Opening this morning's trading session (October 12), DOJI Group listed the price of SJC gold at 36.52-36.60 million VND/tael, unchanged in both directions compared to yesterday's trading session.
Gold price today at Bao Tin Minh Chau is listed at 36.53-36.59 million VND/tael, unchanged in both directions compared to the same time yesterday. Gold price of smooth round Quotation Dragon Gold Thang Long is trading at: 35.57- 35.82 million VND/tael (buy in - sell out), an increase of 200,000 in both directions compared to yesterday's trading session.
At Phu Nhuan Jewelry Joint Stock Company (PNJ), the price of SJC gold bars listed in Hanoi was at 36.52-36.60 million VND/tael (buy in - sell out), an increase of 20 thousand VND in both directions compared to the same time in yesterday's trading session.
The world gold price (spot gold) is currently listed at 1,292.90 - 1,293.90 USD/ounce (buy - sell).
9999 gold price for December delivery on the New York Comex decreased by 2.1 USD to 1,291.10 USD/ounce.
The FOMC's report was released without any surprising data. This does not affect gold and silver prices too much. The minutes of the FOMC meeting showed many opinions supporting a 0.25% interest rate increase in December.
Geopolitical tensions continue to escalate as US President Donald Trump affirmed that all diplomatic efforts have failed and that there is only one effective solution for North Korea. This statement has many investors worried that the US may use military measures against North Korea. This move benefits gold.
One of the reasons for gold prices to increase for 4 consecutive sessions this week is the weakening of the USD. A weakening of the dollar will create momentum for gold prices to increase and vice versa.
The Fed's rate of interest rate hike in December is expected to increase to nearly 90%. Analysts also predict that the European Central Bank (ECB) may tighten its bond purchasing program from 2018, showing a general trend of global central banks in tightening monetary policy.
The first resistance level was recorded as 1,296.70 USD and then 1,300 USD. The first support level was 1,284.60 USD and then the low of 1,277.70 USD this week.
On the foreign exchange market, the central exchange rate announced by the State Bank on the morning of October 11 was 22,453 VND/USD, down 6 VND compared to the previous session. Vietcombank's USD exchange rate today is listed at 22,685 - 22,755 VND/USD (buy - sell), up 5 VND in both directions compared to the previous trading session.
