Worry eased, gold immediately increased in price

Domestic gold price

Open the market on May 28, SJC’s gold price of 9999 today in Hanoi decreased by 50 thousand dong in both buying and selling direction compared to the end of yesterday’s session. Specifically, at 9:25 am on May 27, 9999 gold was traded by Doji Jewelry Group and SJC as follows:

SJC and DOJI gold price list updated at 9:25 am on May 28

End of trading session yesterday, gold price Pieces of 9999 at SJC and Doji listed as follows:

SJC HCMC: 68.55 million VND/tael (buy in) – 69.55 million VND/tael (sold out)

SJC Hanoi: 68.55 million VND/tael (buy in) – 69.57 million VND/tael (sold out)

Hanoi Doji: 68.5 million VND/tael (buy in) -69.45 million VND/tael (sold out)

Doji Ho Chi Minh City: 68.5 million VND/tael (buy in) – 69.45 million VND/tael (sold out)

International gold price

Until 9:35 am today (May 28, Vietnam time), the world spot gold price stood around $1,854.1 per ounce, up $3.6 per ounce compared to last night. The price of gold for June delivery on the Comex New York floor was at $1,857.3 per ounce, up $6.7 per ounce compared to last night.

On the world gold market, spot gold price in the US closed down 3 USD/ounce to 1,850.6 USD/ounce. Gold futures for delivery in June 2022 on the Comex New York exchange increased 1.4 USD to 1,850.6 USD/ounce.

Gold capped losses, as the dollar hovered near a one-month low and 10-year US Treasury yields also fell to their lowest levels since April.

The dollar index hit a nearly two-decade high in mid-May 2022, above 105, but signs suggest the Fed’s aggressive move to raise interest rates may have slowed economic growth. The economy led traders to scale back their bets on the pace of Fed tightening, sending US government bond yields also falling from multi-year highs.

Minutes from the most recent monetary policy meeting of the Federal Open Market Committee (FOMC) also allayed concerns that the Fed could become more hawkish in raising interest rates, a concern that has led market volatility in recent weeks.

The number of Americans filing new jobless claims fell last week, signaling a continued tightening of the labor market.

In a separate report also on Thursday, the US Commerce Department confirmed the economy contracted in the first quarter due to a record-high trade deficit and a slightly slower pace of inventory accumulation compared to the fourth quarter. 2021.

Gold price forecast

Experts say that the minutes have not had much impact on investors and the market is starting to realize that the Fed will continue to take aggressive measures to control inflation.

Expert Spivak added that gold price currently has a support level around $1,830 per ounce in a bearish direction. On the upside, the next important level for the precious metal price is around $1,885 an ounce.

Told him