Any developments in this meeting can affect gold prices in the future.
Closing the trading session on December 13, Saigon Jewelry Company listed the buying and selling price of SJC gold at 72.8-73.82 million VND/tael, an increase of 200,000 VND/tael compared to yesterday's closing session. via.
Doji HN gold listed gold price at 72.8 - 73.8 million VND/tael, an increase of 300,000 VND/tael for buying and an increase of 400,000 VND/tael for selling compared to the previous session's close.
Phu Quy SJC is purchasing SJC gold bars at the price of 72.9 - 73.8 million VND/tael, an increase of 250,000 VND/tael of buying and an increase of 200,000 VND/tael of selling compared to the previous closing session.
On the world market, gold price reached 1,982.67, down 0.08 USD at 8:51 pm on December 13 Vietnam time.
According to the World Gold Council, central banks in emerging markets bought an average of 473 tons of gold per year from 2010 to 2021. In 2022 alone, they bought 1,100 tons of gold and in the first three quarters of the year This year it is 800 tons. That breakneck pace of buying “could continue for years, if not decades,” said John Reade, market strategist at the World Gold Council.
World gold decreased slightly
Victoria Scholar, head of investments at Interactive Investor, added: “Concerns about an unstable global economic backdrop and the Israel-Hamas conflict have fueled investor demand for these assets. safe haven products like gold. In addition, expectations of a Fed interest rate cut next year have put downward pressure on the USD, further increasing the appeal of gold."
Currently, investors are focusing on the US Federal Reserve (Fed) meeting taking place today, Washington time. Any developments in this meeting can affect gold prices in the future."
Domestic gold prices often move in the same direction as world gold prices, so it is likely that gold prices will decrease during the session on December 14.
Gold prices soared high and then fell to the price range this morning after a newly released report showed that consumer prices in the US still did not decrease in November.
At 8:45 a.m. this morning, December 13, Vietnam time, the world gold price stood at 1,980 USD/ounce, down slightly by 3 USD/ounce compared to the same time last morning.
Gold prices soared high and then fell to the price range this morning after a newly released report showed that consumer prices in the US did not decrease in November. Inflation data was released before the monetary policy meeting. of the US Federal Reserve (Fed) in 2023. The market is expecting the US Central Bank to maintain interest rates at the upcoming meeting.
According to economist Andrew Hunter of Capital Economics, the stronger increase in core consumer prices suggests that the Fed may maintain its tightening trend a little longer.
Economists note that the latest inflation data could cause a shift in market expectations for an interest rate cut as early as March. Fed officials have emphasized that they need to see a sustainable downward trend in inflation before starting to reduce interest rates.
Currently, investors are still waiting for clearer signals from the Fed on monetary policy. In their 2024 outlook, WGC analysts said they see three potential scenarios that could impact gold prices next year.
In the first scenario, if the US economy has a soft landing, avoiding recession but experiencing low growth, gold prices will maintain around current levels. The Fed may cut interest rates twice in 2024.
In the second scenario, the US economy has a hard landing and falls into recession. This will be a good environment for gold because the US will have to sharply cut interest rates to support the economy.
In the third scenario and considered unlikely, it is assumed that the US economy grows steadily. At that time, gold will be under downward pressure.
Closing the trading session on December 13, Saigon Jewelry Company listed the buying and selling price of SJC gold at 72.8-73.82 million VND/tael, an increase of 200,000 VND/tael compared to yesterday's closing session. via.
Doji HN gold listed gold price at 72.8 - 73.8 million VND/tael, an increase of 300,000 VND/tael for buying and an increase of 400,000 VND/tael for selling compared to the previous session's close.
Phu Quy SJC is purchasing SJC gold bars at the price of 72.9 - 73.8 million VND/tael, an increase of 250,000 VND/tael of buying and an increase of 200,000 VND/tael of selling compared to the previous closing session.
On the world market, gold price reached 1,982.67, down 0.08 USD at 8:51 pm on December 13 Vietnam time.
According to the World Gold Council, central banks in emerging markets bought an average of 473 tons of gold per year from 2010 to 2021. In 2022 alone, they bought 1,100 tons of gold and in the first three quarters of the year This year it is 800 tons. That breakneck pace of buying “could continue for years, if not decades,” said John Reade, market strategist at the World Gold Council.
World gold decreased slightly
Victoria Scholar, head of investments at Interactive Investor, added: “Concerns about an unstable global economic backdrop and the Israel-Hamas conflict have fueled investor demand for these assets. safe haven products like gold. In addition, expectations of a Fed interest rate cut next year have put downward pressure on the USD, further increasing the appeal of gold."
Currently, investors are focusing on the US Federal Reserve (Fed) meeting taking place today, Washington time. Any developments in this meeting can affect gold prices in the future."
Domestic gold prices often move in the same direction as world gold prices, so it is likely that gold prices will decrease during the session on December 14.
Gold prices soared high and then fell to the price range this morning after a newly released report showed that consumer prices in the US still did not decrease in November.
At 8:45 a.m. this morning, December 13, Vietnam time, the world gold price stood at 1,980 USD/ounce, down slightly by 3 USD/ounce compared to the same time last morning.
Gold prices soared high and then fell to the price range this morning after a newly released report showed that consumer prices in the US did not decrease in November. Inflation data was released before the monetary policy meeting. of the US Federal Reserve (Fed) in 2023. The market is expecting the US Central Bank to maintain interest rates at the upcoming meeting.
According to economist Andrew Hunter of Capital Economics, the stronger increase in core consumer prices suggests that the Fed may maintain its tightening trend a little longer.
Economists note that the latest inflation data could cause a shift in market expectations for an interest rate cut as early as March. Fed officials have emphasized that they need to see a sustainable downward trend in inflation before starting to reduce interest rates.
Currently, investors are still waiting for clearer signals from the Fed on monetary policy. In their 2024 outlook, WGC analysts said they see three potential scenarios that could impact gold prices next year.
In the first scenario, if the US economy has a soft landing, avoiding recession but experiencing low growth, gold prices will maintain around current levels. The Fed may cut interest rates twice in 2024.
In the second scenario, the US economy has a hard landing and falls into recession. This will be a good environment for gold because the US will have to sharply cut interest rates to support the economy.
In the third scenario and considered unlikely, it is assumed that the US economy grows steadily. At that time, gold will be under downward pressure.
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