World gold prices on October 1 hit a record high for the third consecutive session, while the USD weakened and increased concerns about important economic data being delayed due to the US Government's closure.
In the early morning trading session of October 1 (Vietnam time), spot gold prices increased by 0.2%, closing at 3,866 USD/ounce, after reaching a new record of 3,875.53 USD/ounce - marking the third consecutive session of the precious metal reaching a peak. Meanwhile, the USD index fell 0.3% to 97.49 points, its lowest level in a week.
The US government's shutdown immediately affected the release of economic data. The US Bureau of Labor Statistics has announced that it will stop issuing reports, including " Nonfarm Payrolls" which is considered by the Federal Reserve (Fed) as an important basis for deciding on the interest rate roadmap. Nonfarm Payrolls (NFP) is a measure in the monthly employment report of the US Bureau of Labor Statistics, which released the number of people employed in the US last month (excluding the agricultural sector).
If this situation continues for 2 weeks, key data such as the Consumer Price Index (CPI) and the Producer Price Index (PPI) may also be delayed.
This development further strengthens the role of "hiding assets" of gold. In September, gold prices recorded their strongest increase since January 2012, with an increase of more than 47% since the beginning of the year - towards the strongest growth year since 1979.
Goldman Sachs analysts predict that with sustained demand from central banks of countries and the Fed's monetary easing policy boosting capital flows into gold ETFs, gold prices could reach $4,000/ounce by mid-2026.
Investors are currently closely monitoring developments in Washington, as political instability and the lack of important economic data could increase the volatility of the global financial market - a factor that is often favorable for gold.
Regarding domestic gold prices, in the early afternoon of October 1, the price of SJC gold bars was listed at 136-138 million VND/tael (buy in - sell out).
