Up to 8:20 am on February 27th, the domestic gold price listed by Doji Jewelry Gold and Silver Group was VND 46.12 million / tael (bought in) and VND 46.60 million / tael (sold). , up 50 thousand in the afternoon to sell.
Saigon Jewelry Company listed SJC gold price at VND 46.05 million / tael (bought in) and VND 46.87 million / tael (sold) in Hanoi. SJC gold price in HCMC listed at VND 46.85 million / tael.
The world price of gold listed on Kitco increased by USD 10.8, to USD 1,645.4 / ounce. Spot gold price listed at $ 1,646.4 / ounce.
According to analysts, the gold price is strongly supported by the spread of the Covid-19 epidemic, along with the move to further relax the monetary policies of a number of countries around the world.
Since the global financial crisis ended more than a decade ago, investors who have been most wary of a variety of risks have tended to lose money. Globally, asset prices have continued to rise despite events such as the eurozone debt crisis, the US ending quantitative easing packages or trade wars.
The rapid spread of corona virus outside of China and its impact on global economic activity has increased the prediction that the world central banks will loosen policy, with the US currency futures markets bet 100% on the possibility of interest rates falling by 0.25 percentage points at the end of June.
According to analysts, gold price can still reach 1,700 USD / ounce when there are mutant information related to COVID-19 epidemic.
According to a Reuters poll, the effects of the disease could spread outside of China because most of the major economies in the region are forecast to slow down significantly, move sideways or decrease in the first quarter of 2020. .
After the US stock market experienced the worst two sell-off sessions in the past two years, President Donald Trump and his close advisers have taken actions to reassure investors’ confidence and encourage them. Don’t panic, but take the opportunity to buy.
Speaking in Las Vegas last weekend, President Trump said the press only hoped the market plummeted because that would destroy his re-election efforts. At the election campaign in Phoenix in early February, he proudly talked about "144 times the stock market peaked, and that means your retirement account increased to 60, 70, 80, 90 or even 100%." .
In addition, the US 10-year bond yield fell to a record low of 1.307% amid potential impact on global growth from the Covid-19 epidemic . Therefore, many people think that the Fed may have to lower interest rates in the near future.
Investors are waiting for the US to loosen the monetary policy further of the US Federal Reserve (Fed) to support the economy.
World largest investment fund SPDR bought 6.15 tons of gold, the amount of gold held up to 940.09 tons of gold.
Opened on February 26 , the domestic gold price listed by Doji Jewelry was VND 46.05 million / tael (purchased) and 46.55 million / tael (sold). .
Saigon Jewelry Company listed SJC gold price at VND 46 million / tael (bought in) and VND 47.02 million / tael (sold) in Hanoi. SJC gold price in HCMC listed at VND 47 million / tael.
Thang Long Dragon Gold brand of Bao Tin Minh Chau as of the beginning of this morning increased VND 100,000 / tael compared to the end of yesterday, currently standing at VND 45.68 - 46.68 million per tael.
