The domestic gold price today, October 2, 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 41.15 million VND/tael (down 100,000 VND/tael for buying) and 41.52 million VND/tael (down 50,000 VND/tael for selling) compared to yesterday morning's session.
Doji Hanoi Jewelry was listed at 41.15 million VND/tael (down 100,000 VND for buying) and 41.50 million VND/tael (down 300,000 VND for selling) compared to the previous morning session.
Ho Chi Minh City SJC listed at 41.15 million VND/tael (down 100,000 VND/tael for buying) and 41.50 million VND/tael (down 50,000 VND for selling) compared to the morning session on October 1.
The world gold price today, October 2, immediately traded at 1,478.85 USD/ khoz, up 8.53 USD/ khoz for buying and 1,479.08 USD/ khoz, up 8.38 USD/ khoz for selling compared to the morning session of October 1.
Gold prices today are about 211 USD/ounce higher than in early 2019. Based on bank USD, world gold is currently priced at 41.16 million VND/tael. Excluding taxes and fees, the world gold price is currently 90 thousand VND/tael lower than the domestic gold price.
World gold prices turned to increase mainly due to the strong depreciation of the USD.
The greenback depreciated after analysts at S&P Global Ratings admitted that US economic growth is being affected by the trade war with China. According to S&P Global Ratings' forecast, the US economic growth rate in 2020 will decrease to 1.7%.
Recorded at the same time, by Vietnam time, the US dollar index, the index measuring the strength of the greenback against a basket of 6 major currencies, stood at 98.80 points, down 0.22%.
In addition, experts said that the precious metal increased again due to the US announcement of the US Institute of Manufacturing Industry (ISM) falling to its lowest level since June 2009, from 49.1% to 47.8%.
Investors' risk-off sentiment increased, causing demand for gold to increase and the stock market to decline sharply, the Dow Jones index decreased by 1.28%, down to 28,573.04 points; the S&P 500 decreased by 1.23%, down to 2,940.25 points; Nasdaq decreased by 1.13%, down to 7,908.68 points...
The above economic information caused the USD price to decrease sharply compared to other foreign currencies, the USD-Index decreased by 0.4 points, to 99.1 points. Since the beginning of the year, the USD index has increased by about 3.2%.
