The domestic gold price this morning (June 7) at 9:00 a.m. was listed by Doji Jewelry Group in Hanoi at: 37.12 million VND/tael (up 20,000 VND for buying) and 37.22 million VND/tael (down 30,000 VND for selling) compared to the previous session.
Bao Tin Minh Chau Jewelry Company listed the price at: 37.26 million VND/tael (down 200,000 VND for buying) and 37.37 million VND/tael (down 230,000 VND for selling) compared to the session on June 5.
SJC gold price in the free market reversed with world gold price increased quite well. Specifically, at 8:35 a.m., the price of SJC gold on the free market in Ho Chi Minh City was trading around 37.07 - 37.27 million VND/tael.
In Hanoi and Da Nang, SJC gold price is trading around 36.07 - 37.29 million VND/tael. The above markets all increased by VND20,000/tael compared to the closing price of the previous session. The difference between buying and selling is 200,000 - 220,000 VND/tael.
World gold price as of early morning of June 11 (Vietnam time), world spot gold price stood at 1,328 USD/ounce.
World gold prices in the Asian market are trading around 1,329 USD/oz, down over 4 USD compared to the same trading time yesterday morning.
The price of gold delivered in June 2019 on the New York Comex was at 1,330 USD/ounce.
Gold prices today are 2.0% higher (25.5 USD/ounce) than in early 2018. World gold converted to USD is priced at 36.8 million VND/tael, excluding taxes and fees, about 400,000 VND lower than domestic gold.
Experts say the decline in world gold prices is due to private oil traders taking profits after a series of strong price increases; at the same time, the US has stopped taxing Mexico's goods.
Analysts said: Mr. Trump has given a signal that if Mr. Xi Jinping does not attend the G20 Summit for emerging and Developing economies (G20) in Japan later this month, the US will immediately impose another 300 billion USD in tariffs on Chinese goods. If everything goes as it is, gold could reverse upward to reach 1,350 USD/oz.
At the same time, if Mr. Tap attends the G20 Summit and the parties focus on solving trade problems, gold may lose the 1,300 USD/z mark.
Thus, all remaining decisions depend on investors carefully considering market developments to have an investment direction or make a profit, ensuring capital safety.
