Global Gold Prices Surge, Domestic Markets Experience Volatility
Gold prices are experiencing significant fluctuations globally and domestically, making it difficult to predict their trajectory. According to Vietnam.vn, domestic gold prices in Vietnam fell slightly compared to the previous day, but overall stabilized by the end of trading.
The current price of SJC gold bars at major retailers ranges from 141.1-144.1 million VND per ounce, while 99.99% pure gold rings are priced between 140.6-143.6 million VND per ounce.
Experts attribute the volatility in domestic gold prices to global market movements, the Fed's interest rate policy, and the strength of the US dollar. In the short term, alternating periods of increases and decreases may continue as the market is at a high price level and investor sentiment is cautious.
The world gold price has surged above $4,200, driven by rising safe-haven demand amid a slowdown in US labor market growth. However, if employment figures show strong growth, the likelihood of the Fed tightening monetary policy increases, putting downward pressure on gold prices.