Afternoon of October 15: Ring Gold Prices Surge Past 151 Million VND per Tael

During today’s trading session, gold prices for both gold bars and gold rings surged significantly.

At Bao Tin Minh Chau, the price of gold rings reached 148.1 – 151.1 million VND per tael, a notable increase of approximately 4 million VND per tael compared to the morning.

Other companies also adjusted their gold ring prices, with an average increase of 2 million VND per tael. Specifically, PNJ listed at 144.2 – 147.2 million VND per tael; SJC at 143.7 – 145.9 million VND per tael; DOJI at 144.2 – 147.2 million VND per tael; and Bao Tin Manh Hai at 145.6 – 147.4 million VND per tael.

For gold bars, both Bao Tin Minh Chau and DOJI listed prices at 145.6 – 147.6 million VND per tael, while PNJ and SJC maintained prices around 146 – 148 million VND per tael.

In the global market, at the time of survey, the spot gold price also rose sharply to $4,196 per ounce, up $55 from the previous session’s close.

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This morning, the price of Kim Gia Bao gold rings at Bao Tin Manh Hai was listed at 143.7 – 146 million VND per tael, an increase of 400,000 VND per tael on the buying side, with the selling price remaining unchanged from yesterday.

Meanwhile, gold ring prices at other companies remain unchanged: Bao Tin Minh Chau at 143.6 – 146.6 million VND per tael; PNJ at 142.5 – 145.5 million VND per tael; SJC at 142.3 – 144.5 million VND per tael; and DOJI at 143.9 – 145.9 million VND per tael.

For gold bars, Bao Tin Minh Chau currently lists at 144.9 – 146.4 million VND per tael, while other brands like PNJ, SJC, and DOJI are listed around 144.1 – 146.1 million VND per tael.

In the global market, spot gold is currently trading at $4,160 per ounce, up $19 from the previous session.

The December gold futures contract previously set a new record at $4,190.9 per ounce but has since cooled, currently trading around $4,151.8 per ounce. This indicates a pause in gold’s upward momentum after a series of record-breaking sessions.

Gold prices fluctuate amid global stock market declines on October 14th, following China’s sanctions on five subsidiaries of South Korea’s Hanwha Ocean shipping conglomerate in the U.S., with warnings of further retaliatory measures in the maritime sector. This escalation in the trade war between the world’s two largest economies has heightened global investor uncertainty.

In the U.S., the government entered its 14th day of partial shutdown, with a lack of significant economic data. Investors are closely watching Federal Reserve Chair Jerome Powell’s speech at the National Association for Business Economics (NABE) annual meeting in Philadelphia, anticipating clearer signals on monetary policy. The Fed is expected to cut interest rates by another 0.25 percentage points this month, following a similar move in September, with a potential additional cut in December.

In the oil market, Nymex crude oil prices fell to a 4.5-month low of $57.68 per barrel, after the International Energy Agency (IEA) reported a more severe than expected oversupply situation.

In other markets, the U.S. dollar index rose slightly, and the yield on 10-year U.S. Treasury bonds hovered around 4.01%.

Technically, Kitco experts note that gold retains short-term upward momentum, though with potentially diminishing strength. Buyers aim to sustain prices above the $4,300 per ounce resistance level, while sellers target the critical $3,900 per ounce support level. Immediate support is at $4,105 – $4,100 per ounce, with resistance at $4,190 – $4,200 per ounce.