In an interview with CNBC, Mr. Trump said that he did not accept the way the US Federal Reserve (FED) was approaching monetary policy. The Fed has doubled interest rates this year and is expected to raise interest rates at least once more.
I was not very happy. Because every time the economy goes up, the FED wants to raise interest rates... But I will let them do what they feel is best, Trump said.
Investors believe that President Trump's criticism will not have much impact on the Fed's decisions. However, higher exchange rates are a negative for gold.
The dollar and the stock market fell after Trump's comments, and bond interest rates also fell.
Gold typically falls as the dollar rises, as it is priced in the dollar and is sensitive to dollar movements.
In the world market, the price of gold delivered under wholesale contracts in the night trading session on July 20 (Vietnam time) increased by 11 USD compared to the closing price of the previous trading session, listed at 1,228.6 USD/z.
The domestic gold market price also increased during the trading session.
Specifically, opening this morning (September 21), the price of 1kg SJC gold 1kg of Saigon Jewelry One Member Co., Ltd. was listed at 36,650 - 36.830 million VND/tael, an increase of 120,000 VND/tael compared to the closing price of the previous day.
Meanwhile, the gold price of Doji Group retail in Hanoi was listed at 36,690 - 36,790 million VND/tael (buy - sell), an increase of 100,000 VND/tael compared to the closing price of the previous day.
The price of SJC gold bars of Phu Nhuan Jewelry Joint Stock Company (PNJ) in the Hanoi market was listed at 36,700 (buy) - 36,800, million VND/tael (sell), an increase of 60,000 VND/tael compared to the closing price of the previous trading session.
The price of 9999.9 (24k) of Bao Tin Minh Chau's 9999.9 Thang Long gold price increased by 120,000 VND/tael compared to the closing price of the previous day, listed at 34.090 - 35.540 million VND/tael (buy - sell).
