News · VnExpress

Gold prices reverse, rising by 1 million VND

Domestic gold bar prices rose by 1 million VND to 140-143 million VND per lượng (tael) on the morning of 28/10, following a recovery in global gold. Spot gold rebounded to USD 4,050-4,060 per ounce after trading below USD 4,000 earlier in the week; converted at Vietcombank's selling rate, domestic gold bars were about 16 million VND per lượng higher than the global price. Fed officials signaled no further rate hikes at this week's meeting, but CME FedWatch shows markets pricing an 83% chance of a Fed hike in December. A Reuters poll of 30 analysts cut the median full-year gold forecast to USD 4,495 per ounce from USD 4,509 three months earlier, the second straight quarter of downgrades. Analysts expect gold to recover next year as dependence on the US dollar declines.

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Original headline: Giá vàng đảo chiều tăng 1 triệu đồng

Read the original on VnExpress ↗

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