuters survey showed.