Wednesday, 11/14/2018 09:00 (GMT + 7)
At 8:30 a.m., the world gold price hovered around $ 1,202 per ounce, down around $ 1 from the last afternoon session.
Yesterday, the price of gold was also around 1203 throughout the morning. However, during the day, the precious metal suddenly fell sharply and at one time was only $ 1,997. This morning, gold gradually recovered.
The price of gold has not risen because the US dollar remains at its highest level in 16 months. Demand for the dollar strengthened after the Fed said last week that interest rates are likely to increase in December and return to early 2019.
According to experts, gold can continue to be under pressure when next week, Federal Reserve Chair Jerome Powell will deliver a speech focused on domestic economic issues and which may include US inflation data.
Although gold is weakening, but looks a little longer, Thomas Smeenk, managing director of Broadway Gold Mining, said that precious metals are potential in today's unsustainable environment.
"Deficit spending at some point will lead to higher inflation and that will be reflected in commodity prices. The strength of the USD is not sustainable," he said.
World gold prices pushed closer to the $ 1,200 mark.
On the domestic market, earlier this morning, Saigon Jewelry Company recorded SJC gold prices for buy / sell were 36.34-36.48 million per volume, unchanged from the previous session.
Phu Quy Gold is still the same today and is registered in VND 36.35-36.44 million per tael.
This morning, the central bank announced the VND VND exchange rate of 22,725 / USD, down 2 USD / USD from the last session.
Vietcombank posted an exchange rate of 23,260 to 23,350 VND / USD, unchanged compared to yesterday.
Eximbank is currently trading on VND 23,270 -23,350 / USD, unchanged from the previous session.