(TBTCO) – This morning, the price of gold on the world market was pushed past the threshold of 2,000 USD/ounce after the Fed decided to keep interest rates unchanged from 5.25% – 5.5% and emphasized that economic growth is slowing down and inflation is increasing. There are signs of “cooling down”. Domestically, brands also simultaneously adjusted the price from 200 to 400 thousand VND/tael.
 |
| Source: Rong Viet Online Services Joint Stock Company VDOS – Updated at 06:54 (December 14, 2023) |
World market
Surveyed at 5:00 a.m. today (Vietnam time), according to Kitco, the spot gold price was at 2,021.105 USD/ounce, an increase of 40,945 USD/ounce compared to the same time yesterday morning.
Converted at the current exchange rate at Vietcombank, world gold costs about 58,401 million VND/tael (excluding taxes and fees). Thus, SJC’s gold bar price is still higher than the international gold price of 14,399 million VND/tael.
Domestic market
In line with the increase in world gold prices, this morning, at 5:30 a.m., on the trading floors, domestic gold brands simultaneously increased from 200 to 300 thousand VND/tael.
What’s different from previous sessions is that this morning, brands adjusted the difference between buying and selling prices almost very little. As for DOJI’s 999 gold, it increased sharply (400,000 VND/tael) on the buying side, and the selling price was less (300,000 VND/tael).
Specific prices of brands are as follows:
SJC gold in Hanoi was listed at 72.8 – 83.82 million VND/tael (buy – sell), an increase of 200 thousand VND/tael in both buying and selling.
DOJI Group’s 999 gold is listed at 72.8 – 73.80 million VND/tael (buy – sell), this brand adjusted to increase 400 thousand VND/tael on the buying side but only increased by 300 thousand VND /quantity in the selling direction.
SJC gold of the PNJ brand is listed at 72.2 – 73.7 million VND/tael (buy – sell), an increase of 200 thousand VND/tael in both buying and selling.
Vietinbank Gold’s SJC gold listed at 72.8 – 73.82 million VND/tael (buying – selling) also increased by 200 thousand VND/tael in both buying and selling directions.
SJC gold price at Bao Tin Minh Chau Co., Ltd. was also traded at 72.93 – 73.80 million VND/tael (buying – selling), increasing by 260 thousand VND/tael on the buying side and 250 thousand VND/tael on the buying side. thousand VND/tael in the selling direction.
At Bao Tin, Manh Hai is being traded at 72.8 – 74 million VND/tael (buying – selling), an increase of 300 thousand VND/tael in both buying and selling directions.
At Mi Hong Jewelry Company, SJC gold price is at 72.9 – 73.6 million VND/tael (buying – selling), increasing 300 thousand VND/tael on the buying side and 200 thousand VND/tael on the buying side. quantity on the selling side.
Forecast
“The Fed’s acknowledgment of continued subdued inflationary pressures has increased expectations for rate cuts, sending yields and the dollar sharply lower, but has spurred push gold prices up.
Ridge believes that gold’s current upward trend will be a sustainable price increase.
Forexlive.com chief currency strategist Adam Button noted that the Fed has moved closer to market expectations and this suggests the market is moving in the right direction.
After the Fed meeting, the market will turn its attention to the policy meetings of the European Central Bank and the Bank of England that will take place on Monday. These meetings are expected to have an impact on the future. orbit of gold./.
