Opening this morning's trading session (October 2), DOJI Group listed the price of SJC gold at 36.49-36.56 million VND/tael, unchanged in both directions compared to yesterday's trading session.
SJC gold price at Bao Tin Minh Chau is listed at 36.44 - 36.50 million VND/tael, down 60 thousand VND for buying and down 50 thousand VND for selling compared to the same time yesterday. Gold price of smooth round Quotation Dragon Gold Thang Long is trading at: 35.38 - 35.83 million VND/tael (buy - sell), down 60 thousand VND in both directions compared to yesterday.
At Phu Nhuan Jewelry Joint Stock Company (PNJ), the price of SJC gold bars was listed in Hanoi at 36.44 - 36.52 million VND/tael (buy - sell), down 30 thousand VND in both directions compared to the same time in yesterday's trading session.
The world gold price (spot gold) is currently listed at 1275.20 - 1276.20 USD/ounce (buy - sell).
9999 gold price for December delivery on the New York Comex decreased by 3.9 USD to 1284.80 USD/ounce.
In September alone, gold prices fell 3%, the biggest decline since the beginning of 2017 and the biggest decline since November 2016, after the USD increased sharply.
However, the overall third quarter of gold prices increased by 3.3%, mainly due to geopolitical tensions in North Korea, causing investors to seek gold as a safe haven.
Gold prices are already very sensitive to interest rates. The US Federal Reserve (Fed) is likely to raise interest rates in December and is forecasting 3 interest rate increases in 2018, each increase by 0.25%. The Fed's announcement immediately supported the USD's recovery and created pressure for gold to decrease.
The Euro fell 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 of the Dollar while causing gold as a safe haven to decline.
On the foreign exchange market, the central exchange rate announced by the State Bank on the morning of October 2 was VND22,468/USD, down 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.
