► SJC gold price volatility late this week than international prices and exchange rates continue to hold higher world price equivalent of about 5 million / tael ...
SJC gold prices up slightly in light turn today after last week dropped to the lowest level in two months yesterday. This week, domestic gold prices down 250,000 dong / tael.
At more than 10 hours this afternoon, the Group reported DOJI Jewelry SJC Hanoi market at 40.38 million / tael (purchase) and 40.46 million / tael (sold out). Compared with the end of the afternoon yesterday, the SJC in DOJI up 50,000 dong / tael in buying and selling both directions.
Similarly in DOJI, many large jewelry companies in Hanoi on applying price differentials buy SJC gold-selling low, commonly less than 100,000 dong / tael.
At the same time the market in Ho Chi Minh City, the company Saigon Jewelry (SJC) SJC gold price listed at 40.3 million dong / tael and 40.5 million / tael, equivalent to the purchase price and price. At these levels, the SJC SJC is up 50,000 dong / tael and bought up 40,000 dong / tael compared to last sale yesterday afternoon.
Domestic gold prices rose slightly this morning's action in response to rising prices in last night's international gold price. However, just as in previous weeks, this week SJC slower fluctuations of international prices and exchange rates continue to hold higher world price equivalent of about 5 million / tael.
Yellow tender from State Bank was "order" in this week, as opposed to air gloomy trading on the market. While buying and selling gold and less people, then all three gold auction that the State Bank held in the same week sold almost 1 ton volume each bidding session.
So far, after 31 gold auctions, the State Bank has sold 30.3 tonnes of gold. Only the right half of the month is coming on 30/6, the deadline for all credit institutions accounting gold status. The business of gold that people are waiting until after the psychological moment to watch the domestic price developments will the new direction taken by the decision to buy or sell.
Forecast of domestic gold market after 30/6, in an interview with Bloomberg financial news agency recently, Nguyen Thanh Truc, Vice President Business Association Vietnam gold (VGTA) for that gold demand will fall because banks have done finalization, while domestic price gap-down world, but also will not be much reduced.
Specifically, Mr. Zhu, the end of July, the price difference will be reduced to approximately 4 million / tael. Mr. Zhu also said that the difference in the price of gold in international water-less than 1 million / tael is reasonable.
Compared to last week, the SJC gold price fell 250000-270000 dong / tael depending on the listing of each unit.
Free USD in Hanoi this morning 21220-21230 at the popular (purchased) and the 21250-21260 (sold out). Compared to yesterday morning, the rising price of U.S. $ 10 free in the afternoon to buy but did not change in the selling side.
Closing session last night in New York, gold for immediate delivery rose 5.8 USD / oz compared to the previous session close, at $ 1,392.5 / oz.
For the whole week, spot gold prices gained 0.3%. Gold has moved in a narrow range just as the forecast earlier in the week, as investors keep cautious attitude about the possibility of the U.S. Federal Reserve (Fed) may soon narrowed or cut reduction policy of quantitative easing (QE).
Over the past 4 weeks, 3 weeks gold has increased, but only up to speed slowly. The milestones keep $ 1,400 / oz remains a difficult task for the gold price at this time.
The U.S. economic data last week has good numbers, but there are also some less positive numbers. So, investors are still waiting for more to determine the ability of the Fed to act. In the coming weeks, the focus of the market will be the monetary policy meetings held periodically in the days of Fed 18-19/6.
This week, the investment trust world's largest gold SPDR Gold Trust sold 3.6 tons of gold, hold down the volume of 1003.5 tons. This is the lowest level of funds held within about 4 years ago. From the beginning, SPDR Gold has sold nearly 347 tons of gold.
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