(TBTCO) – At the beginning of this morning’s trading session, on the world market, the price of gold continued to decrease by 8.56 USD/ounce compared to the previous session, this is the second consecutive decrease session for precious metals. Domestically, brands still adjusted slightly higher and kept the mark above 74 million VND/tael.
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| Source: Rong Viet Online Services Joint Stock Company VDOS – Updated at 06:26 (December 6, 2023) |
World market
Surveyed at 5:30 a.m. this morning (Vietnam time), according to Kitco, spot gold price was at 2,019.14 USD/ounce, down 8.56 USD/ounce compared to the previous session.
Converted at the current exchange rate at Vietcombank, world gold costs about 58,369 million VND/tael (excluding taxes and fees). Thus, SJC’s gold bar price is still higher than the international gold price of 14,831 million VND/tael.
Domestic market
In contrast to the decline in world gold prices, this morning, on trading floors, domestic gold prices were still adjusted by businesses to increase from 30 to 200 thousand VND/tael. DOJI Group’s 999 gold alone is in the opposite direction, adjusted down from 100 to 200 thousand VND/tael (buy – sell).
Specific prices of the brands are listed as follows:
SJC gold in Hanoi was listed at 73.2 – 74.42 million VND/tael (buying – selling), an increase of 200,000 VND/tael on the buying side and 90,000 VND/tael on the selling side.
DOJI Group’s 999 gold is listed at 72.8 – 74.1 million VND/tael (buying – selling), down 100 thousand VND/tael on the selling side.
PNJ brand gold is listed at 73.2 – 74.3 million VND/tael (buy – sell), this brand still maintains the same price as yesterday.
Vietinbank Gold’s SJC gold was listed at 73.2 – 74.42 million VND/tael (buy – sell), an increase of 200 thousand VND/tael in both buying and selling.
At Bao Tin Minh Chau, the price of SJC gold bars is listed by the brand at 73.2 – 74.18 million VND/tael (an increase of 150 thousand VND/tael on the buying side and 30 thousand VND/tael on the selling side.
JSC gold at Bao Tin Manh Hai was also listed at 73.2 – 74.62 million VND/tael, an increase of 200 thousand VND/tael on the buying side and 120 thousand VND/tael on the selling side.
Mi Hong brand’s JSC gold is listed at 73 – 74 million VND/tael. This brand has not adjusted on the buying side but increased 100 VND/tael on the selling side.
Forecast
Although in the short term, gold is under pressure from a slightly recovering USD and falling oil prices, according to technical analysis, gold prices tend to go up quite strongly. In the long term, it is difficult for the USD to avoid a downward trend when the US Federal Reserve (Fed) will soon reverse its monetary policy.
Gold continues to be considered a safe investment channel in an uncertain world and central banks of countries continue to promote purchases of this precious metal.
In the Middle East, the conflict continues to escalate. This is a supporting factor that makes it difficult for gold to fall deeply, even in the short term./.
