Gold price turns to increase vertically again

ANTD.VN - Although it has not yet regained what was lost in yesterday's session, the sharp increase in gold prices today is quite surprising for investors.

In yesterday's trading session, both domestic SJC gold and gold ring prices fluctuated strongly. SJC gold decreased by 6 million VND/tael for buying and 4.5 million VND/tael for selling, the buying-selling gap also widened to 4.5 million VND per tael.

Similarly, the price of gold rings also decreased by up to 4.5 million VND/tael during the session.

The sharp drop in gold prices has caused many people to panic and rush to sell their gold. Gold trading activities at some locations have been disrupted, and sales staff have had to delay purchases due to the rapid and large price fluctuations.

However, this morning, the gold price reversed and increased quite strongly, surprising many people.

Gold prices fluctuate strongly after the US presidential election

At 9:00 a.m., the listed price of SJC gold at 4 commercial banks (Agribank, BIDV, VietinBank, Vietcombank), SJC Company and other large gold enterprises was 86.5 million VND/tael for selling, an increase of 1 million VND/tael compared to yesterday's closing price. The buying price was 4.5 million VND/tael lower than the selling price, only at 82 million VND/tael.

For gold rings, businesses have different adjustments with increases ranging from 800,000 VND to 1.5 million VND per tael.

Accordingly, SJC 999.9 rings were listed early this morning at VND82.00 - 84.80 million/tael; DOJI Hung Thinh Vuong rings VND82.80 - 83.80 million/tael; Bao Tin Minh Chau plain round rings VND83.08 - 85.08 million/tael; Phu Quy round rings VND82.80 - 85.20 million/tael...

Domestic gold prices recovered following the strong increase in world gold prices after yesterday's sharp decline. This recovery brought international gold prices to around $2,700/ounce, up about $31.5 in last night's trading session Vietnam time.

The precious metals market turnaround could be a combination of factors, such as the US Federal Reserve’s long-awaited move to cut interest rates by 25 basis points. The Fed funds rate currently trades in a range of 4.50% to 4.75%.

The US central bank did not offer much guidance on the future path of monetary policy, noting only that the economy continued to grow at a solid pace.

Along with that, the number of unemployment claims in this country also increased higher than expected. And it is not excluded that the motivation from investors to buy at the bottom after this precious metal plummeted sharply in yesterday's session.

Source: https://www.anninhthudo.vn/gia-vang-lai-quay-dau-tang-dung-dung-post594890.antd