World gold increased sharply
At the end of last week (March 25-March 30), gold price SJC pieces are listed by large businesses at 78 3-80 8 million VND/tael (buy – sell). The distance between buying and selling is 25 million VND.
Last week, the highest level of gold bars recorded was 79 5-81 5 million VND/tael (buying – selling), but quickly decreased in price and lost the mark of 81 million VND on the selling side.
Gold rings were listed at 69 2-70 45 million VND/tael (buy – sell). Gold rings last week increased to 800,000 VND on the buying side and increased by 700,000 VND on the selling side before closing the week.
Bao Tin Manh Hai Last week, gold bars were listed at 78,9-81 million VND/tael. Gold rings here are listed at 69 05-70 75 million VND/tael (buy – sell).
In the world ending At the end of the last trading week of the first quarter of 2024, gold closed at 2,233 USD/ounce. The price of this precious metal increased by more than 2% in the week, about 9% in the month and 8% in the quarter before entering the Easter holiday. .
Domestic gold price is more expensive than the world 13 8-14 5 million VND/tael depending on the time with gold bars and gold rings 3 2-4 million VND more expensive.
Darin Newsom – senior market analyst Barchart.com – a commodity data provider – said that the recent price increase of the yellow metal is a signal that investors are worried about the Federal Reserve. The US state (Fed) will not be able to control inflation. This person also finds that gold is being well supported as a tool to prevent geopolitical risks.
According to him, geopolitical concerns Politics remains and will continue to increase as the US election approaches. “If the Fed starts cutting interest rates bond yields will decrease, making gold a more attractive safe haven,” he said. said.
Some other analysts believe that the fact that the USD is losing its influence on the gold market as US government debt continues to increase is also a beneficial factor for metals. quarter.
Adam Button – Director of currency strategy at Forexlive.com – a news site specializing in providing reports on the foreign exchange market – commented that this is the beginning of a recovery for precious metals. This. He noted that investors should wait for a pullback before jumping into the market because gold will likely return to the support level of 2,150 USD/ounce to attract new buyers.
Price Free USD decreased
USD Index – a measure of the strength of the greenback with a basket of major currencies – reached 104 49 points, down 0 06% compared to before but increased 3 03% compared to the beginning year.
The State Bank ended last week listing center exchange rate at 24,003 VND/USD unchanged from before . With the current 5% margin, USD prices at commercial banks are allowed to range from 22,814 VND to 25,202 VND.
Big banks list prices at 24,600-24,970 VND/USD (buy – sell). ) increased by 20 VND each way compared to before. At the joint stock bank, the price is 24,612-25,002 VND (buy – sell).
Foreign currency exchange agencies on the free market list the USD price at 25,390-25,470 VND/USD (buy – sale) reduced by 25 VND each way.
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