Gold Price Sees Unexpected Comeback Amid Higher Core CPI
The gold price has seen an unexpected comeback in the market after the core consumer price index (CPI) in August increased higher than expected.
This increase led to a higher probability of the US Federal Reserve (Fed) raising interest rates, which had a significant impact on the gold price.
The total consumer price index (CPI) in August remained at 3.4% compared to the same period last year, while core CPI increased by 0.3% compared to the previous month, higher than the forecast increase of 0.2%
As a result, the gold price saw an increase in several markets, with Phu Quy Gold and Gems Group listing the price of gold rings at 142.4-145.8 million VND/tael (buying - selling), DOJI Group listing at 142.8-146.8 million VND/tael, and Bao Tin Minh Chau listing at 142.6-146.6 million VND/tael.