Gold price today October 6, 2024: World gold price drops, breaking 3 consecutive weeks of increase
Gold price today October 6, 2024: The price of 9999 gold rings stabilized at a peak of 83.6 million VND/tael. World gold prices fell, breaking a streak of 3 consecutive weeks of increases.
Domestic gold price today October 6, 2024
At the time of survey at 5:00 a.m. on October 6, 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 82.85 million VND/tael for buying and 83.6 million VND/tael for selling.
At Mi Hong Jewelry Company, the price of Mi Hong gold at the time of survey was listed at 83.5-84 million VND/tael (buy - sell).
SJC gold price at Bao Tin Minh Chau Company Limited is also traded at 82-84 million VND/tael (buy in - sell out). Meanwhile, at Bao Tin Manh Hai, it is being traded at 82.1-83.5 million VND/tael (buy in - sell out).
The latest gold price list today, October 6, 2024 is as follows:
| Gold price today | October 6, 2024 (Million VND) | Difference (thousand dong/tael) | ||
| Buy | Sell out | Buy | Sell out | |
| SJC in Hanoi | 82 | 84 | - | - |
| DOJI Group | 82 | 84 | - | - |
| Mi Hong | 83.5 | 84 | - | - |
| PNJ | 82 | 84 | - | - |
| Vietinbank Gold | - | 84 | - | - |
| Bao Tin Minh Chau | 82 | 84 | - | - |
| Bao Tin Manh Hai | 82.1 | 83.5 | - | - |
| 1.DOJI- Updated: 10/6/2024 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 | 82,000 | 84,000 |
| Raw material 9999 - HN | 82,750 | 83,000 |
| Raw materials 999 - HN | 82,650 | 82,900 |
| AVPL/SJC Can Tho | 82,000 | 84,000 |
| 2.PNJ- Updated: 10/6/2024 05:10 - Source website time - ▼/▲ Compared to yesterday. | ||
| Type | Buy | Sell out |
| HCMC - PNJ | 82,800 | 83,600 |
| HCMC - SJC | 82,000 | 84,000 |
| Hanoi - PNJ | 82,800 | 83,600 |
| Hanoi - SJC | 82,000 | 84,000 |
| Da Nang - PNJ | 82,800 | 83,600 |
| Da Nang - SJC | 82,000 | 84,000 |
| Western Region - PNJ | 82,800 | 83,600 |
| Western Region - SJC | 82,000 | 84,000 |
| Jewelry gold price - PNJ | 82,800 | 83,600 |
| Jewelry gold price - SJC | 82,000 | 84,000 |
| Jewelry gold price - Southeast | PNJ | 82,800 |
| Jewelry gold price - SJC | 82,000 | 84,000 |
| Jewelry gold price - Jewelry gold price | PNJ 999.9 Plain Ring | 82,800 |
| Jewelry gold price - Jewelry gold 999.9 | 82,700 | 83,500 |
| Jewelry gold price - 999 jewelry gold | 82,620 | 83,420 |
| Jewelry gold price - 99 jewelry gold | 81,770 | 82,770 |
| Jewelry gold price - 916 gold (22K) | 76,090 | 76,590 |
| Jewelry gold price - 750 gold (18K) | 61,380 | 62,780 |
| Jewelry gold price - 680 gold (16.3K) | 55,530 | 56,930 |
| Jewelry gold price - 650 gold (15.6K) | 53,030 | 54,430 |
| Jewelry gold price - 610 gold (14.6K) | 49,690 | 51,090 |
| Jewelry gold price - 585 gold (14K) | 47,600 | 49,000 |
| Jewelry gold price - 416 gold (10K) | 33,490 | 34,890 |
| Jewelry gold price - 375 gold (9K) | 30,060 | 31,460 |
| Jewelry gold price - 333 gold (8K) | 26,310 | 27,710 |
| 3.SJC- Updated: 10/6/2024 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 | 82,000 | 83,300 |
| SJC 99.99 gold ring 0.3 chi, 0.5 chi | 82,000 | 83,400 |
| 99.99% Jewelry | 81,950 | 83,000 |
| 99% Jewelry | 80,178 | 82,178 |
| Jewelry 68% | 54,096 | 56,596 |
| Jewelry 41.7% | 32,264 | 34,764 |
World gold price today October 6, 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 2,651.84 USD/Ounce. Today's gold price decreased by 6.42 USD/Ounce compared to yesterday. Converted according to the USD exchange rate, on the free market (25,210 VND/USD), the world gold price is about 81.46 million VND/tael (excluding taxes and fees). Thus, the price of SJC gold bars is 2.53 million VND/tael higher than the international gold price.
Mr. Shaokai Fan, Director of the World Gold Council for Asia-Pacific, emphasized that Vietnam has made progress in reforming the gold market. The World Gold Council suggested that more open management policies could increase liquidity and help consumers buy gold at more reasonable prices.
Vietnam is advised to maintain economic stability and consider reforms to make the gold market operate efficiently and transparently. Gold is an important asset in global investment portfolios, which can improve the risk-reward ratio, especially in the long term.
The world gold price has not increased for 3 consecutive weeks, but the domestic gold ring price continues to increase. The increase in the price of gold rings shows that it is not only dependent on the world gold market but also influenced by domestic factors such as supply and demand.
The current price of gold rings is 83.6 million VND per tael, 400,000 VND lower than SJC gold bars and 2.1 million VND higher than the world gold price after conversion.
In the past few months, the domestic gold market has experienced a shortage of gold bars because businesses have sold out, and state-owned banks only sell SJC gold online.
The difficulty in buying SJC gold bars has caused people to lose interest and switch to buying gold rings. The demand for gold rings has skyrocketed, leading to a shortage of this type of gold. People tend to hoard gold rings instead of selling them, causing the price of gold rings to continuously increase, despite the fact that the world gold price has not increased.
To attract gold supply from investors, many gold businesses have kept the difference between buying and selling prices of gold rings below 1 million VND.
World gold prices fell this week as the market did not expect the US Federal Reserve (Fed) to cut interest rates much in its upcoming meeting.
The US jobs report for September beat expectations, with 254,000 new jobs created, compared to the forecast of 150,000. The unemployment rate fell to 4.1%, lower than the previous forecast of 4.2%.
The US dollar rose after the report was released, reducing the likelihood that the Fed will cut interest rates by 0.5% at its November meeting. Gold prices fell due to the stronger dollar and because gold does not yield when priced in dollars.
The jobs report also showed that August's jobs figure was revised up, and the unemployment rate fell despite the labor market participation rate remaining unchanged.
Data from CME's FedWatch Tool shows there is only a 2.6% chance the Fed will cut rates by 0.5% at its November meeting, while the probability of a 0.25% cut has risen to 97.4%.
