The domestic gold price today, October 6, is being traded at the following level:
At the end of the trading session of the week, the gold price at 9:00 a.m. was listed by SJC Hanoi at 41.75 million VND/tael (up 200,000 VND/tael for buying) and 42.07 million VND/tael (up 200,000 VND/tael for selling) compared to the morning session on October 4.
Doji Jewelry is listed at: 41.77 million VND/tael (buy) and 42.27 million VND/tael (sell), down 80,000 VND for buying.
Saigon Jewelry Company listed the price of SJC gold at 41.75 million VND/tael (buy) and 42.07 million VND/tael (sell) in Hanoi. SJC gold bar index in Ho Chi Minh City is listed at 42.05 million VND/tael (selling).
World gold price closed on Friday, December 2019 gold price decreased by 9 USD, equivalent to 0.6% to 1512.90 USD/oz. For the whole week, the price of gold futures increased by 0.4%, according to Fact Set's calculations.
Gold price developments this week are erratic, however, international gold and domestic gold both recorded great buying and selling opportunities.
Analysts believe that the downward trend in gold prices will only be short-lived as the trade war is showing signs of spreading. Not only with China, the US continues to have a new trade front with the EU, an area that has been considered a US ally for many years.
A series of bad data from the US economy in recent days is causing investors to worry about the growth prospects of the world's largest economy, thereby putting downward pressure on risky assets such as stocks and stimulating demand for safe-haven assets such as gold.
Investors are still closely monitoring developments surrounding US-China trade talks as the two sides are scheduled to meet next week.
Market sources speculate that the US Federal Reserve may cut interest rates for the third consecutive time at its policy meeting at the end of October 2019. Some Fed officials warned against careful consideration of the decision to cut interest rates.
