The reason for the sharp increase in gold prices is that investors are worried about the very tense world political situation, gold is chosen as a safe haven asset. Experts predict that gold prices will continue to increase strongly in the coming time.
Opening this morning's trading session (September 5), DOJI Group listed the price of SJC gold at 36.72 - 36.80 million VND/tael (buy - sell), unchanged in the buying direction and down 20,000 VND in the selling direction compared to the same time in yesterday's trading session.
SJC gold price at Bao Tin Minh Chau is listed at 36.74 - 36.81 million VND/tael, unchanged for buying and increased by 10 thousand VND for selling compared to yesterday. Price of plain round gold rings Dragon Thang Long gold is trading at: 36.19 - 36.64 million VND/tael (buy - sell), an increase of 30 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 36.65 - 36.90 million VND/tael (buy - sell), an increase of 50 thousand VND in both directions compared to the same time a day before.
According to PNJ experts, although domestic gold prices have fluctuated strongly in the past few days, the trading volume of gold bars during the holidays has been quite thin, mostly only small-scale transactions, the total trading volume of gold bars yesterday at PNJ Company only reached over 100 VND, of which the buying rate accounted for 51% and the selling rate accounted for 49%, quite balanced throughout the system.
The world gold price is currently listed at 1,333.60 - 1,334.60 USD/ounce.
9999 gold price for December delivery increased by 0.6% to 1,338.80 USD/ounce.
World gold prices continue to increase and are approaching a 1-year peak, however, the USD has shown signs of slowing down. According to experts, a stable USD is due to investors focusing more on new developments after North Korea's missile launch than paying attention to US monetary and fiscal policies.
Military tensions in North Korea continue to be the main reason supporting gold prices to increase, as investors are worried about finding gold as a safe haven. The US accused North Korea's trading partners of assisting Pyongyang in nurturing its nuclear ambitions.
North Korea's missile test is considered an act of "offensive" to the US. US Secretary of Defense James Mattis warned Pyongyang on Sunday that the US has many military options and that any attacks on the US, Japan or South Korea will be strongly responded to by military.
The US is submitting a petition to the United Nations to request a vote for the Strongest possible sanctions against North Korea.
In the Asian market, stocks continued to " fluctuate" in the low regions in yesterday's trading session after being affected by the shock from the North Korean thermal bomb test.
In the foreign exchange market, the central exchange rate announced by the State Bank on the morning of September 5 was VND 22,439/USD, down 4 VND compared to the previous session. Vietcombank's USD exchange rate today is listed at 22,690 - 22,760 VND/USD (buy - sell), down 5 VND in both directions compared to the previous trading session.
