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The SJC gold price on the morning of September 29 will rise in line with the rise in the world gold price (Photo: THY THO)
Before the above price was set, the international gold market movement lasted from 6 o’clock on September 28 to 2 o’clock on September 29 (Vietnam time) extremely dramatic. The price of gold of $ 1,860 / ounce slowly fell to $ 1,852 / ounce (at 17:00 on September 28). However, when the US market entered the transaction (around 7:00 p.m. on September 28), the market began to reverse and in just 30 minutes of trading, the price of gold increased by $ 20 / ounce, reaching 1,872. USD / ounce, then the price of gold fluctuates jagged. At the beginning of September 29, the price of gold continued to fall to $ 1,881 / ounce.
Gold prices rose dramatically as the United States prepared for a COVID-19 rescue package worth $ 2.2 billion. The dollar cooled compared to many other strong currencies. The US, European, and Japanese equity markets simultaneously “green” the floor. The Bank of England announced that it will not reduce interest rates below 0% (negative interest rate). China pledged to maintain a flexible monetary policy and at the same time provided credit for businesses.
In particular, international investors have moved to increase the amount of gold “stored”. Specifically, in the last 5 trading sessions of the previous week, although some gold giants sold 4 sessions and bought in 1 session, the amount of gold they hold increased by 17 tons; Only the largest gold investment fund in the world has 3 sell sessions, 1 buy session and the last session of last week there is no transaction, but the amount of gold in this fund increased by 19.8 tons.
Because between 8:00 and 17:00 on September 28, the world price of gold went down, so during this period, the price of gold in Vietnam went down. The SJC gold price rose from 55.55 million dong / tael to 55.3 million dong / tael, 2.6 million dong / tael higher than the world gold price.
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