The domestic gold price today, October 17, is being traded at the following level:
Opening this morning's trading session, the gold price at 9:00 a.m. was listed by SJC Hanoi at 41.47 million VND/tael (up 20,000 VND/tael for buying) and 41.76 million VND/tael (down 20,000 VND/tael for selling) compared to yesterday morning's session.
Doji Hanoi Jewelry was listed at 41.48 million VND/tael (up 80,000 VND for buying) and 41.68 million VND/tael (up 30,000 VND for selling) compared to the session yesterday morning.
Ho Chi Minh City SJC listed at 41.47 million VND/tael (up 20,000 VND/tael for buying) and 41.74 million VND/tael (up 20,000 VND/tael for selling) compared to the morning session on October 16.
The world gold price today, October 17, immediately stood at 1.488.530 USD/oz (up 5.93 USD/oz for buying) and 1.488.910 USD/oz (up 5.93 USD/oz for selling).
Experts say that gold prices in the coming time will be closely related to trade negotiations between the US and China.
Trade tensions continue to make investors uncertain despite a temporary agreement between the US and China.
The US dollar is no longer weighing on gold as the US released a disappointing economic report. The sharp decline in the USD contributed to the recovery of precious metal prices.
USD prices fell after US retail sales data fell 0.3%. This is the first decrease in seven months. This increases the likelihood that the Federal Reserve (Fed) will cut interest rates later this month.
Reduced retail sales mean consumers are cutting spending. Production is weaker and is spreading to other sectors of the economy.
According to Investing.com's Fed Rate Monitoring tool, the chance of the Fed cutting interest rates in October has increased to 88.2%.
Meanwhile, the International Monetary Fund (IMF) warned that the US-China trade war will cause global growth to decline in 2019 to the slowest pace since the financial crisis. The IMF said it needed more details about Trump's first phase of the trade deal.
