ANTD.VN - In the context of world gold prices being under pressure to adjust due to higher-than-expected US inflation data, domestic gold tends to fluctuate but still maintains a very high price level.
In yesterday's trading session, domestic gold prices fell slightly at the beginning of the session but recovered in the afternoon and closed the session with an increase of about 200,000 VND per tael.
Entering the weekend morning session, the precious metal market adjusted again and slightly decreased by 200 - 300 thousand VND per tael.
Specifically, at the opening of this morning's trading session, Saigon Jewelry Company (SJC) listed the buying and selling prices at 79.00 - 81.50 million VND/tael. Compared to yesterday's closing price, the national gold brand has reduced the price by 700,000 VND/tael for buying but only reduced the selling price by 200,000 VND/tael, thereby widening the buying and selling gap to 2.5 million VND/tael.
At DOJI Group, gold bars this morning decreased by 300 thousand VND per tael in both directions, down to 79.40 - 81.40 million VND/tael.
Bao Tin Minh Chau reduced the buying price by 500 thousand VND/tael and the selling price by 300 thousand VND/tael, listed at 79.55 - 81.35 million VND/tael; Phu Quy also had a similar reduction, down to 79.50 - 81.40 million VND/tael...
Similarly, PNJ this morning also decreased by 200 thousand VND per tael in both directions, listed at 79.50 - 81.40 million VND/tael.
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Domestic gold price level is still very high |
For gold rings, the decrease in the weekend morning session fluctuated around 100 - 100 thousand VND per tael.
Accordingly, SJC's 9999 gold ring is listed at 67.65 - 68.85 million VND/tael; Bao Tin Minh Chau smooth round ring is 68.18 - 69.48 million VND/tael; DOJI Hung Thinh Vuong 9999 ring is 68.10 - 69.40 million VND/tael...
In the world, precious metals witnessed the third consecutive decline with a decrease of nearly 5.5 USD/ounce at the end of the week, closing the week at 2,156 USD/ounce.
Last week, gold prices were under pressure as two important inflation data, the US consumer price index (CPI) and producer price index (PPI), both rose higher than experts expected.
Gold typically benefits in an inflationary environment, as it is considered a hedge against inflation. However, the opposite is true in the current environment, as high inflation means high interest rates and the US dollar – which is inversely correlated to gold – has remained high for a long time.
Investors are now expecting inflation to actually fall to the Fed's desired 2% target, which would officially kick off the world's largest economy 's monetary easing cycle. And with last week's data, the possibility of the Fed cutting interest rates this summer is almost gone.
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