The world gold price fell after the decision of the Fed to raise interest rates

Specifically, gold price June 2022 delivery fell 1.8 USD (0.1%) to close at 1,868.8 USD/ounce.

On May 4, 2022, the US Federal Reserve (Fed) increased the base interest rate range to twice the size of a normal rate hike, in the context of the agency’s “sprint” to overcome the problem of rising inflation in the US. Specifically, the Federal Open Market Committee (FOMC) – the panel of Fed officials in charge of monetary policy – raised interest rates by 0.5% to a target range of 0.75% to 1%. The US Central Bank has not raised interest rates by more than 0.25% since May 2000.

Investors are expecting more rate hikes in the future as the Fed tries to contain inflation that is at its hottest since the early 1980s. ADVERTISING XTradable gold price forecasters around $1,900/ounce in the short term.

In Vietnam, in the early morning of May 5, the price of SJC gold was listed by Saigon Jewelry Company Limited at 69.40 – 70.12 million VND/tael (buy in – sell out).