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Gold price closes to 70 million dong

Gold price rebounded strongly this morning. (Photo: VNA)

Recorded at 9:45 am, Saigon Jewelry Company listed SJC gold price in Hanoi market at 69.3 – 69.92 million VND/tael (buy in – sell out), an increase of 450,000 VND/tael. volume in the buying afternoon and 400,000 dong/tael in the selling afternoon compared to yesterday’s closing session (April 12).

At DOJI Jewelry Group Joint Stock Company, SJC gold price increased by 400,000 VND/tael in the buying afternoon and 300,000 VND/tael in the selling afternoon compared to yesterday’s close, trading at 69.2 – 69 ,8 million VND/tael (buy in – sell out).

At Bao Tin Minh Chau Co., Ltd., the company adjusted the price of SJC gold by 300,000 VND/tael in the buying direction and 390,000 VND/tael in the selling direction. Currently, the gold price is trading around 69.21 – 69.83 million VND/tael (buy in – sell out).

World gold price

Gold price is close to 70 million dong - Photo 1.

According to forecasts, the price of gold may surpass the threshold of $ 2,500 / ounce this year. (Artwork: Bloomberg)

On the international market, at 7:30 a.m. this morning, the spot gold price on Kitco traded at $1,965 per ounce (equivalent to 54.29 million VND per tael), an increase of $13 compared to yesterday (April 12). . Converted at the free USD exchange rate, excluding taxes and fees, the domestic gold price is 15.23 million dong/tael more expensive than the world’s.

Earlier, in the trading session of April 12, the price of gold futures delivered on the COMEX floor of the New York market increased while US inflation in March 2022 increased to the highest level in more than 40 years.

Specifically, the price of gold delivered in June 2022 increased by 1.43% to 1,976.1 USD/ounce. On April 12, the US Department of Labor said that the US consumer price index (CPI), a measure of inflation in March 2022, increased by 8.5% year-on-year on an unadjusted basis. adjusted, higher than the market estimate of 8.4% and the fastest increase since December 1981.

According to experts, the trend of gold prices will not change in the short term, with the US Federal Reserve (FED) still expected to raise interest rates by 50 basis points next month to curb inflation. broadcast. Gold continues to be supported as an asset hedge against new developments in Ukraine.

Edward Moya, an expert from Oanda, believes that the war in Ukraine is a factor accelerating inflation when global commodity prices are constantly fluctuating. Therefore, gold is still a safe haven channel chosen by investors in the current context.

“If gold can test the resistance at $1,970 an ounce in the near term, the path to $2,000 an ounce is not far away,” Edward Moya forecast.

The US bank Goldman Sachs recently forecast that the price of gold will surpass the threshold of $ 2,500 per ounce this year.

Gold price surged up Gold price surged up – In the morning of April 12, the domestic gold price was adjusted by businesses in both buying and selling afternoons.

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