Gold price fell sharply | VTV.VN
The selling price of gold is currently around the threshold of 68 million VND/tael. (Illustration image – Photo: Investment Newspaper)
At 9:25 a.m., DOJI Jewelry Group listed gold price SJC in Hanoi market was at 67.6 – 68.45 million dong/tael (buy in – sell out), down 200,000 dong/tael in buying afternoon and 305,000 dong/tael in selling afternoon compared to yesterday’s close. (March 22).
At Bao Tin Minh Chau Co., Ltd., the listed price of SJC gold bars traded at 67.76 – 68.5 million VND/tael (buying in – selling out), down 60,000 VND/tael and respectively. 250,000 VND/tael compared to yesterday’s closing session.
Meanwhile, at Saigon Jewelry Company, the business kept the purchase price of SJC gold at 67.85 million VND/tael and adjusted it down 200,000 VND/tael to 68.57 million VND/tael. quantity.
World gold prices fall
The precious metal market in the early morning of March 23 (Vietnam time) was pressured by the recovery of stock indexes and strong increase in US Treasury bond yields.
Strong increase in bond yields put great pressure on precious metals market. (Artwork – Photo: Bloomberg)
Accordingly, gold futures in April decreased by 10.8 USD to 1,918.5 USD/ounce. Spot gold last traded at $1,921.5 per ounce, down $14.5 per ounce from the previous day.
The gold market is witnessing strong pressure as the market reacts to comments by US Federal Reserve Chairman Jerome Powell, leaving the door open for a 50-point interest rate hike in May to keep inflation in check. .
At the annual economic policy conference of the National Association of Business Economists taking place from March 20 to 22 in Washington, D.C., Mr. Jerome Powell emphasized that US inflation is too high, threatening threaten the strong recovery of the economy.
Mr. Jerome Powell said the rate hike would continue until inflation is under control and even monetary policy can be tightened if necessary to stabilize prices.
Powell’s hawkish remarks pushed 10-year yields to nearly 2.4%, their highest levels in nearly three years, putting pressure on precious metals markets.
However, rising geopolitical tensions in Ukraine and the new variant BA.2, which now accounts for half of all new COVID-19 cases across most of the US, have supported gold prices.
According to market analysts, the price of gold could be above the level of 1,900 USD / ounce, if gold breaks this level, it could fall quickly.
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at Blogtuan.info – Source: vtv.vn – Read the original article here
