.jpg "Each tael of gold reversed and decreased by more than 3 million VND.")
.jpg "Bao Tin Manh Hai listed the highest price of round gold rings in Hai Duong, at 100.5 million VND.")
.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
World gold prices rose more than 1% to a record high in the trading session on September 12, ahead of expectations that the US Federal Reserve (Fed) will cut interest rates next week, following data showing the economy is slowing down.
At 1:10 a.m. on September 13, Vietnam time, spot gold price increased 1.7% to 2,554.05 USD/ounce, while gold futures price increased 1.5% to 2,580.60 USD/ounce.
Initial claims for unemployment benefits rose 2,000 to a seasonally adjusted 230,000, the Labor Department said. U.S. producer prices rose a little more than expected in August as services prices rose, but the data still pointed to a moderating inflation trend.
Alex Ebkarian, CEO of Allegiance Gold, said the figures are creating conditions for the Fed to lower interest rates, so gold is becoming more attractive to investors.
According to CME's FedWatch tool, the market is currently pricing in a 73% chance of the Fed cutting rates by 25 basis points at its September 17-18 meeting and a 27% chance of cutting by 5 basis points.
In the market of other precious metals, spot silver price increased 3.7% to 29.76 USD/ounce, while platinum price increased 3% to 979.62 USD/ounce.
In Vietnam, on the afternoon of September 12, Saigon Jewelry Company listed the price of SJC gold in the Hanoi market at 78.50 - 80.50 million VND/tael (buy - sell).
