Domestic gold prices this morning 3.1 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 42.53 million VND/tael (up 230,000 VND/tael for buying) and 42.90 million VND/tael (up 130,000 VND/tael for selling) compared to yesterday morning's session.
Doji Hanoi Jewelry was listed at 42.65 million VND/tael (up 20,000 VND/tael for buying) and 42.80 million VND/tael (up 100,000 VND/tael for selling) compared to the previous morning session.
Ho Chi Minh City SJC listed at 42.53 million VND/tael (up 230,000 VND/tael for buying) and 42.88 million VND/tael (up 130,000 VND for selling) compared to the morning session on January 2.
The world gold price today 3.1 was listed at 1,530.7 USD/oz, up 5 USD/oz compared to yesterday.
Converting to foreign currency exchange rate (Vietcombank: 1 USD = 23,110 VND), world gold price is equivalent to about 42.61 million VND/tael, 220,000 VND/tael lower than the selling price of SJC gold.
The world gold price opened in 2020 and has skyrocketed to a new 3-month high despite a strong increase last year.
Gold prices increased mainly because the USD was still quite low, not far from the 6-month low that the greenback recorded in the last days of 2019.
Meanwhile, the Chinese central bank has once again eased its monetary policy by further cutting the reserve requirement ratio.
The move has released more than $110 billion in liquidity to the domestic banking system, which has struggled increasingly in recent months with a huge debt.
The move, which comes from the back of news about a trade deal with the US, also pushed the Chinese stock index to its highest level in nearly two years.
China's PMI index has fallen to a three-month low. At the same time, attention is on the minutes of the December meeting of the Federal Reserve to be released this week.
In addition, concerns about US-China relations remain despite US President Donald Trump announcing that the two sides will sign an agreement on January 15 in Washington.
In addition, escalating global geopolitical tensions are helping gold break price records in 2020.