Gold price today October 25, 2024: World gold price decreased about 1%
Gold price today October 25, 2024: World gold price decreased by about 1%. The price of 9999 gold rings is at the ceiling of 89 million VND/tael, equal to the price of gold bars, it is difficult to increase further.
Domestic gold price today October 25, 2024
At the time of survey at 5:00 a.m. on October 25, 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 88 million VND/tael for buying and 89 million VND/tael for selling.
At Mi Hong Jewelry Company, the price of Mi Hong gold at the time of survey was listed at 88.3-89 million VND/tael (buy in - sell out). The price of Mi Hong gold decreased by 200 thousand VND/tael in the buying direction compared to yesterday.
SJC gold price at Bao Tin Minh Chau Company Limited is also traded by the enterprise at 87-89 million VND/tael (buy in - sell out). Meanwhile, at Bao Tin Manh Hai, it is being traded at 87-89 million VND/tael (buy in - sell out).
The latest gold price list today October 25, 2024 is as follows:
| Gold price today | October 25, 2024 (Million VND) | Difference (thousand dong/tael) | ||
| Buy | Sell out | Buy | Sell out | |
| SJC in Hanoi | 87 | 89 | - | - |
| DOJI Group | 87 | 89 | - | - |
| Mi Hong | 88.3 | 89 | -200 | - |
| PNJ | 87 | 89 | - | - |
| Vietinbank Gold | 89 | - | - | |
| Bao Tin Minh Chau | 87 | 89 | - | - |
| Bao Tin Manh Hai | 87 | 89 | - | - |
| 1.DOJI- Updated: 10/25/2024 05:10 - Source website time - ▼/▲ Compared to yesterday. | ||
| Type | Buy | Sell out |
| AVPL/SJC HN | 87,000 | 89,000 |
| AVPL/SJC HCM | 87,000 | 89,000 |
| AVPL/SJC DN | 87,000 | 89,000 |
| Raw material 9999 - HN | 87,900 | 88,300 |
| Raw materials 999 - HN | 87,800 | 88,200 |
| AVPL/SJC Can Tho | 87,000 | 89,000 |
| 2.PNJ- Updated: 10/25/2024 05:10 - Source website time - ▼/▲ Compared to yesterday. | ||
| Type | Buy | Sell out |
| HCMC - PNJ | 87,600 | 88,900 |
| HCMC - SJC | 87,000 | 89,000 |
| Hanoi - PNJ | 87,600 | 88,900 |
| Hanoi - SJC | 87,000 | 89,000 |
| Da Nang - PNJ | 87,600 | 88,900 |
| Da Nang - SJC | 87,000 | 89,000 |
| Western Region - PNJ | 87,600 | 88,900 |
| Western Region - SJC | 87,000 | 89,000 |
| Jewelry gold price - PNJ | 87,600 | 88,900 |
| Jewelry gold price - SJC | 87,000 | 89,000 |
| Jewelry gold price - Southeast | PNJ | 87,600 |
| Jewelry gold price - SJC | 87,000 | 89,000 |
| Jewelry gold price - Jewelry gold price | PNJ 999.9 Plain Ring | 87,600 |
| Jewelry gold price - Jewelry gold 999.9 | 87,500 | 88,300 |
| Jewelry gold price - 999 jewelry gold | 87,410 | 88,210 |
| Jewelry gold price - 99 jewelry gold | 86,520 | 87,520 |
| Jewelry gold price - 916 gold (22K) | 80,480 | 80,980 |
| Jewelry gold price - 750 gold (18K) | 64,980 | 66,380 |
| Jewelry gold price - 680 gold (16.3K) | 58,790 | 60,190 |
| Jewelry gold price - 650 gold (15.6K) | 56,150 | 57,550 |
| Jewelry gold price - 610 gold (14.6K) | 52,610 | 54,010 |
| Jewelry gold price - 585 gold (14K) | 50,410 | 51,810 |
| Jewelry gold price - 416 gold (10K) | 35,480 | 36,880 |
| Jewelry gold price - 375 gold (9K) | 31,860 | 33,260 |
| Jewelry gold price - 333 gold (8K) | 27,890 | 29,290 |
| 3. SJC - Updated: October 25, 2024 05:10 - Website time of supply - ▼/▲ Compared to yesterday. | ||
| Type | Buy | Sell out |
| SJC 1L, 10L, 1KG | 87,000 | 89,000 |
| SJC 5c | 87,000 | 89,020 |
| SJC 2c, 1C, 5 phan | 87,000 | 89,030 |
| SJC 99.99 gold ring 1 chi, 2 chi, 5 chi | 87,000 | 88,500 |
| SJC 99.99 gold ring 0.3 chi, 0.5 chi | 87,000 | 88,600 |
| 99.99% Jewelry | 86,900 | 88,200 |
| 99% Jewelry | 85,326 | 87,326 |
| Jewelry 68% | 57,631 | 60,131 |
| Jewelry 41.7% | 34,433 | 36,933 |
World gold price today October 25, 2024 and world gold price fluctuation chart in the past 24 hours
According to Kitco, the world gold price recorded at 5:00 am today, Vietnam time, was 2,738.26 USD/Ounce. Today's gold price increased by 2.72 USD/Ounce compared to yesterday. Converted according to the USD exchange rate, on the free market (25,800 VND/USD), the world gold price is about 86.12 million VND/tael (excluding taxes and fees). Thus, the price of SJC gold bars is 2.88 million VND/tael higher than the international gold price.
