Gold price today 9/6: Gold price fell but still anchored around important milestone

Gold price today 9/6: Gold price fell but still anchored around the important milestone of USD 1,850/ounce

World gold price updated at 7am this morning (June 9) stood at 1,853.4-1,853.9 USD/ounce (buy in – sell out), down 4.6 USD compared to the same time price this morning. , stood at 1,858-1,858.5 USD/oucne (buy in – sell out). Compared to yesterday’s closing price, gold price fell because the USD was stronger and investors bought more gold.

Gold prices rose in volatile trade on Wednesday (June 8), as economic growth concerns boosted the precious metal’s appeal ahead of the release of US inflation data The event may suggest a path to raising interest rates by the US Federal Reserve (Fed).

According to the World Gold Council (WGC), central banks in many countries have boosted their gold purchases in recent times when prices are down and inflation is high.

Many recent forecasts show that the economies of many countries face the risk of recession. Uncertainty keeps gold as a safe bet.

Forecasting gold prices in 2022, analysts said, they expect the precious metal price to average for the whole year at about $1,830 an ounce.

Although the gold market faces some challenges in the second half of the year, according to analysts, the precious metal remains an important safe-haven asset for investors.

Despite the increasingly “hawkish” Fed, a stronger dollar and more asset sell-offs are weighing on gold, the precious metal’s price in June 2022 is still trading close to the levels recorded in at the beginning of the year, outperforming stocks and bonds.

Domestic gold price: At the end of the trading session on June 8, the domestic gold price of 9999 was listed by SJC and Doji Jewelry Group in the order of buying and selling as follows: SJC Hanoi: 68.70 million VND/tael – 69.62 million VND/tael. Doji Hanoi: 68.65 million VND/tael – 69.55 million VND/tael. SJC HCMC: 68.70 million VND/tael – 69.60 million VND/tael. Doji Ho Chi Minh City: 68.90 million VND/tael – 69.60 million VND/tael.

World gold converted to USD bank price excluding taxes and fees, was about 17.7 million dong/tael lower than the domestic gold price as of late afternoon session 8/6.