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Gold price today October 25, 2024: World gold price decreased about 1%

Hung Cuong DNUM_CFZBAZCACE 05:30

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:

DOJI listed the price of 9999 gold today 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 - sell). Mi Hong gold price 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).

Giá vàng hôm nay 25/10/2024: Vàng thế giới giảm khoảng 1%

The latest gold price list today, October 25, 2024 is as follows:

Gold price today
October 25, 2024
(million dong)
Difference
(thousand dong/tael)
Buy
Sell
Buy
Sell
SJC in Hanoi
87
89
--
DOJI Group
87
89
-
-
Red Eyelashes
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.
TypeBuySell
AVPL/SJC HN87,00089,000
AVPL/SJC HCM87,00089,000
AVPL/SJC DN87,00089,000
Raw material 9999 - HN87,90088,300
Raw material 999 - HN87,80088,200
AVPL/SJC Can Tho87,00089,000
2.PNJ- Updated: 10/25/2024 05:10 - Source website time - ▼/▲ Compared to yesterday.
TypeBuySell
HCMC - PNJ87,60088,900
HCMC - SJC87,00089,000
Hanoi - PNJ87,60088,900
Hanoi - SJC87,00089,000
Da Nang - PNJ87,60088,900
Da Nang - SJC87,00089,000
Western Region - PNJ87,60088,900
Western Region - SJC87,00089,000
Jewelry gold price - PNJ87,60088,900
Jewelry gold price - SJC87,00089,000
Jewelry gold price - SoutheastPNJ87,600
Jewelry gold price - SJC87,00089,000
Jewelry gold price - Jewelry gold pricePNJ 999.9 Plain Ring87,600
Jewelry gold price - Jewelry gold 999.987,50088,300
Jewelry gold price - Jewelry gold 99987,41088,210
Jewelry gold price - Jewelry gold 9986,52087,520
Jewelry gold price - 916 gold (22K)80,48080,980
Jewelry gold price - 750 gold (18K)64,98066,380
Jewelry gold price - 680 gold (16.3K)58,79060,190
Jewelry gold price - 650 gold (15.6K)56,15057,550
Jewelry gold price - 610 gold (14.6K)52,61054,010
Jewelry gold price - 585 gold (14K)50,41051,810
Jewelry gold price - 416 gold (10K)35,48036,880
Jewelry gold price - 375 gold (9K)31,86033,260
Jewelry gold price - 333 gold (8K)27,89029,290
3. SJC - Updated: 10/25/2024 05:10 - Source website time - ▼/▲ Compared to yesterday.
TypeBuySell
SJC 1L, 10L, 1KG87,00089,000
SJC 5c87,00089,020
SJC 2c, 1c, 5c87,00089,030
SJC 99.99 gold ring 1 chi, 2 chi, 5 chi87,00088,500
SJC 99.99 gold ring 0.3 chi, 0.5 chi87,00088,600
Jewelry 99.99%86,90088,200
Jewelry 99%85,32687,326
Jewelry 68%57,63160,131
Jewelry 41.7%34,43336,933

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 a.m. 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.

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 to store during this occasion also contributes to the increase in gold prices.

World gold prices fell about 1% from the peak of $2,758/ounce on the afternoon of October 23 due to the stronger USD and rising US Treasury bond yields. Kitco pointed out that the gold price fell mainly due to speculators selling to take profits.

Part of the reason for the price drop was a report showing that 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 the 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 large amounts of gold, which shows concerns about the US election.

He also observed that market participants are reluctant to sell gold amid rising prices. Ghali also noted that central banks have 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 the price 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 purchases will continue.

UBS also believes that investors still have many opportunities to increase their investment in gold, with the view that the market has not invested enough in this precious metal and there is still room to expand investment.

Gold Price Forecast

Sprott Asset Management believes that 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.

Hung Cuong