Gold price today February 6, 2024: SJC gold increased dramatically, up to 78.7 million VND/tael

Domestic gold price today February 6, 2024

At 9:54 a.m. on February 6 , the price of SJC 9999 gold increased 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 9:54 a.m. and the price of 9999 gold was listed by DOJI Jewelry Group at 9:49 a.m. as follows:

	Buy	Sell
SJC Hanoi	76,500,000 VND/tael	78,720,000 VND/tael
SJC HCMC	76,500,000 VND/tael	78,700,000 VND/tael
SJC Danang	76,500,000 VND/tael	78,720,000 VND/tael
DOJI Hanoi	76,150,000 VND/tael	78,450,000 VND/tael
DOJI HCMC	76,050,000 VND/tael	78,350,000 VND/tael

SJC and DOJI gold price list updated on the morning of February 6

Early morning of February 6 , SJC gold price 9999 today increased by 100 thousand VND/tael in both buying and selling compared to yesterday's closing price.

The price of 9999 gold was listed by Saigon Jewelry Company Limited (SJC) at 8:27 am as follows:

	Buy	Sell
SJC Hanoi	76,300,000 VND/tael	78,520,000 VND/tael
SJC HCMC	76,300,000 VND/tael	78,500,000 VND/tael
SJC Danang	76,300,000 VND/tael	78,520,000 VND/tael

SJC gold price list updated early morning 6/2

At the close of the session on February 5, the price of 9999 gold bars at SJC Ho Chi Minh City was VND76.2 million/tael (buy) and VND78.4 million/tael (sell). SJC Hanoi listed at VND76.2 million/tael (buy) and VND78.42 million/tael (sell).

DOJI Hanoi listed at 76.05 million VND/tael (buy) and 78.35 million VND/tael (sell). DOJI Ho Chi Minh City bought SJC gold at 76.05 million VND/tael and sold at 78.35 million VND/tael.

The central exchange rate on February 6, 2024 announced by the State Bank is 23,964 VND/USD, an increase of 10 VND compared to the previous session. The USD price at commercial banks this morning (February 6) was listed at 24,180 VND/USD (buy) and 24,550 VND/USD (sell).

International gold price today 2/6/2024

At 8:48 a.m. today (February 6, Vietnam time) , the world spot gold price stood at around 2,027.1 USD/ounce, up 6.1 USD/ounce compared to last night. The gold futures price for April 2024 on the Comex New York floor was at 2,044 USD/ounce.

The price of gold on the Kitco floor (at 8:00 p.m. on February 5, Vietnam time) was trading at $2,021/ounce, down 0.89% from the beginning of the session. The price of gold futures for delivery in April 2024 on the Comex New York floor was trading at $2,038/ounce, down 0.78% from the beginning of the session.

gold price.jpeg — Gold prices fell in the US. (Photo: Kitco)

Gold prices fell at the beginning of the US trading session due to the increase in the USD index and US Treasury bond yields, and the decrease in crude oil prices. In addition, gold prices were also affected by the US employment report released last week. The US economy is still stable, making it possible that the US Federal Reserve (Fed) will not adjust interest rates at the upcoming meeting.

The US Dollar Index (DXY) measures the greenback's movements against six major currencies (EUR, JPY, GBP, CAD, SEK, CHF) increased to 104.37 points.

The yield on the benchmark 10-year US Treasury note is at 4.079%, up significantly from last Friday.

Investors will be looking ahead to January's services PMI this week. The Labor Department will release its weekly report on initial jobless claims on Thursday (February 8).

In addition, concerns about rising tensions in the Middle East appear to remain after the US began retaliatory strikes against militants who have caused tensions in the Red Sea.

Gold Price Forecast

Colin Cieszynski, chief market strategist at SIA Wealth Management, said gold prices will fall as the dollar strengthens. For gold to rise, it needs an external catalyst such as political, war or banking issues.

Everett Millman, chief market analyst at Gainesville Coins, predicts gold prices will stay flat or below $2,000 an ounce if there is a sell-off.

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