On October 30, the price of SJC gold bars and gold rings decreased by 1.5 million VND.

On the morning of October 30, Saigon Jewelry Company (SJC) listed the price of gold bars at 144.6 - 146.6 million VND/tael (buy - sell), down 1.5 million VND compared to yesterday. This is the sharpest drop this week.

In general, in the last week, the price of gold bars lost about 2.3 million VND/tael, equivalent to 1.3%.

Not only SJC, but also other big names in the gold industry such as PNJ, DOJI, Phu Quy, Bao Tin Minh Chau, Mi Hong and Bao Tin Manh Hai have all adjusted the price of gold bars to decrease deeply, bringing the general price level to the same level as SJC.

At PNJ and DOJI, gold bar prices decreased by 1.5 million VND/tael. Bao Tin Minh Chau lowered prices to 145.3 - 146.6 million VND/tael, down 1.8 to 1.5 million VND respectively compared to yesterday.

Phu Quy decreased sharply from 1.6 - 1.5 million VND in both buying and selling directions, to 144 - 146.6 million VND/tael.

In Ho Chi Minh City, Mi Hong also reduced the price of gold bars by 2 million VND/tael for buying and 1.5 million VND for selling, currently trading around 145.1 - 146.6 million VND/tael.

On the free market, the price of SJC gold bars is traded by gold shops at around 152.4 - 156.4 million VND/tael for buying and selling, down about 4 million VND compared to yesterday.

Compared to the peak of 177 million VND, the price of SJC gold at small gold shops has lost more than 20 million VND, but is still far higher than the price on official channels.

In line with the trend, the domestic gold ring price also dropped sharply. SJC listed 99.99 gold ring type 1-5 at only 142.6 - 145.1 million VND/tael, down 1.2 million VND/tael compared to the previous session.

Despite the cooling down, Bao Tin Minh Chau is still the brand with the highest listed price for gold rings on the market. This company is trading round gold at 145.3 - 148.3 million VND/tael, after a decrease of 1.2 million VND.

The domestic gold price market this week recorded many large fluctuations, fluctuating by 1-2 million VND/tael per day. Experts said that the high fluctuation amplitude reflects investors' cautiousness in the face of fluctuations in world gold prices and expectations about US monetary policy.

With major brands simultaneously lowering prices, the domestic gold market has entered a period of adjustment after a series of strong increases. Despite the short-term decline, many experts still believe that gold prices may soon stabilize again as domestic demand for physical gold remains high.

Experts predict that gold prices may continue to fluctuate in the range of 144 - 148 million VND/tael before forming a new trend, depending on international developments and domestic demand at the end of the year.

In the international market, gold price this morning was traded around 3,978 USD/ounce, a slight increase of about 20 USD/ounce compared to early morning. However, compared to the peak of 4,000 USD/ounce in yesterday's session, the precious metal still decreased significantly.

The world gold price market is witnessing strong fluctuations after many consecutive sessions of increase and decrease. The main reasons come from new economic information from the US and changes in global trade negotiations, causing investors to constantly change their trading strategies.

In the latest development, the US Federal Reserve (Fed) decided to cut interest rates for the second time this year, reducing them by 0.25%, bringing the interest rate range to 3.75% - 4%. This policy caused gold prices to increase slightly at times, because low interest rates often make investors seek precious metals as a safe haven.

However, the Fed's cautious signal about further cuts has limited the gold price's rise. Many investors are still closely monitoring upcoming US economic data to assess the interest rate trend in the coming time.

Experts say that world gold prices will continue to fluctuate strongly in the short term due to the simultaneous influence of the Fed's monetary policy and developments in US-China trade negotiations.

If the Fed continues its easing trend and the USD weakens, gold prices could recover to the $3,980 - $4,000/ounce range. Conversely, if the market expects the Fed to pause rate cuts, gold prices will likely adjust around $3,900/ounce before establishing a new trend.