Gold prices lie still waiting for important economic data

12/08/2023 11:30 Nhat Linh Print article

ANTD.VN - Domestic and world gold prices fluctuated little as the market is waiting for important US economic data, the employment report, to get more clues about the Fed's monetary policy.

In yesterday's trading session, domestic SJC gold price decreased by about 200 - 300 thousand per tael.

Precious metals are trading mixed in early trading this morning.

Saigon Jewelry Company (SJC) is listing the price of SJC gold brand at 73.10 - 74.12 million VND/tael, an increase of 200 thousand VND/tael in buying price, but keeping the selling price unchanged compared to the previous session's close.

Giá vàng biến động nhẹ trong bối cảnh dữ liệu việc làm Mỹ sắp công bố

Gold prices fluctuate slightly amid upcoming US employment data

Meanwhile, DOJI Group listed the price at 73.00 - 74.10 million VND/tael, keeping the buying price unchanged but decreasing the selling price by 200,000 VND/tael compared to yesterday's closing price.

At Phu Quy, SJC gold brand increased by 300 thousand VND/tael for buying, increased by 50 thousand VND/tael for selling, to 73.00 - 74.05 million VND/tael; Bao Tin Minh Chau listed at 73.05 - 74.00 million VND/tael, unchanged from the previous session...

Non-SJC gold this morning also had no significant fluctuations. PNJ kept the listed price the same as yesterday, at 61.00 - 62.10 million VND/tael; SJC 99.99 rings 61.00 - 62.05 million VND/tael; Bao Tin Minh Chau's Thang Long Dragon Gold 61.38 - 62.48 million VND/tael...

In the world market, gold prices are lying still waiting for employment data to be reported on Friday, tonight Vietnam time.

Spot gold prices in the US rose only slightly by $3 per ounce to $2,028 per ounce in the trading session on December 7. The market is seeing price consolidation after big moves earlier this week while awaiting a key US data point on Friday morning.

The upcoming US November jobs report will provide investors with further clues on the Fed's upcoming interest rate trajectory, as the agency has consistently said its policy will be data-driven.

Bullion has seen strong buying in recent times as investors increasingly believe that the tightening period by major central banks is over and speculate that rate cuts could come sooner than expected.

The Fed is expected to keep interest rates unchanged at its monetary policy meeting next week, and markets are pricing in a 50% chance of rate cuts starting in March next year.

Source link