On the afternoon of September 8, domestic gold prices remained "unmoved" even though world gold prices reached a new peak.

(NLDO) - World gold prices increased sharply in the first session of the week, surpassing the 3,600 USD/ounce mark for the first time, while gold prices in Vietnam remained stable on September 8.

World gold price hits new peak of 3,612 USD/ounce

On the afternoon of September 8 (Vietnam time), the spot gold price on the world market reached 3,612 USD/ounce, an increase of about 25 USD (equivalent to 800,000 VND), marking the highest level ever.

According to analysts, this increase comes from the disappointing US jobs report, reinforcing expectations that the Federal Reserve (FED) will lower interest rates at its policy meeting in September. Lower interest rates along with a weaker USD are often the driving force for gold prices to rise.

The USD-Index (DXY) is currently at 97.6 points and has maintained a low level for many days.

Domestically, the price of SJC gold bars and gold rings continues to be stable, not keeping up with the strong fluctuations of the world market.

SJC gold bar price was stable on September 8-9, around 135 million VND/tael at gold companies.

Domestic gold price is still nearly 20 million VND/tael higher than world price.

On the afternoon of September 8, large enterprises such as SJC, DOJI , and PNJ listed the price of gold bars at 133.1 million VND/tael for buying and 135.1 million VND/tael for selling - stable compared to the morning, after decreasing by 300,000 VND/tael compared to yesterday.

The price of 99.99% gold rings and jewelry gold was kept at 127.7 - 130.2 million VND/tael (buy - sell), unchanged from yesterday.

In the free market, SJC gold bars also slowed down after a sharp decline. Some stores in Ho Chi Minh City quoted buying prices of 135.5 million VND/tael and selling prices of 138.5 million VND/tael.

Converted according to the listed exchange rate, the world gold price is currently around 115.4 million VND/tael, lower than SJC gold bars by around 19.7 million VND/tael. This difference has narrowed compared to previous days, but is still high.

Under the Prime Minister 's direction, the State Bank was assigned to promptly issue documents guiding Decree 232 amending and supplementing Decree 24 on gold market management; and at the same time coordinate with ministries and branches to have solutions to prevent risks and negative impacts during the transition period.

World gold price skyrocketed, surpassing 3,600 USD/ounce for the first time

Source: https://nld.com.vn/chieu-8-9-gia-vang-trong-nuoc-bat-dong-du-gia-vang-the-gioi-lap-dinh-moi-196250908150756713.htm