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Due to limited supply of SJC gold bars, people have switched to buying gold rings, a type of gold that can be converted into cash quickly and is suitable for small-scale storage.
This shift has increased the demand and price of gold rings. Buying gold rings is no longer easy due to the scarcity after Tet and the God of Wealth Day, causing the price of gold rings to increase due to the sudden demand for gold.
According to Associate Professor Dr. Nguyen Huu Huan, gold prices increase at the end of the year, especially from October to December, because this is the time of highest gold consumption in Asia, including Vietnam, with events such as wedding season and preparation for Lunar New Year.
The tradition of buying gold as gifts or for storage during this occasion also contributes to the increase in gold prices.
The world gold price fell about 1% from the peak of 2,758 USD/ounce on the afternoon of October 23 due to the stronger USD and the increase in US Treasury bond yields. Kitco pointed out that the gold price decreased mainly due to speculators selling to take profits.
Part of the reason for the price drop was a report showing the US housing market grew better than expected in September, which is not favorable for gold prices.
The DXY index, which measures the value of the dollar against other currencies, rose 0.3% to near a three-month high, reducing the appeal of gold.
US bond yields rose to a three-month high, increasing the opportunity cost of holding gold.
Bob Haberkorn of RJO Futures said that gold will have a hard time rising further due to rising US bond yields. However, he predicted that gold prices could reach $2,800 an ounce due to continued demand for financial safety.
While central bank buying may ease, the upcoming US presidential election could boost investment demand for gold as a safe haven, said Daniel Ghali, a commodities expert at TD Securities.
He believes that despite changes in factors affecting the gold market, there is still plenty of room for gold prices to rise, especially due to geopolitical uncertainties.
Ghali stressed that there is a large amount of money being invested in gold, and history shows that investors are holding a large amount of gold, which shows concerns about the US election.
He also observed that market participants were reluctant to sell gold amid rising prices. Ghali also noted that central banks played a key role in pushing gold prices to new highs.
Joni Teves, a precious metals expert at UBS Bank, predicts that the future of gold is bright after prices surpassed $2,700/ounce.
Ms. Teves is optimistic about the outlook for gold, believing that the Fed's loose monetary policy will continue to support gold prices, and that central bank buying will continue.
UBS Bank also believes that investors still have many opportunities to increase investment in gold, with the view that the market has not invested enough in this precious metal and there is still much room to expand investment.
Gold price forecast
Sprott Asset Management believes gold is entering a new bull cycle after setting a record earlier this week.
Many analysts now predict that gold prices could continue to rise to $3,000 an ounce, with the possibility of surpassing $2,800 an ounce in the next three months.
Citi Bank also holds a similar view, saying that gold prices will reach $3,000 in the next 6 to 9 months. Citi also noted that if tensions in the Middle East push oil prices up sharply in the short term, gold prices will continue to climb.
Commonwealth Bank of Australia expert Vivek Dhar forecasts the average gold price to reach $3,000 in the fourth quarter of 2025, due to the continued weakness of the US dollar. He also believes that the average gold price will reach around $2,800 in the fourth quarter of 2024. Previously, Citi also predicted that the world gold price will reach $2,800 in the next 3 months.