World gold price falls again after touching 2,600 USD/ounce - Screenshot
Gold prices rise and fall due to profit taking
This afternoon, the world gold price has decreased by about 50 USD/ounce compared to the peak, to 2,564.8 USD/ounce.
Converted according to the exchange rate listed at the bank, the world gold price is equivalent to 76.78 million VND/tael.
At the end of a two-day policy meeting, the US Federal Reserve (Fed) decided to lower interest rates for the first time in four years, with a rather drastic reduction of 0.5%, which is considered a signal of a monetary easing roadmap.
In addition to the cut decision, the Federal Open Market Committee (FOMC) also signaled that it would cut interest rates by another 0.5% later this year.
In addition, the Fed is likely to cut interest rates by another 1% in easing rounds in late 2025 and 0.5% in 2026.
At this rate, by the end of 2025, interest rates will be around 3.25% - 3.5%. By the end of 2026, interest rates may be lower than 3%.
After this positive news, gold prices reached $2,600/ounce for the first time in history, but then fell sharply due to profit-taking pressure.
This is also the scenario that investors have predicted in advance, so the development of gold prices is not surprising. It is predicted that the world gold price will decrease to 2,480 USD/ounce before increasing again.
Domestic gold prices fell after the Fed cut interest rates - Photo: PHUONG QUYEN
SJC gold bar price decreased by 200,000 VND/tael
Today, SJC Company and banks in the big4 group reduced the selling price of SJC gold bars by 200,000 VND/tael, down to 81.8 million VND/tael (selling).
The purchase price of gold bars at SJC Company decreased to 79.8 million VND/tael.
The selling price of gold rings also decreased by 100,000 VND/tael, to 79.1 million VND/tael, and the buying price was 77.8 million VND/tael.
Bao Tin Minh Chau Company listed the selling price of 9999 gold rings at 79.18 million VND/tael, and the buying price at 77.98 million VND/tael.
Meanwhile, DOJI Company listed the selling price of gold rings at 79.2 million VND/tael, buying at 78 million VND/tael.
Compared to the converted world gold price, the price of SJC gold bars is 5.02 million VND/tael higher, while the price of 9999 gold rings is 2.32 million VND/tael higher.
The difference between the price of SJC gold bars and the price of 9999 gold rings is currently at 2.6 million VND/tael.
Source: https://tuoitre.vn/gia-vang-bat-len-2-600-usd-ounce-roi-giam-sau-khi-fed-ha-lai-suat-2024091912424397.htm
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