► On the chart, the SJC gold price this morning has hit its lowest level since the beginning of May 7/2011 ..
SJC gold price movements in DOJI - Source: DOJI
Not able to hold the international gold price plummeting lows of 3 years, SJC gold price this morning fell on to level 38 million / tael. Over the past 2 years, when the SJC not cheap this time. Compared with the world price of gold exchange, gold prices are higher SJC sold 5.5 million / tael.
At 9:30 this morning, the Group reported DOJI Jewelry SJC Hanoi market at 38.25 million / tael (purchase) and 38.8 million / tael (sold out). Compared with the end of yesterday afternoon, SJC gold price in the reduction DOJI 750,000 dong / tael for buying and down 550,000 dong / tael for sale.
SJC gold price at the moment due to the company Saigon Jewelry (SJC) decline was listed. Quote SJC brand gold at HCMC market at 38.25 million / tael (purchase) and 38.8 million / tael (sold out), down 800,000 dong / tael for buying and 550,000 VND / tael for sale.
Before that, at the time, the purchase price of SJC gold at the unit fell on the threshold of 38.1 million / tael, down nearly 1 million / tael compared to late yesterday afternoon.
The caution of the gold business is evident in the wide gap between the buying price and the selling, popular at 550,000 dong / tael at the present time. In addition to the international price of gold fell sharply, the gold companies are cautious when the State Bank to continue offering tons of gold 1 at 9 this morning.
On the chart, the SJC gold price this morning has hit its lowest level since the beginning of May 7/2011. But the gold market in the country does not have a connection to the world and the recent domestic price stability than international prices, but too strong downward pressure from the international gold making gold in the country can not avoid the first slide consecutive weeks from now.
If compared to the early hours of Monday morning, the SJC gold prices fell nearly 2 million / tael. Compared with the world price of gold exchange, gold prices are higher SJC sold 5.5 million / tael.
Yesterday afternoon, international gold prices have "free fall" when the European market began in the transaction. Da sustained decline in market trading in New York.
In the U.S. session, spot gold trading on 20/5 "took off" 73.5 USD / oz, equivalent to 5.4%, and $ 1,278.8 / oz. This is the lowest price of gold in the world for 3 years.
Early hours this morning in Asia, gold prices continued to decline. However, since about 9 hours Vietnam gold prices rebounded by buying at low prices. At more than 9, spot gold cost $ 1,290.9 / oz, up 12.1 USD / oz compared to the closing price in New York last night.
According to Reuters, last night was one of the strongest takes on the international gold market since the financial crisis of 2008. Investors have massive sell-off of gold when prices penetrate support key $ 1,320 / oz. The technical analysts said that gold prices could be reduced by 6% more new found new support in the $ 1,200 / oz.
The main reason leading to consecutive losing sessions this week's gold price is that the U.S. Federal Reserve (Fed) statement can narrow scale of quantitative easing (QE) this year and This program ended in mid-next year.
Not only gold but also a series of other assets decline sharply in last night due to concerns about the possibility of QE came to an end. Silver dropped 8%, the U.S. stock market lost 2.5% points, while oil prices plunge 4%.
Meanwhile, yields on U.S. Treasury bonds soared, which yields 10-year term to the highest level since May 8/2011. So investors more reasons to sell gold and other assets to inject money into bonds.
Currently gold prices are falling deep in bear market conditions. Compared with a record over $ 1,920 / oz set in 9/2011, the gold price is down more than 30%.
Trust investment world's biggest gold SPDR Gold Trust remained net sellers yesterday added 4.2 tonnes of gold, hold down the volume of 995.4 tons.
Free USD this morning continue to skyrocket. In Hanoi, this exchange on the "black market" popular in the 21350-21360 level (buying) and 21390-21400 copper (sales), an increase of 50 in the afternoon in the buying and selling side 60 over last yesterday afternoon.
USD Price on the set up of the commercial banks remained stable over the 21,000 threshold. Vietcombank reported at USD 21 025 and 21 036 dong dong, respectively selling and buying prices, with prices of yesterday. Eximbank also maintain the listing at 21 015 dollars bought and sold at 21,036 dong.
At the Tokyo market, the exchange rate Euro / USD this morning more common at $ 1.32 / Euro. Light sweet crude oil futures in New York at 9:30 Vietnam is now $ 95.4 / barrel, equal to the previous closing.
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