Gold price fluctuates

At 8:38 am, DOJI Jewelry Group Joint Stock Company listed SJC gold price at Hanoi market at 68-69 million dong/tael (buy in – sell out), an increase of 100 thousand dong/tael in the buying afternoon and 200,000 dong/tael in the selling afternoon compared to yesterday’s close.

Phu Quy Jewelry Company listed SJC gold price at 68 – 68.95 million dong/tael (buy in – sell out), unchanged compared to yesterday’s close.

SJC gold price in Hanoi market is listed by Saigon Jewelry Company at 68 – 69.02 million VND/tael (buy in – sell out), down by 100,000 VND/tael in both buying and selling direction. sold out compared to the end of yesterday session.

World gold price

On the world market, in the morning session of May 26, spot gold price increased by 0.01% to $1,853.7 per ounce at 6:47 am (Vietnam time), according to Kitco. Gold price for June delivery also increased 0.35% to 1,852.71 USD/ounce.

The world gold price fell in the session on May 25, after the minutes of the policy meeting of the US Federal Reserve (FED) suggested that the central bank will maintain the increase of interest rates by half a basis point in the future. June and July. At the beginning of the session, there was a time when the price decreased by 1.3% to 1,842.49 USD.

Gold is currently subject to many different factors and volatility does not have a clear trend. The Tightening monetary policy of the Fed pulled the USD up and pushed the gold price down. However, the USD is also under strong downward pressure when the Euro is forecasted to appreciate.

European Central Bank (ECB) President Christine Lagarde said interest rates in the euro area are likely to be at their highest by the end of the third quarter of 2022. This information will likely cause the greenback to be sold heavily and drop.

The rally in US stocks after a period of sell-off could also pull money out of gold.

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