Domestic gold prices were little changed at the open on the morning of 16/10 compared with the previous session's close. SJC gold bars were most commonly quoted at 143.3 million dong per tael, while gold rings were priced at 139.8–142.8 million dong at SJC and PNJ, 139–143 million at DOJI and Bảo Tín Mạnh Hải, and 138.2–142.2 million at Bảo Tín Minh Châu. Internationally, spot gold fell 0.37% to around USD 4,154 an ounce, after rising 1.6% in the previous session on a weaker US dollar and lower US Treasury yields. US CPI and PPI both came in strong, lifting expectations of a Fed rate hike in October, but comments from some Fed officials eased those expectations somewhat; CME FedWatch puts the odds of a late-October hike at about 29%.
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Original headline: Giá vàng nhẫn trơn, vàng miếng sáng 16/10 tại SJC, PNJ, DOJI, Bảo Tín Minh Châu và Bảo Tín Mạnh Hải
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- Plain Gold Rings and Gold Bars Drop Across SJC, PNJ, DOJI, Bảo Tín Minh Châu and Bảo Tín Mạnh Hải on 18/10
On the morning of 18/10, domestic gold prices at most brands were flat against the previous session's close but down 1.2 million VND per lượng from the end of last week. SJC and PNJ listed gold rings at 140.1–143.1 million VND per lượng, while SJC gold bars were commonly quoted at 140.6–143.6 million VND per lượng (buy–sell). Internationally, spot gold closed the week at 4,164 USD per ounce, down 0.7%, after dipping to 4,073 USD midweek when US September CPI came in above forecasts, then recovering as the dollar and Treasury yields weakened. A Kitco survey of 12 experts found 4 expecting gains, 2 leaning toward declines, and the rest undecided or expecting sideways trading, while 45% of 139 retail investors surveyed expected a drop and 43% expected a rise.
- Gold ring and gold bar prices on 17/10 at SJC, PNJ, DOJI, Bảo Tín Minh Châu and Bảo Tín Mạnh Hải
From 9:15 a.m. on 17/10, domestic gold prices fell across the board from the previous session: gold rings dropped 200,000–400,000 VND per tael, and SJC gold bars fell 300,000–400,000 VND per tael on the buy side. SJC quoted rings at 140.1–143.1 million VND per tael, while Bảo Tín Minh Châu's rings were priced at 138.4–142.4 million VND after a 400,000 VND drop. Spot gold closed the week at USD 4,164 per ounce, down 0.12%, as investors awaited Federal Reserve policy after higher-than-expected inflation data. A producer price report on 15/10 showed September prices rising at their fastest pace in several years, and the CME FedWatch tool implied about 90% odds of a Fed rate hike in December. Capital Economics analyst Hamad Hussain forecast gold could edge lower for the rest of the year.
- Gold Ring and SJC Bar Prices Fall at SJC, PNJ, DOJI, Bảo Tín Minh Châu and Bảo Tín Mạnh Hải on October 17
Domestic gold prices fell across major Vietnamese brands in the 9:15am update on October 17, with ring gold down 200,000–400,000 VND per tael and SJC bar gold down 300,000–400,000 VND per tael on the buy side. SJC quoted ring gold at 140.1–143.1 million VND per tael and SJC bars at 140.6–143.6 million VND. Internationally, spot gold closed the week at $4,164 per ounce, down 0.12%, as investors awaited Federal Reserve policy signals after higher-than-expected inflation data. Markets priced about a 90% chance of a Fed rate hike in December, and one analyst expects gold to edge lower for the rest of the year.
- Plain gold ring and gold bar prices on the afternoon of October 18 at SJC, PNJ, DOJI, Bảo Tín Minh Châu and Bảo Tín Mạnh Hải
Domestic gold prices at 17:00 on October 18 were mostly flat across brands, except Bảo Tín Minh Châu, which rose 200,000 VND per lượng in both buy and sell prices. SJC and PNJ quoted gold rings at 140.1–143.1 million VND per lượng, while SJC gold bars sold at about 143.6 million VND per lượng, and most brands were down 1.2 million VND from the previous week. Spot gold closed the week at US$4,164 per ounce, down 0.7%. A Kitco News survey of 12 experts found 33% expected a rise, 17% a fall and 50% no clear trend, while 139 individual investors split 45% for a fall and 43% for a rise.
- Gold ring and bar prices fall across the board in the afternoon session on October 17 at SJC, PNJ, DOJI, Bao Tin Minh Chau and Bao Tin Manh Hai
In the afternoon session on October 17, domestic gold prices kept falling from the previous session across the surveyed brands: gold rings dropped 200,000-400,000 VND per tael on both buy and sell sides, while SJC gold bars fell 300,000-400,000 VND per tael on the buy side and 300,000 VND on the sell side. SJC quoted gold rings at 140.1-143.1 million VND per tael and gold bars at 140.6-143.6 million. Internationally, spot gold closed the week at $4,164 an ounce, down 0.12%, as investors weighed the Federal Reserve's rate outlook after a series of higher-than-expected inflation readings. TD Securities' Bart Melek said gold is trading in a narrow range near the low end of its support, reflecting uncertainty over the Fed's next steps.
- Gold ring and gold bar prices rise across the board on the evening of 16 October at SJC, PNJ, DOJI, Bao Tin Minh Chau and Bao Tin Manh Hai
Domestic gold prices closed the 16 October session higher at all surveyed brands: gold rings rose 500,000-600,000 VND per lượng and SJC gold bars rose 600,000 VND per lượng on both buy and sell sides. SJC gold bars were quoted at 140.9-143.9 million VND per lượng at several brands, and SJC gold rings at 140.4-143.4 million VND. Internationally, spot gold traded around $4,155 an ounce, down 0.35% from the prior close, after rising 1.6% on 15 October on a weaker US dollar and lower US Treasury yields. A 13:45 update showed domestic prices mostly stable, though Bao Tin Minh Chau raised its gold ring prices on both sides by 400,000 VND per lượng.
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