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Domestic gold “swept” high compared to the world

At 8:50 am, SJC gold price In Hanoi market, Saigon Jewelry Company listed at 68.8 – 69.7 million VND/tael (buy in – sell out), down 50,000 VND/tael in both buying and selling direction. compared to yesterday’s session.

Meanwhile, DOJI Jewelry Group Joint Stock Company still lists the price of SJC gold in Hanoi market at VND 68.7 – 69.65 million/tael (buy in – sell out), maintaining the same level. prices in the afternoon of buying and selling compared to yesterday’s session.

On the world market, at 9:30 am today (Vietnam time), world gold price spot stood around the threshold of 1,851.7 USD/ounce, down 1.3 USD/ounce compared to last night. Gold futures delivery in July on the Comex New York floor was at $1,853.9 per ounce, down $0.1 per ounce compared to last night.

On the night of June 8 (Vietnam time), the world spot gold price stood around $1,853 per ounce. Gold for August delivery on the Comex New York exchange was at $1,854 per ounce.

The world gold price on the night of June 8 was about 2.2% lower (42 USD/ounce) than in early 2021. World gold converted to USD bank price was 51.9 million VND/tael, excluding tax. and fees, about 17.7 million VND/tael lower than the domestic gold price as of late afternoon session 8/6.

Gold in the country warped high compared to the world - Photo 1.

Domestic gold “wasting” compared to the world by nearly 18 million dong/tael. Illustration.

At the National Assembly’s question session on the afternoon of June 8 on the banking sector, State Bank Governor Nguyen Thi Hong said that in Vietnam, the gold price has the same trend as the world, but the adjustment speed increases. is faster, the speed of downward adjustment is slower.

Regarding the cause of this situation, the Governor of the State Bank analyzed, due to the decrease in the domestic gold bar supply, the fluctuations in the world gold price made domestic gold bullion businesses themselves afraid of risks, therefore. List price is quite high.

The Governor of the State Bank said that the State Bank will be ready to regulate if necessary. However, in recent times, people do not have the need to buy gold bars too much. Therefore, the bank has not intervened, but in case of necessity, it will import gold.

In the last 3 trading sessions, the world gold price could not surpass the threshold of 1,860 USD/ounce when the USD index and 10-year US Treasury bond yields remained high. Currently, the gold market is waiting for two important news, which is the monetary policy meeting of the European Central Bank (ECB) and the US consumer price index (CPI) report in May. CPI of the world’s No. 1 economy will increase by 8.2% over the same period last year, 0.1% lower than April.

Some experts predict that gold will hardly shine in the short term when central banks are strong in interest rates. Because inflation is the biggest threat to the economic recovery after the Covid-19 epidemic.

Gold price increased by 150,000 VND per tael Gold price increased by 150,000 VND per tael – The domestic gold price this morning (June 8) was simultaneously increased by businesses, trading above 69 million dong/tael in the afternoon of selling.

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