Domestic gold price
The current gold buying and selling price difference has been adjusted to increase to 3 million VND. This difference is considered very high. Investors face the risk of loss when businesses push the risk onto buyers.
World gold price
World gold prices are facing many obstacles in the context of the USD anchored at a high level. Recorded at 5:45 p.m., the US Dollar Index measuring the fluctuations of the greenback against 6 major currencies was at 102.097 points.
Gold Price Forecast
Gold prices rose to a one-week high on Friday, as investors were encouraged by escalating tensions in the Middle East, which have fueled demand for the precious metal as a hedge against capital flight. Meanwhile, falling US producer price inflation has fueled expectations that the Federal Reserve could cut interest rates sooner.
Kelvin Wong, senior market analyst for Asia- Pacific at financial firm OANDA, said that market attention is focused on rising geopolitical tensions in the Middle East, which is supporting gold prices.
Meanwhile, Bart Melek, head of commodity strategy at investment bank TD Securities (Canada), said that the increase in geopolitical risks is pushing up gold prices. "At the same time, the Fed may be ready to start adjusting its tightening monetary policy," the expert said.
According to the CME Fedwatch tool, investors see an 80% probability that the Fed will cut interest rates in March 2024, higher than the 70% forecast before the PPI report.
See more articles about gold prices on Lao Dong Newspaper here...
Source
Comment (0)