The domestic gold price today, October 20, 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 (maintained for buying) and 41.77 million VND/tael (maintained for selling) compared to yesterday morning's session.
Doji Hanoi Jewelry was listed at 41.52 million VND/tael (up 20,000 VND for buying) and 41.72 million VND/tael (up 20,000 VND for selling) compared to the previous morning session.
Ho Chi Minh City SJC listed at 41.47 million VND/tael for buying and 41.75 million VND/tael for selling, unchanged from the morning session on October 19.
The world gold price today, October 20, immediately stood at 1,490.64 USD/oz (buy) and 1,491.02 USD/oz (maintain the same selling price).
Domestic gold had a volatile trading week due to the stability of world gold in the week. World gold last week also fluctuated in the price range of 1,490 USD/ounce, with a maximum range of 5 USD/session.
Investors have expressed concern about China's economic situation.
China's economy recorded 6% growth in the third quarter of 2019. This is the lowest growth rate since March 1992.
Record low growth shows that the prolonged recession and the US-China trade war have seriously affected the production and export of the world's second largest economy.
The US trade war is in its 15th month. Official data shows that the war continues to impact the world's two leading economies, although both have expressed expectations for a limited deal.
Beijing has controlled risky credit and tightened banking channels in an effort to wean off debt in an economy with high financial leverage.
This causes businesses, especially small-scale businesses, to struggle to access financial resources for investment and expansion.
Consumers also have to tighten spending, causing the revenue of expensive items such as cars to decrease sharply.
A weakening in USD prices and gold prices will become a safe haven before the Brexit deal will help reduce the risk of recession in the EU.
