Early morning, March 1, SJC’s 9999 gold price increased by 100 thousand VND/tael in both buying and selling directions compared to yesterday’s session, reaching 79.6 million VND/tael (sold).
The 9999 gold price was updated by Saigon Jewelry Company Limited (SJC) at 8:26 a.m. and the 9999 gold price was listed by DOJI Jewelry Group at 8:42 a.m. as follows:
Buy intoSold outSJC Hanoi77,600,000 VND/tael79,620,000 VND/taelSJC Ho Chi Minh City77,600,000 VND/tael79,600,000 VND/taelSJC Da Nang77,600,000 VND/tael79,620,000 VND/taelDOJI Hanoi77,550,000 VND/tael79 .550,000 VND/taelDOJI Ho Chi Minh City77,550,000 VND/tael79,550,000 VND/tael
SJC and DOJI gold price list updated in the early morning of March 1
Closing session on February 29, Gold bar price 9999 at SJC Ho Chi Minh City is 77.5 million VND/tael (buy) and 79.5 million VND/tael (sell). SJC Hanoi listed at 77.5 million VND/tael (buy) and 79.52 million VND/tael (sell).
DOJI Hanoi listed at 77.45 million VND/tael (buy) and 79.45 million VND/tael (sell). DOJI Ho Chi Minh City bought SJC gold at 77.45 million VND/tael, sold it at 79.45 million VND/tael.
Central exchange rate on March 1, 2024 announced by the State Bank at 24,002 VND/USD, unchanged from the previous trading session. The USD price at commercial banks this morning (March 1) was listed at 24,450 VND/USD (buy) and 24,820 VND/USD (sell).
International gold price today March 1, 2024
At 8:37 a.m. today (March 1, Vietnam time), World gold spot price stood around 2,043.7 USD/ounce, down 3.3 USD/ounce compared to last night. Gold futures price for April 2024 on the Comex New York floor is at 2,052.1 USD/ounce.
The gold price on Kitco at 9:00 p.m. on February 29 (Vietnam time) was trading at 2,047 USD/ounce. Gold futures price for delivery in April 2024 on the Comex New York floor is trading at 2,048.7 USD/ounce.
World gold prices at the beginning of the trading session on February 29 (US time) increased sharply, approaching the important level of 2,050 USD/ounce after the US announced that the consumer price index in February increased by 0.4%.
World gold prices increased sharply after the US announced the consumer price index for February. Photo: Kitco
According to some economists, the newly released inflation data will not change much expectations about the US Federal Reserve’s (Fed) monetary policy. Markets have predicted that the Fed’s interest rate cut in March is unlikely, and it is likely that monetary policy will change in the second half of 2024.
Some Fed officials also warn that persistent inflation will prevent the Fed from lowering interest rates in early 2024. Additionally, the US economy is still expected to outpace other developed economies in the world. world, giving the Fed enough basis to maintain higher interest rates for a longer period of time.
Gold price forecast
According to the CME FedWatch tool, the gold market sees a more than 60% chance that the Fed will cut interest rates in June.
Saxo Bank commodity strategist Ole Hansen believes gold prices will rise to $2,300/ounce this year.
According to analysts at HSBC Bank, geopolitical instability in the Middle East is still an important driving force for gold to accelerate.
The growing climate crisis also has a positive impact on precious metals as it adds to geopolitical instability, the bankers added.
