Gold in the period of decline after profit-taking pressure

MAI ANH — Sat, 24 Apr 2021 06:17:07 +0000

The world gold price today April 24 continued to decrease slightly in the context of a strong dollar increase, profit-taking pressure and better economic data ….
Early this morning (April 24), the world gold price was trading at 1,776 USD / ounce, down 8 USD / ounce compared to the beginning of last hour. Gold futures for delivery in May on the Comex New York floor increased by more than 5 USD to 1,786.7 USD / ounce.

Gold prices are under great pressure due to strong economic data, especially reports of very strong US home sales, the highest in more than 14 years. In addition, the dollar rose 0.2% against a basket of other major currencies, making gold more expensive for buyers holding other currencies. Gold price decreased in the context of strong USD increase, profit-taking pressure … (Artwork) Meanwhile, the US 10-year government bond yields rose to the intraday high of 1.587%, though still only fluctuated in a narrow band. Gold prices have fallen 6% this year so far, mainly due to pressure from the rise in US government bond yields. Gold turned down slightly because the US labor market gave out new positive signals. The number of people applying for unemployment benefits for the first time in the week ending on April 17 was lower than forecast and the lowest in over a year. The most important event to watch next week will be the Federal Reserve’s monetary policy meeting. Marc Chandler, CEO of Bannockburn Global Forex, said that a moderate FED could push gold prices above $ 1,800 / ounce. In the domestic market, the price of gold bars yesterday (April 23) was listed by Doji Jewelry Group for the Hanoi area: 55.45 million VND / tael (bought in) and 55.85 million / volume (sold). Saigon Jewelry Company listed SJC gold price applicable to the Hanoi area at 55.48 million dong / tael (bought in) and 55.85 million dong / tael (sold out). In Saigon, the domestic gold price was listed by Doji Jewelry Group at: 55.45 million VND / tael (bought in) and 55.85 million VND / tael (sold out). Saigon Jewelry Company listed SJC gold price at 55.48 million dong / tael (bought in) and 55.86 million dong / tael (sold out).

The gold price on April 15 turned down sharply

Hồng Quyên — Thu, 15 Apr 2021 04:40:11 +0000

Gold price update today April 15 recorded a decline when investors sold out to take profit despite the dollar’s continued weakness.

Recorded at the beginning of the morning session on April 15 at 8 o’clock in Vietnam time, the world gold price on Kitco was trading at $ 1,736 / ounce, down 9 USD compared to the previous closing session.

Gold prices have reversed to go down in the context of investors selling to take profits, although the value of the dollar continues to weaken compared to many other currencies.

Meanwhile, at an online discussion organized by the Economic Club of Washington Capital (USA), some economists warned that the size of government debt is soaring. However, Chairman of the US Federal Reserve (Fed) – Mr. Jerome Powell said this is not a problem to worry about and will resolve debts in the near future.

This information can make financial investors optimistic about the possibility of US economic recovery in the coming time. Accordingly, many people do not put capital into the gold market. Therefore, the price of gold is not strong enough to overcome the resistance level of 1,750 USD / ounce.

On the other hand, some investors are concerned that holding gold could be risky. They sold out strongly. Gold prices sometimes fall over 10 USD / ounce.

The price of gold turned down sharply

On the domestic market, DOJI Jewelry Group has listed SJC gold price at 54.90 million dong / tael (bought in) and 55.30 million dong / tael (sold out).

SJC gold price for retail transactions of Bao Tin Minh Chau Co., Ltd is listed at 54.91 million dong / tael (bought in) and 55.24 million dong / tael (sold out).

Saigon Jewelry Company, Hanoi branch currently listed SJC gold at 54.90 million dong / tael (bought in) and 55.32 million dong / tael (sold out).