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The global price of gold stabilized, causing the domestic gold price this morning (December 9) to “gasp” after yesterday’s sharp rise. The free USD price also decreased slightly, while the bank’s USD price remained stable.
At around 10 noon, DOJI Group quoted the SJC gold price for the Hanoi market at 54.8 million dong / tael (bought) and 55.45 million dong / tael (sold). On the HCMC market, SJC Company traded gold bar of the same brand at 54.9 million VND / tael and 55.45 million VND / tael, respectively the buy and sell prices.
Compared to the same time yesterday, gold bar prices are currently down 150,000 VND / tael in both DOJI and SJC. Yesterday, there was a time when the price of gold bars sold in DOJI rose to 55.65 million dong / tael, the highest in half a month.
After falling below the 54 million dong / tael threshold at the end of November, the price of gold has so far recovered to around 1.8 million dong / tael. The international price of gold continues to be the main factor dominating the movement of the domestic gold price, although the price of gold bars keeps the upward and downward trend slower than the international price.
This morning, the retail price of gold was almost 3.3 million dong / tael higher than the world price of gold.
The price of other gold products of 999.9 fell or fell this morning, depending on the price of each business.
Phu Quy Group’s round Phu Quy ring has a purchase price of 53.4 million dong / tael and a sale price of 54.2 million dong / tael. Bao Tin Minh Chau Company’s Thang Long Dragon Ring is priced at 55.31 million VND / tael and 54.26 million VND / tael, respectively.
Compared to the previous morning, the price of the Phu Quy ring did not change, but the price of Bao Tin Minh Chau’s products decreased by 350,000 VND / tael in the buy direction and 200,000 VND / tael in the sell side.
Changes in world gold prices from the beginning of the year until now. Unit: USD / oz – Source: TradingView.
The spot price for gold on the Asian market at 10 noon Vietnam time stood at $ 1,865.8 / oz, $ 5.5 / oz lower than last night’s closing session in New York. This price is equivalent to about 52.2 million VND / tael.
In the US session on Tuesday, the price of gold rose by $ 8.3 / oz, equivalent to a 0.45% increase, closing at $ 1,871.3 / oz, the highest in the middle of the month.
The price of gold is being supported by the possibility that the United States Congress is about to pass the economic stimulus package worth 908 billion dollars. Negotiations are still ongoing and have no final results. The growing Covid-19 epidemic in the US also helped promote gold as a safe investment channel.
However, gold prices are also under pressure to go down due to the positive information about the Covid-19 vaccine. This information led the US stock market to set a new record in Tuesday’s session, weakening the attraction of “storm-avoidance bays” such as gold.
Pharmaceutical company Johnson & Johnson said it is about to get the results of an end-stage clinical trial of the Covid-19 vaccine that only requires one injection. This information was provided by the company ahead of market expectations.
US authorities released documents showing no problems with the efficacy and safety of the vaccine produced by the US pharmaceutical company Pfizer and its German partner BioNTech. On the same day, the Pfizer vaccine came into use in the UK, when the country launched a campaign to vaccinate the entire population against Covid-19.
Under the fluctuating impact of two factors, the price of gold has stabilized and is awaiting more robust information to determine the direction.
The dollar in international markets was less volatile last night and this morning, and the dollar index continued to fluctuate around the 90.9 point threshold.
The free price in USD in Hanoi this morning decreased by 5 dong compared to last morning, to 23,200 dong (bought) and 23,230 dong (sold out). The USD listed price on Vietcombank remained stable at 23,040 dong and 23,220 dong.
