Gold price today, September 18: "Falling" to bottom 2 weeks before the FED meeting

    Lan Hương |

    Gold prices today, September 18, " plummeted" to a 2-week low in the context of a strong increase in the USD. Speculation about the Fed being able to tighten monetary policy has also affected investor sentiment.

    Opening this morning's trading session (September 18), DOJI Group listed the price of SJC gold at 36.70 - 36.78 million VND/tael, an increase of 80,000 VND for buying and a decrease of 20,000 VND for selling compared to yesterday's trading session.

    SJC gold price at Bao Tin Minh Chau was listed at 36.72 - 36.78 million VND/tael, up 60 thousand in both directions compared to the same time last weekend. Gold price of smooth round Quotation Dragon Gold Thang Long is trading at: 36.02 - 36.47 million VND/tael (buy - sell), down 110,000 VND in both directions compared to last weekend.

    At Phu Nhuan Jewelry Joint Stock Company (PNJ), the price of SJC gold bars was listed at 36.61 - 36.80 million VND/tael (buy - sell), an increase of 10 thousand VND in both directions compared to the same time in yesterday's trading session.

    The world gold price is currently listed at 1318 - 1319 USD/ounce (buy - sell).

    9999 gold price for December delivery on the New York Comex decreased by 0.4% to 1320.60 USD/ounce.

    The USD stayed at a 7-week high against the Yen (Japan) in the trading session on Monday morning at the beginning of the week. Asian stocks and the US dollar both rose strongly.

    Military tensions in North Korea continue to be a factor affecting gold prices in the coming time. The US representative gave a strong statement to the United Nations saying This is not an issue between the US and North Korea. This is a problem between the world and North Korea.

    Recently, according to sources from Japan and South Korea, the North Korean missile launched into the Pacific Ocean, about 2,000 km from Japan's Hokkaido Island.This event continues to increase tensions after Pyongyang's recent nuclear bomb test.
    The US Federal Reserve (Fed) has set an inflation target of 2% and some gloomy inflation information has led experts to predict that the FED may raise interest rates in the short term.

    US retail sales unexpectedly fell in August and industrial output fell the most since 2009. Hurricane Harvey disrupted operations, suggesting the storm could affect economic growth in the third quarter of 2017.

    On the foreign exchange market, the central exchange rate announced by the State Bank on the morning of September 18 was VND22,439/USD, up 2 VND compared to the previous session. Vietcombank's USD exchange rate today is listed at 22,690 - 22,760 VND/USD (buy - sell), unchanged from the previous trading session.

    Lan Hương
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