ANTD.VN - Gold prices skyrocketed, with world gold surpassing the challenging threshold of 3,000 USD/ounce for the first time, while the domestic market also set a new record of 96.5 million VND/tael.
In today's trading session, domestic gold prices fluctuated strongly. As of 3 p.m., SJC gold had increased by 1.4 million VND per tael in both directions, bringing the buying and selling prices to a historical record of 94.30 - 95.80 million VND per tael.
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Gold prices continue to break new records |
Gold rings also recorded an increase of around 1.5 million VND per tael. Accordingly, Bao Tin Minh Chau gold rings were listed at the same time at 94.95 - 96.50 million VND/tael; DOJI rings 94.90 - 96.30 million VND/tael; Phu Quy rings 94.80 - 96.30 million VND/tael; SJC 999.9 rings 94.20 - 95.70 million VND/tael...
Globally, gold prices have once again broken their old record as demand for safe havens continues to increase amid global trade tensions. In just the trading session on March 13 (last night Vietnam time), spot gold increased by 55 USD/ounce, closing at 2,988 USD/ounce. In the Asian session, it continued to maintain its high price and is currently trading at around 2,986 USD/ounce.
Meanwhile, gold futures have broken through the $3,000 an ounce barrier for the first time in history, a remarkable achievement that comes after a sharp rally from below $2,700 an ounce earlier this year.
The significant price movement in the precious metals market came after the US Bureau of Labor Statistics’ February Producer Price Index (PPI) report cooled from the previous month and also came in below consensus estimates.
The PPI report showed the economy is cooling, which has traders positioning for a rate cut sooner than previously expected. The next Federal Open Market Committee (FOMC) meeting is scheduled for March 18-19, but many predict the Fed is unlikely to adjust interest rates at that meeting.
In addition, the precious metal market still benefits from the risk-off sentiment of investors at very high levels this week amid concerns that deteriorating trade relations between the United States and major trading partners could cause a global economic recession.
Adding to the uncertainty is the risk of the first US government shutdown since December 2018 as US Democratic Senators said they would not support a Republican temporary funding bill.
Source: https://www.anninhthudo.vn/lien-tuc-xo-do-ky-luc-gia-vang-chieu-nay-cham-moc-965-trieu-dongluong-post606101.antd
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