DNVN - In the morning session of December 19, the price of SJC gold bars and gold rings in the country decreased sharply, affected by the 1% decrease in world gold prices, reaching the lowest level in nearly two weeks.
At 9:05 a.m., Saigon Jewelry Company (SJC) adjusted the price of SJC gold bars to VND81.9 million/tael for buying and VND83.9 million/tael for selling, down VND1.2 million/tael in both directions compared to the previous session.
DOJI Group also announced the price of SJC gold bars at 81.9 million VND/tael for buying and 83.9 million VND/tael for selling, with a decrease of 700 thousand VND/tael and 1.2 million VND/tael respectively compared to yesterday.
Along with gold bars, the price of gold rings was adjusted down by SJC Jewelry Company to 81.9 million VND/tael for buying and 83.6 million VND/tael for selling, 700 thousand VND/tael lower than the previous session.
DOJI listed the price of gold rings at 82.9 million VND/tael for buying and 83.9 million VND/tael for selling, down 800,000 VND/tael in both directions compared to the closing price of the previous session.
In the international market, gold prices on December 18 fell 1% to a two-week low after the US Federal Reserve (Fed) decided to lower interest rates.
However, the Fed also sent a message about slowing down the pace of interest rate cuts in the future, causing the USD and US government bond yields to increase.
At 19:26 GMT (2:26 a.m. December 19, Vietnam time), spot gold price on COMEX floor decreased by 0.9%, down to 2,622.71 USD/ounce, while gold futures price in the US decreased by 0.3%, closing at 2,653.30 USD/ounce.
Fed policymakers have forecast two quarter-point rate cuts next year, reflecting a cautious outlook for inflation and economic changes in the year Donald Trump takes office.
Independent trader Tai Wong said the market was struggling to adjust to the forecast of only two rate cuts next year. He said gold prices could still hold above $2,600 an ounce, despite the decline.
The market is expecting overnight interest rates to remain steady at the Fed's policy meeting in January. Higher interest rates will significantly dampen the appeal of gold, which does not yield.
Cao Thong (t/h)
Source: https://doanhnghiepvn.vn/kinh-te/gia-vang-trong-nuoc-ngay-19-12-2024-giam-sau-1-2-trieu-dong-moi-luong/20241219092740231
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