Gold price today 7.6: Not stopped increasing

    Phương Anh |

    Gold prices continue to increase today (June 7). Precious metals businesses adjusted the increase with a range of about 40,000 - 60,000 VND/tael. In the world, gold prices continued to skyrocket near the 2019 peak due to the weakening of the USD and concerns about global tensions.

    The domestic gold price this morning (June 7) at 9:00 a.m. was listed by Doji Jewelry Group in Hanoi at: 37.05 million VND/tael (up 150,000 VND for buying) and 37.20 million VND/tael (up 200,000 VND for selling) compared to the previous session.

    Bao Tin Minh Chau Jewelry Company listed the price at: 37.05 million VND/tael (up 100,000 VND for buying) and 37.16 million VND/tael (up 100,000 VND for selling) compared to the session on June 5.

    SJC gold price on the free market in Ho Chi Minh City is trading around 36.98 - 37.23 million VND/tael. In Hanoi and Da Nang, SJC gold price is trading around 36.98 - 37.25 million VND/tael.

    The above markets all increased by VND 30,000/tael compared to the closing price of the previous session. Compared to the opening time of the session yesterday morning, the above markets all increased by 180,000 VND/tael. The difference between buying and selling is at 250,000 - 270,000 VND/tael, extending to 50,000 VND/tael compared to yesterday's session.

    World gold prices closed the trading session in the US market early this morning (Hanoi time) at 1,333 USD/oz, up slightly by 1 USD/oz compared to the close of the previous session.

    The price of gold delivered in June 2019 on the New York Comex was at 1,339 USD/ounce.

    Gold prices today are 2.3% higher ($30.5/ounce) than in early 2018. World gold converted to USD is priced at 37.0 million VND/tael, excluding taxes and fees, about 200,000 VND lower than domestic gold.

    Georgette Boele, an analyst at ABN AMRO, said the Bank of the Netherlands strongly believes that the increase in gold prices is due to a weak USD, not due to safe-haven demand for precious metals. ABN AMRO still has a very positive view of the gold price outlook.

    "The US dollar is struggling to increase in the current risk environment. The reason is that the financial market is concerned about policy uncertainty accompanied by President Trump's increasingly erratic trade policy.

    Therefore, the USD is likely to be damaged as the long-term reputation of the US is weakening. This may not be reflected in the EUR/USD pair, as the euro has its own challenges, but it can be seen when compared to the Japanese yen, the Swiss francs and the gold price."

    Phương Anh
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    Phương Anh |

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    Phương Anh |

    Gold prices today, June 5, continue to move positively, gold widens the waiting distance for new waves. Precious metals trading enterprises adjusted the increase down with a margin of 10,000 - 30,000 VND per quantity. Meanwhile, world gold prices maintained a slight increase, far exceeding the 1,300 USD/ounce level.

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    Phương Anh |

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