Gold Prices Continue Volatile Trend Amid Fed Rate Hike Expectations
The gold price continued to fluctuate in the early hours of September 8th. SJC gold bars were listed at 143.5-146.5 million VND/tael, a decrease of 1.1 million VND/tael from yesterday's prices. This is consistent across multiple business units, including Phu Quy and DOJI.
The buying-selling difference remains at 3 million VND/tael. Gold ring prices also saw a decline, with Phu Quy listing them at 143.5-146.8 million VND/tael, down by 500,000 VND/tael in both buying and selling directions.
The world gold price has fallen to around 4,416.8 USD/ounce, down 12.5 USD from the previous day's close. This drop is attributed to better-than-expected US jobs data, which has strengthened expectations of a US Federal Reserve interest rate hike.
Gold prices have been fluctuating above and below the 4,400 USD/ounce threshold due to market anticipation of a change in Fed policy. The probability of a rate hike at the September 15-16 meeting is around 60%.