.jpg "Giá vàng nhẫn tròn 9999 ở Hải Dương lập đỉnh cao nhất lịch sử mới")
.jpg "Real estate market in the south of Hai Duong city is bustling")
.jpg "Extremely dangerous forest fire risk in Kinh Mon, Chi Linh")
-ac017d3d3ce25d3405471795d6bb26f0.jpg "Gia Loc needs over 10 billion VND to invest in renovating and expanding landfills.")
Submit a comment
On the morning of July 17, the world gold price was listed on Kitco at 2,468 USD/ounce, an increase of 40 USD/ounce compared to early this morning.
Gold prices hit a new record as investors became increasingly certain that interest rates would be cut in September following comments from US Federal Reserve Chairman Jerome Powell.
Accordingly, Mr. Powell said that inflation reports released in the second quarter have made the Fed believe that inflation is falling to the target level in a sustainable manner.
Although expectations of a Fed policy pivot are pushing gold prices to new record highs, Abrdn's chief investment strategist Robert Minter believes that the bright picture for gold is still ahead.
In a recent interview with Kitco News, Minter said that the Fed’s ability to avoid a recession is the reason he is confident that gold has a lot of upside potential going forward. He explained that because the Fed has been slow to react in the past, it will have to act a little faster to try to catch up. This makes the market almost certain that a rate cut will happen in September.
Gold price movements today
+ Domestic gold price
At 6:00 a.m. on July 17, the gold price at Doji was listed at 74.98 - 76.98 million VND/tael (buy - sell), unchanged from early this morning.
At the same time, the gold price at SJC was listed at 75.48 - 76.98 million VND/tael (buy - sell), unchanged.
+ International gold price
The world gold price listed on Kitco is at 2,468 USD/ounce, up 40 USD/ounce compared to early this morning. Gold futures last traded at 2,470 USD/ounce.
Gold Price Forecast
Gold prices also increased thanks to positive signals from technical analysis. The bullish momentum was established after the precious metal rose quite firmly above the threshold of 2,400 USD/ounce in recent days. The bullish momentum is being confirmed and gold is forecast to reach a new all-time high, possibly this week.
On DowJones Newswires, experts said that gold prices are increasing and may continue to increase as banks bet on the possibility that the Fed will have two interest rate cuts this year.
Gold is expected to benefit from the increased risk following the shooting of former US President Donald Trump at a campaign rally in Butler, Pennsylvania on July 13. If Trump wins the November election, the USD could weaken, pushing gold prices up.
VN (according to VTC News)
