Gold price soared, investors bought heavily



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Intellectual people

This morning on January 10, the SJC gold price rose to 55.7 million dong / tael as the world gold price approached $ 1,900 / ounce. The price of gold is expected to rise and major organizations advise investors to increase their gold holdings.

Opening the national gold market this morning on October 1, the SJC gold price in Hanoi through the listing of some large gold companies was quoted at VND 55.2 million / tael (bought) – VND 55.6 million / volume (sold) for retail and wholesale transactions.

These prices increased the buy direction of 100,000 dong / tael, but remained the sell direction compared to yesterday’s closing session.

At 9 am, the price of gold here rose in the afternoon by 50,000 VND / tael, to 55.25 million VND / tael – 55.65 million VND / tael.

In Ho Chi Minh City, the price of SJC gold listed by various companies is 55.2 million VND / tael – 55.7 million VND / tael, an increase of 100,000 VND / tael compared to yesterday.

Gold price skyrocketed, investors bought heavily - 1

This morning on 10/1, the SJC gold price rose to 55.7 million / tael as the world gold price approached almost $ 1,900 / ounce.

Closing yesterday, the companies quoted SJC gold prices in Hanoi and Ho Chi Minh City at 55.1 million VND / tael – 55.6 million VND / tael.

Around the world, at 8:45 a.m. This morning (Vietnam time), the spot price of gold listed by Kitco.com is increasing by $ 5.5 / ounce, trading at $ 1,890.7 / ounce.

Gold prices rebounded in the context of investors increasing their gold holdings when the Covid-19 epidemic had many concerns and the race to enter the White House was unprecedented.

Furthermore, the increase in gold prices is also due to the second quarter GDP data released by the US Department of Commerce, which shows that the negative impact of the Covid-19 pandemic is very large. The rate of decline in GDP in the United States reached 31.4% during the same period.

Global stock markets, including the US, showed signs of reversal and also affected the uptrend in gold prices.

When forecasting the gold price trend, many organizations in the world are betting that gold will skyrocket to $ 2,000 / ounce and will advise investors to buy. Currently, the world’s largest gold goodwill, SPDR Gold Trust, has started increasing the amount of gold held.

The global gold market in September was a mix of up and down weeks because price fluctuations were influenced by a lot of information: USD, stocks, rescue package, Covid-19 epidemic.

The US elections are fraught with tension and uncertainty is believed to be the factor that will drive up the price of gold.

According to Nielsen statistics, an estimated 73.1 million people watched the first live debate between the two US presidential candidates broadcast on 16 US television channels. That’s less than the 84 million people who watched the first live debate between Donald Trump and Democratic presidential candidate Hillary Clinton in 2016.

However, the above figure is considered quite impressive because it is only behind the 2016 record and the 1980 record when the two candidates, Ronald Reagan and Jimmy Carter, argued.

An Ha

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