Today’s world gold price jumped from 2,310 USD to 2,332 USD/ounce at 6 a.m. on April 26.
US economic data points show that GDP estimates for the first quarter of 2024 increased by 1.6%, much lower than market expectations of a 2.4% increase. The core PCE inflation index increased by 3.7%, 0.3 percentage points higher than the forecast of 3.4%.
In response to this information, financial investors sold off stocks. As a result, in last night’s trading session, US and European stocks were in the red. Many people have transferred capital into precious metals to make profits. Gold price today have the motivation to increase.
On the other hand, the USD depreciated against most other currencies after the US economy grew at a very slow pace and inflation was hotter than expected. This is likely to prompt the US Federal Reserve (FED) to loosen interest rates by the end of 2024.
Faced with the above developments, speculators may expect gold prices to increase in the short term. From there, they increase their purchasing power. Today’s world gold price jumped from 2,310 USD to 2,332 USD/ounce at 6:00 a.m. on April 26.
In Vietnam, because there was only one participating unit, the State Bank canceled the gold bar auction on April 25. SJC gold price on this day increased by 500,000 VND/tael to 84.3 million VND/tael. Meanwhile, the price of gold rings dropped to 74.8 million VND/wage.
