Opening this morning's trading session (September 4), DOJI Group listed the price of SJC gold at 36.72-36.82 million VND/tael (buy - sell), an increase of 140 thousand VND for buying and an increase of 160 thousand VND for selling compared to the same time in yesterday's trading session.
SJC gold price at Bao Tin Minh Chau is listed at 36.74 - 36.80 million VND/tael, an increase of 140 thousand VND in both directions compared to yesterday. Price of plain round gold rings Dragon Thang Long gold is trading at: 36.16 - 36.61 million VND/tael (buy - sell), an increase of 240 thousand VND in both directions compared to the previous trading session.
At Phu Nhuan Jewelry Joint Stock Company (PNJ), the price of SJC gold bars was listed at 36.60-36.85 million VND/tael (buy in - sell out), an increase of 110,000 VND for buying and an increase of 170,000 VND for selling compared to the same period a day earlier.
The world gold price is currently listed at 1,333.10 - 1,334.10 USD/ounce.
9999 gold price for December delivery increased by 0.8% to 1,340.90 USD/ounce.
The main reason for the soaring gold price was that on September 3, North Korea announced a successful test of the thermal bomb. Pyongyang called the test a "perfect success", a "mental" step forward to complete the country's nuclear program. Chairman of the National Defense Committee of South Korea Kim Young-woo said the explosive power in North Korea's nuclear test was four to five times stronger than the US nuclear bomb dropped on Nagasaki, Japan in 1945.
The Japanese Yen and government bonds both increased in price as investors looked to gold as a safe haven. The world stock market is expected to fall into a bad state after tense information from North Korea.
Experts are waiting for the message issued by the US Federal Reserve (FED) this Friday, investors expect the FED to delay the interest rate hike until mid-2018, after information on the newly released employment data was lower than expected. This has caused the USD to decrease and gold support to increase in the eyes of investors in the coming time.
Mr. Colin Cieynski - Market Strategy Director of CMC Markets - predicted that gold prices this week will continue to stay strong around the price range of 1,300 - 1,330 USD/ounce".
In the foreign exchange market, the central exchange rate announced by the State Bank on the morning of September 4 was 22,443 VND/USD, unchanged from the previous session. Vietcombank's USD exchange rate today is listed at 22,695 - 22,765 VND/USD (buy - sell), unchanged in both directions compared to the previous trading session.
