Opening this morning's trading session (October 1), DOJI Group listed the price of SJC gold at 36.49-36.56 million VND/tael, down 10,000 VND in both directions compared to yesterday's trading session.
SJC gold price at Bao Tin Minh Chau is listed at 36.50-36.55 million VND/tael, up 40 thousand VND for buying and up 20 thousand VND for selling compared to the same time yesterday. Price of plain round gold rings Dragon Thang Long gold is trading at: 35.44-35.89 million VND/tael (buy in - sell out), down 20 thousand VND in both directions compared to yesterday.
At Phu Nhuan Jewelry Joint Stock Company (PNJ), the price of SJC gold bars listed in Hanoi was at 36.47-36.55 million VND/tael (buy in - sell out), down 10,000 VND in both directions compared to the same time in yesterday's trading session.
The world gold price (spot gold) is currently listed at 1279.40 - 1280.40 USD/ounce (buy - sell).
9999 gold price for December delivery on the New York Comex decreased by 0.2 USD to 1288.90 USD/ounce.
World gold prices decreased slightly due to the pressure of the stronger USD. The precious metal is now heading for the most depreciation month of the year as the US Federal Reserve (Fed) is likely to raise interest rates in December by one day.
The US dollar has risen and is on track for its biggest weekly gain this year as investors closely monitor President Donald Trump's tax plan and the Fed's policy outlook.
The euro fell on Monday after German Chancellor Angela Merkel was re-elected for a fourth term in the federal election on September 24. Ms. Merkel's election victory and the lack of new developments between the US and North Korea have supported the increase in the price of the dollar while causing gold as a safe haven to decline.
The US Federal Reserve's meeting last week forecast that in 2018, there will be 3 interest rate increases, each increase by 0.25%. The Fed's announcement immediately supported the USD's recovery and created pressure for gold to decrease.
In addition, gold declined also due to better-than-expected US economic information. New orders for US-made goods increased in August by 1.7% while the expectation was 1%. That shows the strength of the US economy despite the impact of two storms, Harvey and Irma.
In the foreign exchange market, the central exchange rate announced by the State Bank on the morning of October 1 was VND22,470/USD, unchanged from the previous session. Vietcombank's USD exchange rate today is listed at 22,690 - 22,760 VND/USD (buy - sell), down 5 VND compared to the previous trading session.
