Domestic gold prices rise slightly after Fed’s rate hike
The domestic gold market did not show much fluctuations on June 15 after the Fed raised its prime rates, with gold prices moving around the mark VND36 million VND (US$1,586.5) a tael (37.5 grammes).
At 9am, major gold trader Doji group listed the buying price for SJC 24k gold bars at VND36.34 million a tael and the selling price at VND36.42 million a tael, up VND50,000 (US$2.2) a tael compared to late June 14.
At the same time, the prices for SJC gold bars at Bao Tin-Minh Chau Company were VND36.35 million (buying) and VND36.41 million (selling) per tael, both up VND20,000 (US$0.88) from the closing prices on the previous day.
Meanwhile, gold prices on the New York market dropped after the Fed’s move on June 14 while the greenback gained compared to other key currencies.Also at 9am on June 15 (Hanoi time), the world gold price was at US$1,265.6 per ounce.
At the June 15 exchange rate of Vietcombank, the domestic price for one tael of gold is VND2.5 million (around US$110.17) higher than the world price, excluding tax and other fees