Wednesday, March 22, 2023 15:15 (GMT+7)
(CPV) - On the morning of March 22, gold prices at domestic gold and gemstone enterprises decreased slightly; meanwhile, world gold prices decreased sharply.
Opening the transaction, the price of SJC gold in Hanoi market was listed by Saigon Jewelry Company at 66.45 - 67.17 million VND/tael (buy - sell), down 150 thousand VND/tael in both buying and selling compared to the closing price at the end of yesterday's session.
At Phu Quy Jewelry Company, the listed price of SJC gold is 66.5 - 67.2 million VND/tael (buy - sell), down 150 thousand VND/tael for buying and 100 thousand VND/tael for selling compared to yesterday's closing price.
World gold prices fell sharply early this morning with spot gold falling $37.9 to $1,941.4 an ounce. Gold futures last traded at $1,944 an ounce, down $39.6 from early the previous day.
Despite the fall in gold, amid concerns about the current global banking crisis, experts say gold will perform well throughout 2023.
The big news to watch on Wednesday (US time) is the decision of the US Federal Reserve (Fed) at this policy meeting. There is still debate about whether the Fed will raise the base interest rate by 25 basis points or keep it unchanged in the context of the US and European banking crisis. With the market calmer today, many market watchers are leaning towards a 25 basis point increase in the Fed funds rate. The European Central Bank's 50 basis point rate hike last week also makes the FOMC more likely to raise the interest rate by 25 basis points.
With the domestic gold price decreasing and the world gold price listed at Kitco at 1,941.4 USD/ounce (equivalent to nearly 55.6 million VND/tael if converted according to Vietcombank exchange rate, excluding taxes and fees), the difference between domestic and world gold prices is currently nearly 12 million VND/tael.
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