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World gold price increased sharply

Yesterday gold price on the market witnessed a sharp increase to $2,006.63 per ounce; while the domestic gold price remained unchanged before the trading session closed.

World gold price early yesterday morning continued its upward momentum by climbing up 10.4 USD to 2,014 USD/ounce. Future gold last traded at $2,028.6 per ounce, roset $9.7 compared to the price at dawn the day before.

The world gold price on the night of April 12 was about 10.8% higher (197 USD/ounce) compared to the beginning of 2023. World gold converted to money based on dollar price was 58.2 million dong/tael, including taxes and fees, about 8.9 million dong/tael, lower than the domestic gold price by the end of the afternoon session on April 12.

The price of gold in the international market increased sharply while the US dollar dropped quite quickly after the US announced that the inflation rate dropped to 5% in March, a sharp drop compared to 6% in the previous month and the peak of 9.1% in June 2022.

Information that US inflation dropped rapidly made investors bet on the possibility of the US Federal Reserve (Fed) to quickly reverse monetary policy, from tightening to loosening to support the economy.

In the domestic market, before the opening time of the trading session on April 13 morning, Saigon Jewelry Company listed at 66.40 - 67.00 million VND/tael (buy in - sell out). The buying and selling prices have not changed in comparison with the previous session.

Doji Group listed the price of SJC gold at 66.40-67.00 million dong/tael, the price remained unchanged.

Phu Quý Jewelry Company listed the price of SJC gold from 66.45 to 67.05 million VND/tael (buy in - sell out). The gold of Vietinbank Gold buying in and selling out prices were 66.4 million VND/tael and 67.02 million VND/tael.

SJC gold price at Bảo Tín Minh Chau Co., Ltd. was 66.46 - 67.03 million VND/tael (buy in - sell out). The price of 24K Dragon Thăng Long gold of Bảo Tín Minh Chau is listed at a price of 55.51 - 56.46 million VND/tael.

Source: Tai Chính Doanh Nghiep

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