Precious metals continue to decline

The world gold price today listed on Kitco is at 1,919 USD/ounce, down 11 USD/ounce compared to early this morning.

Gold prices fell after the US jobs report was released, with the number of unemployment claims falling to the lowest level since mid-March.

World gold continued to fall in response to the "hawkish" tone of US Federal Reserve (Fed) officials at the September monetary policy meeting and of the head of the world's most powerful central bank, Jerome Powell, at the press conference that followed.

" US stocks fell and the dollar rallied after the Fed kept interest rates steady and signaled another rate hike this year. The US economy remains strong and this rate hike cycle could be longer, " said OANDA analyst Ed Moya.

Gold prices fell sharply today. (Photo: Kitco.com).

Elsewhere, the Bank of England held its regular monetary policy meeting and kept interest rates unchanged as expected. Meanwhile, the Swiss central bank also kept interest rates steady after a series of hikes.

Gold price movements today

+ Domestic gold price

At 6:30 a.m. on September 22, the gold price at Doji was listed at 68.55 - 69.4 million VND/tael (buy - sell), an increase of 150,000 VND/tael compared to yesterday afternoon.

Meanwhile, the gold price at SJC was listed at 68.45 - 69.15 million VND/tael (buy - sell), an increase of 150,000 VND/tael.

+ International gold price

The world gold price listed on Kitco is at 1,911 USD/ounce, down 11 USD/ounce compared to early this morning. Gold futures last traded at 1,940 USD/ounce.

Gold Price Forecast

Looking ahead to gold, George Milling-Stanley, chief gold strategist at State Street Global Advisors, said that while the gold market is lacking momentum, the investment potential for the precious metal remains good and there is plenty of upside potential.

He said that the fact that gold maintained a solid support level above $1,900/ounce amid the difficulties is a good sign that the market is ready for a new uptrend.

Milling-Stanley expects investment demand for gold to increase as investors realize the value it adds to their portfolios.

He noted that despite gold's lackluster performance year-to-date, the market has built a solid foundation that is more than $200 above last year's low.

Ngoc Vy

Source: https://vtc.vn/gia-vang-hom-nay-22-9-kim-loai-quy-chua-dung-da-giam-ar821712.html