With the increasing dynamism maintained, the world gold price this morning (June 21) surpassed the mark of $ 1,400 / oz, pushing the price of domestic gold to the peak of 6 years. USD free and bank prices fall.
At around 10 o'clock, the DOJI Group listed the SJC gold price for the Hanoi market at VND 38.82 million / tael (bought in) and VND 39.02 million / tael (sold out). In the Ho Chi Minh City market, SJC Company cited the same gold mark at VND 38.75 million / tael and VND 39.05 million / tael.
Compared with the same time yesterday, the price of gold increased by about VND 400,000 / tael. Thus, within two days, the price of gold bars increased by about 1.5 million barrels / ton.
The DOJI gold price chart shows that this is the highest price of gold bars since June 2013.
Cautious with the strong volatility of the gold price, the jewelers widened the gap between buying and selling prices. The difference between the buying and selling price of SJC gold in Hanoi this morning ranged from 200,000-300,000 VND / tael.
The price of 999.9 gold products was also boosted quickly, many places exceeded the limit of VND 39 million / tael.
The soft ring of the Dragon Ring Thang Long of the Bao Tin Minh Chau Company at 10:00 a.m. has a purchase price of VND 38.79 million / tael and the sale price at VND 39.24 million / tael. The Phu Quy Group cites Phu Quy's smooth circular ring at the level of 38.65 million dong / tael and 39.05 million dong / tael.
Compared to the converted world gold price, SJC's retail gold price is lower than the VND 500,000-600,000 / tael.
According to gold traders, this increase in the price of gold in the domestic market is mainly due to the impact of the world gold price.
During the first 5 months of 2019, the price of the gold bar floated above VND 36 million / tael. The flight began in early June, when world gold prices accelerated due to the Federal Reserve's ability to cut interest rates for the first time after 11 years.
Only after 3 weeks, the price of the gold pieces added more than VND 2.5 million / tael. However, gold bar prices are still growing more slowly than international gold prices, as reflected by the selling price of SJC gold from more expensive to cheaper international gold prices.
Yesterday, many people brought gold to sell to take advantage of the high prices. If they buy pieces of SJC gold at a price of 36.6 million VND / tael at the beginning of the year, investors now have about VND 2.2 million per gold tael.
However, some gold stores in the street Tran Nhan Tong in Hanoi, said the market is still in the operating climate, because international gold prices are expected to increase further.
The price of spot gold on the Asian market at nearly 10 o'clock in the morning in Vietnam was $ 1,406.7 / ounce, up $ 17.8 / oz from close on Thursday in New York, equivalent to almost $ 1 . 3%
At the US session last night, the gold price of $ 28 / oz, equivalent to 2.1%, closed at $ 1,388.9 / oz.
The current world gold price equals about 39.5 million dong / tael, converted into free and unrelated dollar price.
International gold prices have been in the highest area for more than 5 years, thanks to the key "catalyst" is the stance of the EDF monetary policy change. Analysts predict that the Fed will have the first interest rate in July.
If the gold price remains at $ 1,400 / oz until the closing of the trading session tonight in the US, the possibility of price will go further. Some analysts have considered the possibility of gold prices up to 1,500-1,600 USD / oz.
The possibility that the Fed will reduce the interest rate will continue to push the dollar, causing the dollar index to measure the strength of the dollar to 96.6 points in today's Asian session. Yesterday morning, this index fluctuated around 96.9 points.
In the country, the USD / VND exchange rate also fell both in the free market and in the bank.
The free dollar price in Hanoi was popular at VND 23,280 (purchased) and VND 23,310 (exhausted), below VND 10 compared to the morning. Vietcombank reduced the price in USD quoted at 25 dong, equivalent to 23,230 dong and 23,350 dong, respectively.