Opening this morning's trading session (October 11), DOJI Group listed the price of SJC gold at 36.52-36.60 million VND/tael, an increase of 60 thousand VND for buying and unchanged for selling compared to yesterday's trading session.
SJC gold price at Bao Tin Minh Chau was listed at 36.53-36.59 million VND/tael, up 10 thousand VND in both directions compared to the same time yesterday. Price of plain round gold rings Dragon Thang Long gold is trading at: 35.37- 35.82 million VND/tael (buy in - sell out), unchanged 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 36.50-36.58 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 1287.70 - 1288.70 USD/ounce (buy - sell).
9999 gold price for December delivery on the New York Comex increased by 7.7 USD to 1292.70 USD/ounce.
Gold prices today increased their 2-week high and are approaching a strong resistance level of 1,300 USD/ounce. Experts say the main reason for the sharp increase in gold prices is due to concerns about increasing geopolitical tensions. Especially before US President Donald Trump makes a statement on the North Korean issue during his trip to Asia next week. In addition, US Secretary of Defense James Mattis has told military officers to be ready to fight in case the US- DPRK negotiations fail.
Meanwhile, the European Union is worried and the European stock market is shaking as Catalonia may leave Spain.
A weak USD is also the reason for the increase in gold prices. In addition, the rate of the Fed's prediction of raising interest rates in December will 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 zone was recorded at the current high of 1,296.70 USD and then 1,300 USD. The first support level was confirmed at the current low of 1,284.60 and then the lowest level of the week at 1,277.70 USD.
On the foreign exchange market, the central exchange rate announced by the State Bank on the morning of October 11 was 22,459 VND/USD, down 8 VND compared to the previous session. Vietcombank's USD exchange rate today is listed at 22,680 - 22,750 VND/USD (buy - sell), down 10 VND in both directions compared to the previous trading session.
