Gold price today, September 12: Gold dows without bottom, investors sell off

    Lan Hương |

    Gold prices today, September 12, fell sharply by VND280 thousand/tael, investors continued to sell. The USD increased, stocks recovered, pushing world gold prices down more than 15 USD/ounce, falling deep to the bottom 1 week ago.

    Opening this morning's trading session (September 12), DOJI Group listed the price of SJC gold at 36.72 - 36.80 million VND/tael (buy - sell), down 180 thousand VND for buying and down 200,000 VND for selling compared to yesterday's trading session.

    SJC gold price at Bao Tin Minh Chau is listed at 36.63 - 36.70 million VND/tael, down 280 thousand VND for buying and 290 thousand VND for selling compared to the same time yesterday. Price of plain round gold rings Dragon Thang Long gold is trading at: 36.01 - 36.46 million VND/tael (buy - sell), down 330 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 36.55 - 36.75 million VND/tael (buy - sell), down 280 thousand VND in both directions compared to the same time in yesterday's trading session.

    The world gold price is currently listed at 1325 - 1326 USD/ounce (buy - sell).

    9999 gold price for December delivery on the New York Comex decreased by 15.7 USD to 1335.40 USD/ounce.

    The first resistance level was recorded at a high level during the day at 1344.60 USD and then 1350 USD. The first support level was confirmed at the current low of 1335.20 USD and then 1331 USD.

    World gold prices have been adjusted down quite strongly while the USD has recovered after the DPRK did not conduct missile testing during the country's national anniversary (September 9), thereby reducing the attractiveness of safe-haven assets such as gold.

    Economic information in the past 8 months of the European region has surprised experts and investors. As the European economy grew more than expected, political risks in the region did not have much impact on the economy. The Euro has gained 15% against the USD.

    Fed policymakers are expected to discuss the issue of narrowing the accounting balance sheet at the 2-day meeting from September 19 in Washington. Investors now believe that the Fed will keep interest rates unchanged this month.

    This week, investors will pay attention to US inflation data to assess the possibility and timing of the Fed raising interest rates.

    On the foreign exchange market, the central exchange rate announced by the State Bank on the morning of September 12 was VND22,434/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.

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