Domestic gold price
On the afternoon of February 16, gold prices were unexpectedly adjusted down by businesses despite being close to the God of Wealth's day (January 10).
As of 6 p.m. on February 16, the domestic gold price listed by Bao Tin Minh Chau was VND76.35 million/tael for buying gold; VND78.25 million/tael for selling gold. The difference between the buying and selling price of SJC gold was VND1.9 million/tael.
Compared to the opening session of the same day, gold price at Bao Tin Minh Chau decreased by 600,000 VND/tael for buying and decreased by 700,000 VND/tael for selling.
Meanwhile, DOJI Group listed the buying price at 76.15 million VND/tael; the selling price at 78.35 million VND/tael. The difference between the buying and selling price of SJC gold at DOJI is 2.2 million VND/tael.
Compared to the opening session of the same day, the gold price at DOJI Group decreased by 600,000 VND/tael for buying and decreased by 550,000 VND/tael for selling.
In Hanoi, some stores of Bao Tin Minh Chau, DOJI, Bao Tin Manh Hai... have a lot of customers coming to make transactions.
According to Lao Dong reporters on the afternoon of February 16, many gold shops were packed with people coming to make transactions. Some units prepared snacks, water and souvenirs to serve customers who came to shop.
World gold price
Gold Price Forecast
James Stanley, senior strategist at FOREX.com, said the price range of $1,975 to $1,978 per ounce will continue in the near future.
Meanwhile, expert Chantelle Schieven of Capitalight Research commented that if the US Federal Reserve (FED) loosens monetary policy soon, it will boost new investment demand for gold, pushing the price to $2,400/ounce.
The CME Fedwatch tool shows traders are reducing bets on rate cuts in May and June, although traders are still pricing in a 51% chance of a 25 basis point cut in June.
Source
Comment (0)