Domestic gold prices this morning, December 31, are being traded at the following level:
Saigon Jewelry Company listed the gold purchase price at 42.20 million VND/tael; the selling price was 42.60 million VND/tael, an increase of 70,000 VND/tael for both buying and selling compared to the end of the previous session. The difference in selling price is 400,000 VND/tael higher than the buying price.
At the same time, DOJI Group at this time listed the buying and selling gold price at 42.45 - 42.65 million VND/tael, an increase of 150,000 VND/tael for both buying and selling compared to the end of the session on December 30. The difference between buying and selling prices is at 200,000 VND/tael.
The world gold price today, December 31, was listed at 1,519.6 USD/oz, up 7.2 USD/oz compared to the previous trading session.
Converted at USD at Vietcombank (1 USD = 23,230 VND), the world gold price is equivalent to about 42.53 million VND/tael, 70,000 VND/tael lower than the SJC gold price sold at the present time.
Gold prices increase sharply in the context of the USD decreasing quite strongly compared to other major currencies
Meanwhile, the US-China trade deal is still vague, the world economy is unstable, causing investors to seek to buy gold.
Many experts have commented that the rapid recovery of the capital market at the present time is likely to enter a period of downward adjustment in early 2020. At that time, a large capital flow will flee from the stock market to gold assets.
Meanwhile, the US-North Korea talks are still a mystery. The Bank of Australia and New Zealand (ANZ) even predicted that in 2020, gold will penetrate a new peak, surpassing the threshold of 1,600 USD/oz.
Considering that US stocks have risen to an all-time high in the past few weeks, analysts believe that the recent increase in gold is due to a protective measure against stock decline early next year.
Marios Hadjikyriacos, an investment analyst at XM, said, some traders are preparing for 2020 trades and see this as a good time to buy gold to prevent their deposits after pouring huge sums into strong-growth stocks.
