Domestic gold price today 2/2/2024
On the afternoon of February 2 , the price of SJC 9999 gold decreased by 200,000 VND/tael in both buying and selling prices compared to early this morning.
The price of 9999 gold was updated by Saigon Jewelry Company Limited (SJC) at 13:58 and the price of 9999 gold was listed by DOJI Jewelry Group at 14:27 as follows:
| Buy | Sell | |
| SJC Hanoi | 76,200,000 VND/tael | 78,520,000 VND/tael |
| SJC HCMC | 76,200,000 VND/tael | 78,500,000 VND/tael |
| SJC Danang | 76,200,000 VND/tael | 78,520,000 VND/tael |
| DOJI Hanoi | 76,050,000 VND/tael | 78,450,000 VND/tael |
| DOJI HCMC | 76,050,000 VND/tael | 78,450,000 VND/tael |
SJC and DOJI gold price list updated on the afternoon of February 2
Early morning of February 2 , the price of 9999 gold today increased by 400 thousand VND/tael in both buying and selling compared to the end of yesterday's session.
The price of 9999 gold was updated by Saigon Jewelry Company Limited (SJC) at 8:56 am and the price of 9999 gold was listed by DOJI Jewelry Group at 8:50 am as follows:
| Buy | Sell | |
| SJC Hanoi | 76,400,000 VND/tael | 78,720,000 VND/tael |
| SJC HCMC | 76,400,000 VND/tael | 78,700,000 VND/tael |
| SJC Danang | 76,400,000 VND/tael | 78,720,000 VND/tael |
| DOJI Hanoi | 76,050,000 VND/tael | 78,450,000 VND/tael |
| DOJI HCMC | 76,050,000 VND/tael | 78,450,000 VND/tael |
SJC and DOJI gold price list updated early morning 2/2
At the close of the session on February 1, the price of 9999 gold bars at SJC Ho Chi Minh City was VND76 million/tael (buy) and VND78.3 million/tael (sell). SJC Hanoi listed at VND76 million/tael (buy) and VND78.32 million/tael (sell).
DOJI Hanoi listed at 75.85 million VND/tael (buy) and 78.25 million VND/tael (sell). DOJI Ho Chi Minh City bought SJC gold at 75.85 million VND/tael and sold at 78.25 million VND/tael.
The central exchange rate on February 2, 2024 announced by the State Bank is 23,960 VND/USD, unchanged from the previous session. The USD price at commercial banks this morning (February 2) was listed at 24,200 VND/USD (buy) and 24,570 VND/USD (sell).
International gold price today 2/2/2024
At 8:49 a.m. today (February 2, Vietnam time), the world spot gold price stood at around 2,053.4 USD/ounce, up 11.7 USD/ounce compared to last night. The gold futures price for April 2024 on the Comex New York floor was at 2,070.9 USD/ounce.
The international gold price on Kitco floor at 9:00 p.m. on February 1 (Vietnam time) stood around 2,041.7 USD/ounce, up 2 USD compared to the closing price of the previous session.
However, the price of gold in April at the beginning of the trading session on February 1 (US time) decreased by 19.2 USD to 2,048.1 USD/ounce due to pressure from the results of the latest FOMC meeting of the US Federal Reserve (Fed).
The meeting resulted in the Fed's announcement that it would continue to keep interest rates unchanged. This shows that US inflation is gradually approaching the 2% target, meaning that the US economy is growing steadily.
According to analysts, gold investors are hoping for a rate cut by the FOMC in March. However, after this announcement, many people believe that the Fed's earliest rate cut will take place in June. Therefore, gold prices fell sharply on the first day of trading.
Gold experts say that banks around the world will certainly follow the Fed in not cutting interest rates soon. This is a shock to gold investors, but it is an opportunity for banks around the world to continue pouring money into gold.
Sweden's central bank, the Riksbank, kept its main interest rate steady at 4.0% and said tighter monetary policy was still needed to stabilise inflation closer to its target rate.
The Bank of England also left monetary policy unchanged, keeping its key interest rate at 5.25%.
Gold Price Forecast
Despite the Fed's announcement that was unfavorable to the market, gold clearly still has some safe-haven demand after the terrorist attack in Jordan that killed three US soldiers.
Although gold is weighed down by interest rate expectations, TD Securities commodity strategist Daniel Ghali said that physical demand from central banks will continue to support the precious metal.
Gold demand from central banks around the world will continue to increase strongly this year, according to experts from the World Gold Council.
Source
Comment (0)