Gold prices fell straight to level 36 million / tael

► Domestic gold prices are shown "weakness" than the international price of gold ...

  

                                 SJC gold price movements in DOJI - Source: DOJI. 

Maintain international gold price trend of recovery, but domestic prices have not brake this afternoon and dropped straight slide 36 million / tael. Compared with the opening this morning, where the price of gold fell more than 1 million / tael.

Late this afternoon (27/6), Gold and Silver Corporation DOJI listed SJC Hanoi market at 36.35 million / tael (purchase) and 36.65 million / tael (sold out), down 610,000 dong / tael in the afternoon buying and selling side against the early hours of the morning.

Earlier, SJC gold prices at this unit has dropped to the level of 36.1 million / tael.

At the same time the market in Ho Chi Minh City, the company Saigon Jewelry (SJC) SJC gold quotes at 36 million dong / tael and 36.65 million / tael, equivalent to the purchase price and the selling price. If compared to the open this morning, SJC gold price in the company fell 1.15 million / tael for buying and reduce 800,000 dong / tael for sale.

Domestic gold prices are shown "weakness" than the international price of gold. World gold prices from morning to afternoon held a slight recovery trend, but the domestic gold price keeps "evaporated".

On charts, gold prices are the lowest since the beginning of the month 2/2011. Since the beginning of this coming week, SJC gold price has lost about $ 2.8 million / tael. Gold prices lost landmark 38 million / tael on Monday, slipping further 37 million dong / tael this morning, and is currently eyeing up Cambodian risk of mold caused 36 million / tael.

Domestic gold prices fell rapidly, contrary to the trend of recovery in the world price of gold so gold price differences in water-short world is drawn in part. Late this afternoon, the world gold price USD converted at similar free 31.8 million / tael, lower than the retail price of SJC gold in water for 4.8 million / tael. The price difference is close to $ 6 million / tael yesterday and fell on over 5 million / tael this morning.

At nearly 17 pm this afternoon, spot gold prices in the European market increased 11.1 USD / oz compared to the New York close, trading at wor $ 1,237.3 / oz.

According to analysts, gold prices move in today's recovery is due to buying at low prices of a number of Asian investors. In addition, Q1 GDP statistics less satisfactory adjusted that the U.S. Commerce Department announced last night also reduces the expectation of the Federal Reserve Board this country (FED) narrow monetary policy easing (QE ), which support the gold price.

However, the gold price has not recovered from the bottom of the high-set 3 years yesterday. Downward pressure on gold is still at large.

"The psychology of investors is quite bad at the moment," a trader in Hong Kong said. "For investors back to gold prices should be cut down and open up a new rally."

From the beginning of this year, international investors have turned to gold significantly. Compared to the beginning of the year, gold prices have fallen more than 26% and is now poised to complete its worst quarterly decline since at least 1968.

ABN Amro is the latest bank to cut gold forecasts. The bank cut its forecast for the 2013 core $ 1,100 / oz from $ 1,300 / oz previously given. Gold price forecast for 2014 was also key cut for 900 USD / oz from $ 1,000 / oz, with facility is operational gold sales of investment funds.

"There is no reason to hold gold because investors bullish outlook for gold prices and uncertain income does not bring anything," ABN Amro analysts wrote in a report.

Demand for physical gold is still no positive signs at the top gold consumer, India and China. On April price cuts, people in this country buy gold during the Olympics. Currently India's gold market was in doldrums for gold import duty, while the Chinese market was negatively affected by concerns about tightening credit sources.