World gold prices tend to decrease, domestic gold prices increase, experts predict the market will have many fluctuations.
Domestic gold price today January 17, 2024
By the morning of January 17, SJC’s 9999 gold price today increased again by 200 thousand VND/tael in both buying and selling compared to the beginning of the morning. In the early morning of January 17, SJC’s 9999 gold price today decreased by 500 thousand VND/tael in both buying and selling compared to yesterday’s session.
SJC gold price in Hanoi and Da Nang area is listed at 74 million VND/tael purchased and 76.52 million VND/tael sold. In Ho Chi Minh City, SJC gold is still buying at the same level as in Hanoi and Da Nang but selling is 20,000 VND lower. Thus, compared to yesterday morning, SJC gold price remained unchanged.
International gold price today January 17, 2024
At 8:54 a.m. today (January 17, Vietnam time), the world spot gold price stood around 2,029.8 USD/ounce, down 7.2 USD/ounce compared to last night. Gold futures price for February 2024 on the Comex New York floor is at 2,033.5 USD/ounce.
At 8:50 p.m. on January 16 (Vietnam time), today’s spot gold price on the world market stood around 2,037 USD/ounce. Gold delivered in February 2024 on the Comex New York floor is at 2,045 USD/ounce.
Gold prices fell more than 1% under pressure from the recovery of the USD and higher US Treasury yields after US Federal Reserve (Fed) Governor Christopher Waller made “hawkish” comments. ” about interest rate cuts this year.
According to Governor Christopher Waller, the US is still “a long way away” from the Fed’s 2% inflation target and the central bank should not rush to cut interest rates until it is clear that lower inflation will be achieved. maintained. Although gold prices on the world market have declined, SJC gold bar prices still hang at a very high level, while gold rings are around historical peaks.
While the price of national brand SJC gold bars decreased significantly and remained at 76.5 million VND/tael, about 16 million VND/tael higher than the world’s, gold ring prices increased rapidly and had a gap with the world. up to nearly 4 million VND/tael. Gold rings are currently traded at about 64.2 million VND/tael.
Gold price forecast
The sharp increase in USD price on the black market also pushed up the domestic gold price.
Despite the downward adjustment due to the increase in USD price, world gold is still quite stable above the threshold of 2,000 USD/ounce.
Although gold fell, according to senior analyst Jim Wyckoff of Kitco Metals, safe-haven demand due to concerns related to tensions in the Middle East has significantly limited the decline in non-ferrous metals. Yellow.
With the gold market lacking a sustainable catalyst to push prices higher, some analysts note that geopolitical safe-haven demand will continue to support gold prices above $2,000/year. ounce.
Original link