Breakthrough growth despite many restraining factors

Updated gold price closing session 11/15. Illustration photo: Phan Anh

Domestic gold price

Domestic gold price closed on November 14.

Domestic gold price fluctuations

Source: VDOS Dragon Online Service JSC.

World gold price fluctuations

Source: Kitco

World gold prices increased despite the increase in the USD. At 6:52 a.m., the US Dollar Index, which measures the greenback's fluctuations against six major currencies, was at 103.977 points (up 0.07%).

Gold prices rose after the US reported that inflation was unchanged from the previous month, rising 3.2% year-on-year, providing the Federal Reserve with more data that could slow the pace of interest rate hikes.

The core CPI, which excludes food and energy prices, rose just 0.2%, well below the forecasts and expectations of analysts polled, who had forecast a 0.3% increase. This was the smallest increase in the inflation index since September 2021. One of the main factors was a 2.5% drop in energy prices. However, food prices rose 0.3%.

According to CME's FedWatch tool, the probability of a rate hike pause at the December Federal Open Market Committee meeting has increased significantly to 99.8%, up from 69.6% a month ago and 85.5% yesterday.

Oil prices, which are closely related to the precious metal, also continued to rise. Oil prices rose as manufacturing output and retail sales in China beat forecasts, a day after the International Energy Agency (IEA) raised its forecast for global demand growth this year.

Brent crude futures rose 0.2% to $82.65 a barrel at 1:47 p.m., while U.S. West Texas Intermediate (WTI) crude also rose 0.2% to $78.41 a barrel.

China's economic activity picked up in October, with industrial output rising at a faster pace and retail sales growth beating forecasts, a welcome sign for the world's second-largest economy.

Although gold and oil prices both increased, Asian stock markets also recorded strong gains at the end of the session on November 15.

Japan's Nikkei 225 rose 2.52 percent, or 823.77 points, to 33,519.7. Hong Kong's Hang Seng Index rose 3.92 percent, or 682.14 points, to 18,079. The Shanghai Composite Index rose 0.55 percent, or 16.76 points, to 3,072.83.

Source: https://laodong.vn/tien-te-dau-tu/cap-nhat-gia-vang-chot-phien-1511-tang-but-pha-du-co-nhieu-yeu-to-kim-nen-1267697.ldo