The gold price today, April 19, on the world market continues to be anchored near 2,400 USD/ounce. Domestic gold price is at 84 million VND/tael.
Domestic gold price
Closing the session on April 18, the price of 9999 gold bars at SJC Ho Chi Minh City was 82.1 million VND/tael (buy) and 84.1 million VND/tael (sell).
DOJI Hanoi listed at 82 million VND/tael (buy) and 84 million VND/tael (sell). DOJI Ho Chi Minh City bought SJC gold at 82 million VND/tael, sold it at 84 million VND/tael.
International gold price
Gold price on Kitco (at 8:30 p.m., April 18, Vietnam time) is at 2,382 USD/ounce. June gold futures price closed at 2,398 USD/ounce.
Domestic gold prices are high. Photo: Chi Hieu
At the beginning of the trading session in the US, world gold prices continued to be anchored high, close to 2,400 USD/ounce.
Mr. Jerome Powell, Chairman of the US Federal Reserve (Fed), said the battle to control inflation seems to have stagnated. Central banks need to be more confident that inflation is on track to fall to its 2% target. Fed officials said the agency could maintain current interest rates for longer.
During the March meeting, Fed officials mentioned a roadmap to cut interest rates three times this year. But the timing of interest rate cuts is still an open question.
Investors predict that the first cuts could take place in September. Some people even bet that there will be no cuts this year. Currently, the market bets that the Fed has a 68% chance of cutting interest rates in September.
Retail sales rose more than expected in March, a sign of America’s economic recovery. The 10-year Treasury yield hit a five-month high on Tuesday.
Traders and investors are watching further developments in the Middle East. Market participants remain concerned about Israel’s response to Iran’s attacks.
Gold price forecast
According to the Wells Fargo Investment Institute, gold is likely to increase in price after reaching a record high this year.
Fundamental factors driving gold prices include aggressive central bank buying, growing demand from consumers in emerging markets, slow supply growth, and escalating geopolitical tensions.
Phillip Streible, market strategist at Blue Line Futures, said that geopolitical instability continues to support gold. If the situation becomes more and more tense, gold prices could approach 2,500 USD/ounce.
Deutsche Bank forecasts that gold price will rise to 2,600 USD/ounce by December 2025.