Gold on the rise again
Gold on the rise again
Gold opened the October 4 session with a jump in both global and domestic prices, with the domestic prices increasing by VND700,000 ($30.43) per ounce while the USD is subject to heavier fluctuations. 
On the morning of October 4, the global price of gold was $1,508 per ounce, up $8 per ounce (both selling and buying price) against the day before.
Phu Quybuys SJC gold at VND41.85 million ($1,819.57) per ounce and sells it at VND42.25 million ($1,836.96) per ounce, an increase of VND300,000 ($13.04) in both buying and selling compared to the session on October 3.
SJC gold is sold by Saigon Jewelry Co., Ltd. for VND42.05 million ($1,828.26) per ounce (VND200,000 – $8.69 more than a day before), and is bought at VND41.7 million ($1,813.04) per ounce (up VND150,000 – $6.52 compared to October 3).
Meanwhile, on the session on October 3, the domestic price of gold sold by Doji was VND41.8 million ($1,817.39) per ounce (buy), up VND150,000 ($6.52) and VND42.2 million ($1,834.78) per ounce (sell), increasing VND50,000 ($2.17).
World prices rebounded as investors are becoming worried about the prospect of a global economic downturn after the US announced production activities in September at the lowest level in 10 years. Before that, Europe also released disappointing results that were the lowest in seven years.
In the currency market, the USD rate on October 4 listed by the State Bank of Vietnam was VND23,159.
At commercial banks, the trading price of the USD showed a slight increase compared to the previous trading sessions.
Specifically, at Vietcombank (headquarters) the USD is listed at VND23,115-23,265, VND5 more (buy and sell) compared to the session yesterday.
Tien Phong Bank listed the USD at VND23,084-23,260. This buy price remained unchanged while sell price fell by VND10.
