The domestic gold price this morning (June 14) at 9:00 a.m. was listed by Doji Jewelry Group in Hanoi at: 37.33 million VND/tael (up 160,000 VND for buying) and 37.43 million VND/tael (up 160,000 VND for selling) compared to the previous session.
Bao Tin Minh Chau Jewelry Company listed at: 37.21 million VND/tael (up 50,000 VND for buying) and 37.31 million VND/tael (up 60,000 VND for selling) compared to the session on June 13.
Saigon Jewelry Company listed the price of SJC gold at 37.20 million VND/tael (buy) and 37.42 million VND/tael (sell), unchanged in both buying and selling directions compared to the end of the trading session on June 13.
SJC gold price on the free market in Ho Chi Minh City is trading around 37.2 - 37.5 million VND/tael. In Hanoi and Da Nang, SJC gold price is trading around 37.2 - 37.52 million VND/tael.
The above markets are all listed at the same price compared to the closing price of the previous session. The difference between buying and selling is 200,000 - 220,000 VND/tael.
World gold prices closed the trading session in the US market early this morning (Hanoi time) to 1,344 USD/oz, up more than 10 USD/oz compared to the close of the previous session.
Opening session this morning, at 8:20 (Hanoi time), world gold price in the Asian market was trading around 1,342 USD/oz, up over 10 USD compared to the same trading time yesterday morning.
The price of gold delivered in August 2019 on the New York Comex was at 1,339 USD/ounce. Gold prices today are 2.5% higher (32.5 USD/ounce) than in early 2018.
Investors also look to gold with the belief that the US Federal Reserve (Fed) will soon cut interest rates and thereby pull the USD down. This possibility became even more apparent after the US Department of Labor announced that US consumer prices only increased slightly in May.
Some forecasts say that the possibility of the Fed cutting interest rates in July 2019 has reached more than 80%. Currently, the US central bank is holding interest rates at 2.25% - 2.5%.
According to analysts, the increase in gold prices was due to the attack of two tankers in the Gulf of Oman, oil prices increased by more than 4% per month. The Russian president said that US-Russia relations are getting worse.
Meanwhile, China has called on people not to buy USD, Google is looking to move its headquarters out of China. The above moves of major countries are raising concerns that economic and political tensions are escalating and there is no way out.
Investors also look to gold with the belief that the US Federal Reserve (Fed) will soon cut interest rates and thereby pull the USD down. This possibility became even more apparent after the US Department of Labor announced that US consumer prices only increased slightly in May.
Some forecasts suggest that the possibility of the Fed cutting interest rates in July 2019 has reached more than 80%. Currently, the US central bank is holding interest rates at 2.25% - 2.5%.
