World gold price today increased sharply
Gold price today, at 6:00 a.m. on October 11, jumped to 2,629 USD/ounce, a sharp increase of 22 USD compared to the same time yesterday at 2,607 USD/ounce.
World gold prices jumped after the US released the latest economic data. Accordingly, the consumer price index (CPI) in September 2024 increased by 0.2%, 0.1 percentage points higher than the forecast of 0.1% and increased by 2.4% compared to the same period last year.
This information is considered by analysts to be beneficial for the gold market, because there is no possibility of a change in the US Federal Reserve's (FED) loose monetary policy. As a result, investors are increasing their expectations that the FED will reduce interest rates by another 0.25% in November, the USD may depreciate, creating momentum for gold prices to rise in the future.
Therefore, at this time, many people increase their purchasing power. The world gold price today rebounded after 6 sessions of decline, which is understandable.
The previous price of SJC gold in Vietnam on October 10 dropped to 84.5 million VND/tael. The price of gold rings also dropped to 82.8 million VND/tael.
Source: https://nld.com.vn/gia-vang-hom-nay-11-10-bat-tang-tro-lai-196241011062835831.htm
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