Viewing back the price storm of gold market last week
Vietnam domestic gold market became the focus of attention this week, while gold prices have jumped higher and deeper calls unprecedented. Not only saw the price of gold goes down and up market also recorded the chaos of buying and selling gold on 11-12/11.
The gold is imported back to the braking brake the "randy" the gold price in the country, bring back the gold price in the same orbit with the price of gold in the world. Transactions in the market is sagging and the panic is no longer present.
Increasing weekend version of the international gold price has taken gold in the morning for the approximately 26.5 million per volume (buy in) and 27 percent in (sold out). So with the price of light through the application of gold prices in the country to the time of the morning hour was up more than 1 million per volume.
Although no increase heat and working brakes are not as steep for two days 11-12/11, domestic gold price yesterday and this morning will continue with the step increase and decrease relatively strong.
Specifically, the opening hours of the morning, gold has dropped more than 500,000 VND per volume compared with the afternoon before closing price, also 25.5 percent in (buy into), and 25.9 percent in ( sold out). However, when closing the afternoon, gold prices have feedback about the place was 25.8 percent in (buy into), and 26.3 percent in (sold out).
To this morning, mold cost 27 percent in continuing to appear again. This is the price of the landmark am on November 11, when the "Battle of hurricanes" price of gold started in the market.
At the time of 9 am this morning, trading in gold company Gold and Silver Phu Quy (PQJ) in Hanoi market is 26.4 percent in (buy into) and 27 percent in (sold ). At City Market, gold by the Company Jewelry Saigon (SJC) listed on the website of the company is 26.3 percent in (buy into), and 26.8 percent in ( sold out).
Sacombank systems nationwide at the same time the price of gold pieces to name SBJ at 26.1 percent in (buy into), and 26.8 percent in (sold out).
Thus, compared to a record 29.3 percent in the afternoon set on November 11, gold has now lost 2.5 million drop in investors' eyes.
Peak of the "storm" is the gold price this time of morning and afternoon of November 11, when gold prices rise 2.2 percent in the next four hours there. Only once in that time, the market gold price went through three milestone 27, 28 and 29 percent in, higher than the world price of gold is at a period of up to 3.6 percent in.
Yellow light on November 11 transactions took place suffocation, when people crowded in the store features a large needle to try to buy with the gold.
After the peak, gold prices started working from the slope pm November 11, you start with information about State Bank announced the decision to resume imports of gold operations. "Crashed" at a rate of dizziness, the morning of November 12, gold was "trim" lost 2.4 percent in from the peak set in the previous day, on par with world gold prices.
Psychological crowd continued dominant active trading physical gold, jewelery stores crowded big guests paintings sold. Purchase top, bottom sale, many people have dark hole in the gold price this storm.
However, from the afternoon of December 11 onwards, the market has gradually stabilize gold again.
With the fluctuating "invisible unprecedented" price of gold in the recent few days, the company jewelers this morning continue to apply the price difference to buy / sell high, from 500000-600000 investors' eyes. However, the difference was lower than the main record on a percent in the application on November 11.
During the physical gold market bleak recently, the price difference to buy / sell gold at only at 50,000 VND / volume.
Until this time, some business enterprises such as factoring gold-SBJ, DOJI, SJC ... said they had received gold quota imports from functional agencies.
However, Mr Ton The Vinh Quyen, Director of the factoring business-SBJ said, with the domestic gold price was on par with world gold prices, even lower than the time world gold prices, entering gold prices in the world today is not effective. "Therefore, we will use this quota is granted to make gold bought on international markets during the previous country," Mr Right said.
Well as his rights, the week, gold raw materials imported by factoring-SBJ will be on to Vietnam. Then, take an extra day to put material into yellow gold pieces. Thus, at least to mid next week, the domestic gold market will be new.
World spot gold price trading sessions last night at the New York market at 1119.5 per ounce, up 16.2 per oz (1.5%) compared with the closing price the previous version. This price was provided, plus taxes and charges, corresponding to approximately 25.8 million per volume, lower than the price of gold sold in the country about 1 million per volume.
This week, world gold prices have risen 2%, after rising 5% in the last week. After the "ignore" almost all evolutions of the world gold price during the week, gold prices in the country has increased about 1.2 percent in comparison with last week, equivalent increase (4.4% ). Particularly in the last week, gold prices have risen 8.2% in the country.
According to the business of gold, with gold in the water supply is no longer missing in the import and trading activities had returned to stabilize the price of gold in the coming time there will be more popular with the price of gold Monitoring world.
Far, the world gold price is still supported by the trend increase gold reserves of central banks and the sliding price of the dollar. Of USD trading sessions in New York last night at the 1.49 USD 1 Euro equivalent. This week, U.S. prices slipped about 0.3% compared to Euro.
Light sweet crude oil prices in New York December delivery ended the week trading low back within 1 month ago. Last night, oil prices down 0.59 per barrel, closing at 76.35 per barrel. Oil prices lower after a published report showed that consumer confidence in the U.S. in October was significantly reduced than expected.
