Gold prices in the morning of December 11. simultaneously went up in the world after US inflation increased.
In the morning of December 11, the domestic price of gold bars at Saigon Jewelry Company - SJC was bought at 60.65 million dong/tael and sold at 61.45 million dong/tael. Compared to yesterday, SJC increased by 100,000 VND/tael in the buying side and 200,000 VND in the selling side. The difference between the buying and selling prices of SJC increased by 100,000 VND, to 800,000 VND/tael.
Gold price increased at the end of week 11.12. Independence
Gold price ended the week at 1,783.6 USD/ounce, up 5 USD compared to yesterday. Precious metals increased slightly at the end of the week but still recorded 4 consecutive weeks of decline. Late on December 10, the US Department of Labor announced that November inflation jumped 6.8% year-on-year to the highest level since 1982.
This inflation figure was slightly higher than forecast 6, 7% from Dow Jones. The consumer price index CPI, which measures the cost of a basket of goods, rose 0.8% in November. The core CPI (which excludes food and energy prices) rose 0.5%. in November and jumped 4.9% year-on-year, matching forecasts.
Gold prices have fallen 0.4 percent so far this week as investors fear higher inflation and a tightening labor market could prompt the Federal Reserve to accelerate the pace of reduction in asset purchases. its property. The easing of stimulus measures and raising interest rates tend to boost US Treasury yields, increasing the opportunity cost of gold, which doesn't yield.
The Fed is closely monitoring inflation and employment figures, among other indicators, to determine the timing for the first rate hike after the pandemic. The US central bank has kept interest rates unchanged at 0-0.25% since the outbreak of the Covid-19 pandemic. With inflation high, the Fed is expected to accelerate the tapering of its support at its December meeting and allow a rate hike in the second quarter of 2022.
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