On the world market, gold price was traded at 1947.71 USD / ounce, equivalent to 54.59 million VND / tael.
The world gold price dropped sharply because the stock markets continued to increase strongly and the USD suddenly soared before a currency war between the world powers.
World gold fell in the context of most of world stock markets rallied, in which US stock indexes such as Nasdaq Composite and S&P 500 reached new highs.
The dollar suddenly rebounded after bouncing off a two-year low thanks to data from the US showing that the country's manufacturing activity in August rose to a nearly two-year high.
The greenback rose sharply after Europe signaled a currency war. The European Central Bank (ECB) has issued a warning about the Euro's appreciation in recent times.
On Kitco, ECB chief economist Philip Lane thinks the current Euro / USD rate is a problem. The rate of appreciation of the Euro (against the USD) has been too high recently compared with the expectations of the European Central Bank.
Experts say that the world gold fluctuates due to many factors, such as the uncertainty of the international financial market, the geopolitical changes in the world, the dramatic presidential election in the US as well as trade and currency wars on a global scale ...
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Over the past three weeks, the world gold price fluctuated sharply after setting an all-time high record of $ 2,072 per ounce on August 7, 2020. Gold price dropped to nearly 1,900 USD / ounce before rising back to nearly 2,000 USD / ounce.
According to experts, the world gold fluctuates due to many factors, such as the uncertainty of the international financial market, the geopolitical changes in the world, the dramatic presidential election in the US. such as the trade wars, currencies on the global scale ...
In the domestic market, at 9:00 am this morning, the price of SJC gold listed by the Saigon Jewelry Company, Hanoi branch, traded at: 55.98 million VND / tael (purchased) and 57.07 million dong / tael (sold out), gold price dropped by 420,000 dong / tael in the buying direction and 650,000 dong / tael in the selling direction compared to yesterday.
Meanwhile, the price of SJC gold in the city market. Ho Chi Minh City, listed by the Saigon Jewelry Company for trading at: 55.98 million VND / tael (bought in) - 57.07 million / tael (sold out), gold price decreased by 420,000 VND / tael. on the buying side and down 650,000 dong / tael in the selling side compared to the close yesterday.
SJC gold price of Bao Tin Minh Chau Co., Ltd is listed at: 56.00 million dong / tael (buy in) and 56.70 million dong / tael (sold out), gold price drops 420,000 dong / tael in the buying direction. entered and decreased 500,000 VND / tael in the afternoon selling compared to the closing session yesterday.
Thang Long Dragon gold price traded at: 53.44 million / tael (buy in) - 54.34 million VND / tael (sold out), gold price decreased by 650,000 VND / tael in the buying direction and decreased 1,050,000 VND. / volume in the afternoon selling compared to the closing session yesterday.
By Tran Cong
The world gold price dropped sharply because the stock markets continued to increase strongly and the USD suddenly soared before a currency war between the world powers.
