Gold Retreated To Close To 1,700 Usd / Ounce

Gold price trading in the international market this morning continued to decline by 7 USD / ounce, to 1,734 USD / ounce in advance the pressure of USD and US bonds. Gold price on the next momentum and US bond yields increase, while investors are waiting for policy signals from the Speech of the US Federal Reserve (Fed) Jerome Powell. Conditioner before the National Assembly of Fed Chairman - Mr. Powell will take place at 10:00 am local time. Powell recently said that the Fed will act against inflation is not controlled if need

. The gold market is struggling with comments by US Finance Minister Janet Yellen when the US Treasury bond yield increases The highest level in every three months and US stocks declined. December gold contract on Comex has a loss of two numbers and traded at nearly 1,740 USD / ounce. The 10-year US bond rate has increased for the 4th consecutive session to the highest level More than three months, thereby reducing the attractiveness of gold because increasing the opportunity to own the precious metal
In the dollar, it also increased, causing gold to become more expensive for buyers in other foreign currencies. USD index index, measure the power of green coins compared to other counterpart coins in the currency basket, rising to 93.74 points this morning. Report analysis, the increase of bond yield yields The 10-year term of the US caused gold to plunge and precious metals in the momentum to decline to 1,730 USD / ounce and even back to 1,700 USD / ounce. However, the important issue was now the US debt ceiling. If the debt ceiling is not raised at the same time, the US will default, which can cause a financial crisis and weaken the dollar. It is imperative that the National Assembly must quickly resolve debt limits. The world's gold council is high in Singapore, Indonesia and Vietnam Mr. Huynh Trung Khanh also said that the gold market is waiting for the US Congress Regarding the issue of raising the US public debt ceiling or not on this 5th day. If Congress does not raise, the US government runs out of money, so it is necessary to close and even go bankrupt
Therefore, it should be approved by the National Assembly. If the US public debt problem is through gold, the ability to go down. Even down to the whole level of resisting 1,680 USD / ounce as decreased a few months ago, not only the technical threshold of 1,700 USD / ounce. In contrast, if the US government is hungry, gold will continue to rebound. In addition, the Denlta disease transformation is also quite complicated in the United States, so investors still come to a safe shelter. Gold and gold speculation funds in the world also detect "bottoms" to find opportunities to buy gold quant gold products. With the downward trend of world gold, domestic gold prices this morning also adjusted down 150,000 copper / tael. Saigon Jewelry Company - SJC buys 56.35 million dong / tael and sells 56.95 million dong / tael. However, converted at the exchange rate of Vietcombank, gold world every amount of gold SJC is higher than the world at a record level to 9.15 million dong / tael (excluding taxes, fees). But according to Mr. Khanh, this can only change and want to shorten the gold difference in the water And the world only has a unique method is the quota level for some gold enterprises imported with raw materials, exclusive gold pieces of SJC.song SBV still persevere the target of gold market control to combat the state of dollarization And gold should be difficult for re-importing raw gold. On September 29, the central exchange rate announced by the State Bank continued to increase by 10 dong compared to yesterday, to 23,155 VND / USD. While, USD price at banks is stable. Vietcombank remains the price of 22,640 VND / USD and sold 22,870 VND / USD.V.V

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