(TBTCO) – After the downward adjustment, the domestic gold price turned up sharply again with the highest increase of 500,000 VND/tael. World gold peaked at an all-time high of 2,071 USD/ounce.
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| Illustration. |
Domestic market
After the downward adjustment, the domestic gold price turned up sharply again with the highest increase of 500,000 VND/tael. Currently, the prices of gold bars for brands are listed specifically as follows:
SJC gold price in Hanoi and Da Nang area is listed at 72.7 million VND/tael purchased and 74.02 million VND/tael sold. In the city. In Ho Chi Minh City, SJC gold is still buying at the same level as in Hanoi and Da Nang areas but selling is 20,000 VND lower. Thus, compared to yesterday morning, SJC gold price has been adjusted to increase by 400,00 VND on the buying side and 500,000 VND on the selling side.
DOJI in Hanoi area kept the price unchanged in the buying afternoon yesterday morning at 72.3 million VND/tael but adjusted it to increase by 500,000 VND in the selling afternoon to 74 million VND/tael. In the city. In Ho Chi Minh City, gold of this brand is bought at a higher price of 200,000 VND but sold at the same level as in the Hanoi area, an increase of 150,000 VND on the buying side and 500,000 VND on the selling side.
Phu Quy SJC is purchasing gold bars at the price of 72.8 million VND/tael and selling at 73.95 million VND/tael, an increase of 400,000 VND in the buying afternoon and 450,000 VND in the selling afternoon compared to yesterday morning.
PNJ gold bar price is listed at 72.7 million VND/tael purchased and 73.9 million VND/tael sold, an increase of 300,000 VND in both directions. Meanwhile, Bao Tin Minh Chau increased by 480,000 VND on the buying side and 470,000 VND on the selling side to 72.9 million VND/tael and 73.95 million VND/tael, respectively.
World market
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| Gold price fluctuation chart in the past 24 hours. |
At the end of last week, the world gold spot price was around 2,072 USD/ounce, an increase of 4 USD/ounce compared to the transaction at the same time yesterday morning. The price of gold delivered according to the December contract stands around 2,073 USD/ounce.
At the end of the week, with many supporting factors, gold prices increased sharply from 2,001 USD at the beginning of the week to 2,072 USD/ounce, an increase of 71 USD/ounce during the week.
Converted at the current exchange rate at Vietcombank, world gold costs about 59,943 million VND/tael (excluding taxes and fees). Thus, SJC’s gold bar price is still higher than the international gold price of 12,757 million VND/tael.
Forecast
According to predictions of experts and investors, gold prices still have many supporting factors when it is predicted that the US Federal Reserve (Fed) may announce the end of the process of increasing USD operating interest rates right in the coming year. December is here. The USD will continue to weaken, supporting gold prices to increase.
Senior analyst Jim Wyckoff of Kitco Metals Company said that the short-term outlook for gold is still favorable, as the USD is trending down amid forecasts that the Fed will not raise interest rates anymore and may even interest rates will likely be lowered in the spring.
