Domestic gold prices this morning, December 26, are 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 41.83 million VND/tael (up 60,000 VND/tael for buying) and 42.12 million VND/tael (up 50,000 VND/tael for selling) compared to yesterday morning's session.
Doji Hanoi Jewelry Group listed at 41.88 million VND/tael (up 80,000 VND for buying) and 42.08 million VND/tael (up 80,000 VND for selling) compared to the previous morning session.
Ho Chi Minh City SJC listed at 41.83 million VND/tael (up 60,000 VND/tael for buying) and 42.10 million VND/tael for selling) compared to the morning session on December 25.
The world gold price today, December 26, is listed at 1,499.6 USD/ounce. The price of gold for delivery in February 2020 on the New York Comex was at 1,504.8 USD/ounce.
Converted at Vietcombank (1 USD = 23,110 VND), the world gold price is equivalent to 41.75 million VND/tael, 370,000 VND/tael lower than the SJC gold price sold.
Meanwhile, spot gold on Kitco was at 1,499 USD/ounce, up more than 10 USD compared to yesterday. Compared to last weekend, world gold has increased by approximately 20 USD/ounce, the strongest increase in nearly 2 months.
Gold's strong increase may be due to investors still being hesitant about the US economic outlook even though the stock market of this country continues to set new high records. Currently, investment activities of US businesses are still quite quiet.
The latest figures show that new orders for US manufacturing materials have barely increased in November 2019, while the number of goods exported has decreased.
This shows that business investment may still be a driver for US economic growth in the fourth quarter of 2019.
There is not much new information related to US-China trade relations except for signals that the two sides are taking steps to reach the signing of a phase 1 trade agreement.
Positive sentiment remains strong, with most currencies moving sideways after a strong week of price increases, except for the KWR continuing to increase by 1.44% compared to the previous week against the USD.
Although the price has increased to 17%, many experts still believe that gold will increase sharply in the coming time. The outlook for the global economy is still not really clear and quite uncertain, so safe-haven assets such as gold are something investors are interested in.
