Increased tensions on the Korean peninsula brought world gold prices to recover in this morning session after falling sharply last night, but still could not re-establish the $ 1,300 / oz mark. In the country, the gold price has increased slightly and the international price is more than 1 million dong per tael.
At nearly 11 o'clock this afternoon, DOJI Group listed SJC gold price for Hanoi market at 36.58 million dong / tael (bought in) and 36.65 million dong / tael (sold out). Compared to the end of the afternoon, the price of SJC gold at this enterprise has increased by 20,000 VND / tael.
In Ho Chi Minh City market at the same time above, SJC Company quoted the same brand gold bar at 36.5 million VND / tael and 36.7 million VND / tael, respectively, buying and selling prices.
After falling below 36.6 million VND / tael, the lowest in 3 weeks, last afternoon, gold price fluctuated around this threshold until this morning.
In the context of a bleak domestic demand for gold and a stable USD / VND exchange rate, the domestic gold price is under pressure from the world gold market. From the price peak of 5 months established exactly 2 weeks ago, the price of gold bar has decreased by about 700,000 VND / tael.
However, the domestic gold price is falling more slowly than the world price, reflected in the widening domestic-international gold price gap. At the beginning of the month, there were times when the domestic gold price was almost on par with the world price. But this morning, the difference between the domestic and world gold price is nearly 1.2 million dong / tael.
Ending the session on Thursday in New York, spot gold prices decreased by 9.9 USD / oz, equivalent to a decrease of nearly 0.8%, to 1,291.6 USD / oz.
At 11 noon this time according to Vietnam time, gold prices in the Asian market increased 6 USD / oz compared to the US session, reaching 1,297.6 USD / oz. This price is equivalent to about 35.5 million VND / tael if it is converted at a free USD price and related costs are not included.
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The world gold price is being affected by conflicting factors. After 2 weeks, gold prices have fallen by more than 60 USD / oz from the peak of 1 year.
Rising tensions on the Korean peninsula are a reason for many investors to buy gold hedging. According to South Korean news agency Yonhap, North Korean Foreign Minister Ri Yong Ho announced on September 22 that the country might carry out a thermonuclear bomb test in the Pacific to respond to the President's warnings. US Donald Trump.
This information caused Asian stocks to decline this morning, while safe assets such as gold, Japanese Yen and Swiss Franc increased.
However, the USD's appreciation in recent days and the possibility that the US Federal Reserve (FED) will raise interest rates in the meeting in December are the source of pressure to devalue for gold. Before falling 0.2% in this morning session to 92,052 points, the Dollar Index measuring the strength of the USD has had several consecutive gaining sessions.
In its policy meeting ending Wednesday this week, the Fed left open the possibility of a third rate hike in 2017 in December, and announced it would start selling more than 4 trillion bonds. USD since October. This is the amount of bonds that FED has bought to support economic growth after the 2008 financial crisis.
Analysts worry that with the loss of $ 1,300 / oz and facing the possibility of higher USD interest rates, gold prices may fall further. However, geopolitical tension is still an important supporting factor for this precious metal price.
The free USD price in Hanoi until this morning has not changed, "remained" at 22,720 VND (bought in) and 22,740 VND (sold out).
Meanwhile, the USD price listed at some commercial banks has had small movements after many days of lying still. Vietcombank this morning raised this foreign currency quote to VND 22,695 (bought in) and VND 22,765 (sold out), an increase of VND 5 compared to yesterday.
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Katadata.co.id - World crude oil prices move stably in trading Thursday (19/12) morning time Indonesia.
This is due to the decline in oil inventories of the United States (U.S.) does not match analyst expectations.
On the other hand, a trade agreement the US and China raises hopes of increased oil demand in the next year.
Reuters noted the price of Brent oil only rose by 7 cents to US$ 66,17 per barrel.
While the price of West Texas Intermediate crude oil (WTI) fell 1 cents to US$ 60,95 per barrel.
The Energy Information Administration (EIA) said U.S. crude inventories fell 1.1 million barrels in the week ended on December 13, 2019 to be 446,8 million barrels.
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