Gold prices continued to decline due to selling pressure, following the US inflation report on Tuesday. Currently, gold price is trading around 1,993 USD/ounce.
Gold price today February 15: Despite the plunge in gold, there are still experts who are optimistic about gold prices
Gold prices continued to decline due to selling pressure, following the US inflation report on Tuesday. Data showing that US inflation has not yet cooled has ended hopes that the Federal Reserve would cut interest rates this spring. Gold price at 7am this morning (Vietnam time) is at 1,993 USD/ounce, up 0.07% compared to the same survey time yesterday morning.
Evolution of world gold prices. Source: Tradingeconomics
After the inflation report, traders reduced their forecast for the number of 25 basis point rate cuts in 2024 from four to three and suggested that the US Central Bank would likely wait until June before make a decision to cut interest rates.
The next US inflation report comes with Friday’s producer price index report for January, which is forecast to have risen 0.1% from December, compared with a 0.1% monthly decline. in the December PPI report.
However, Chantelle Schieven, head of research at Capitalight Research, said that despite optimism, the US is still not immune to recession and the longer the Federal Reserve maintains its grip on the economy, the worse the relationship will be. the greater the threat. Schieven said it was only a matter of time before the Federal Reserve abandoned its inflation target and cut interest rates to support the economy. This change in monetary policy will spur new investment demand for gold, pushing prices significantly higher, she added. As momentum increases, Schieven predicts gold will peak at $2,400 an ounce this year with an average price of $2,170 an ounce. Schieven is the most optimistic gold analyst in the London Bullion Market’s 2024 price outlook survey.
Key outside markets today saw the US dollar index slightly weaker after hitting a three-month high on Tuesday. The yield on the benchmark 10-year US Treasury note is currently at 4.291%.
Today’s US data includes the weekly MBA mortgage applications survey and weekly DOE liquid energy stocks report.
Gold price today February 15: SJC gold is still close to the threshold of 79 million VND/tael
This morning, gold prices for brands were still anchored at nearly 79 million VND/tael. Currently, gold bar prices for brands are listed specifically as follows:
SJC gold price in Hanoi and Da Nang area is listed at 76.7 million VND/tael purchased and 78.92 million VND/tael sold. In Ho Chi Minh City, SJC gold is still buying at the same level as in Hanoi and Da Nang areas but selling is 20,000 VND lower.
DOJI listed the price of SJC gold bars at 76.55 million VND/tael purchased and 78.85 million VND/tael sold.
SJC gold bar price was listed by Phu Quy at 76.65 million VND/tael purchased and 78.9 million VND/tael sold.
Meanwhile, SJC gold bars are being bought by PNJ brand at 76.7 million VND/tael and sold at 78.9 million VND/tael.
The buying price and selling price of SJC gold of Bao Tin Minh Chau brand are 76.75 million VND/tael and 78.85 million VND/tael, respectively.
Domestic SJC gold price developments. Source: giavang.org
Unit: x1000 VND/tael
| Area | System | Buy into | Sold out |
|---|---|---|---|
| City. Ho Chi Minh | SJC | 76.700 | 78.900 |
| PNJ | 72.500 | 75.200 | |
| Mi Hong | 76.300 | 77.300 | |
| Hanoi | SJC | 76.700 | 78.920 |
| PNJ | 72.500 | 75.200 | |
| Bao Tin Minh Chau | 76.550 | 78.650 | |
| wealth | 74.050 | 76.500 | |
| Danang | SJC | 76.700 | 78.920 |
| PNJ | 72.500 | 75.200 | |
| Nha Trang | SJC | 76.700 | 78.920 |
| Ca Mau | SJC | 76.700 | 78.920 |
| Hue | SJC | 76.670 | 78.920 |
| Bien Hoa | SJC | 76.700 | 78.900 |
| West | SJC | 76.700 | 78.900 |
| Quang Ngai | SJC | 76.700 | 78.900 |
| Bac Lieu | SJC | 76.700 | 78.920 |
| Ha Long | SJC | 76.680 | 78.920 |
| West | PNJ | 72.100 | 75.100 |
| Ben tre | Mi Hong | 76.300 | 77.300 |
| Tien Giang | Mi Hong | 76.300 | 77.300 |
| Updated at 07:50:22 February 15, 2024 | |||