Today: 23/03/2023 21:06:10 (GMT+7)

Gold prices surge as Fed signals slower rate hikes

Gold prices rose as soon as the U.S. Federal Reserve announced that it may slow the pace of interest rate hikes in the future.

The price of SJC branded gold bars surged VND100,000 ($4.04) from the previous day to VND67.6 million per tael. A tael is equal to 37.5 grams or 1.2 ounces.

Gold prices, surge, slower rate, SJC, branded gold bars, selling price,  world average

Marked ingots of 99.99 percent pure gold are placed in a cart at the Krastsvetmet non-ferrous metals plant in the Siberian city of Krasnoyarsk, Russia March 10, 2022.

The selling price of gold rings also increased by VND200,000 to VND54.1 million per tael.

SJC gold prices are typically higher than the world average by some VND15.5 million per tael.

The minutes of the Fed’s Nov. 1-2 meeting showed that a "substantial majority" of Fed policymakers agreed it would "likely soon be appropriate" to slow the pace of interest rate hikes, according to Reuters.

Fed fund futures are now pricing in an 85% chance of 50-basis point (bps) increase in the December meeting, after four straight 75 bps hikes.

Globally, gold prices bounced above the key $1,750 an ounce level on Thursday, consolidating gains after minutes of the U.S. Federal Reserve’s latest meeting signalled slower interest rate hikes.

Spot gold rose 0.4% to $1,755.73 per ounce by 0321 GMT. U.S. gold futures advanced 0.6% to $1,755.90.

Crystal Martin Vietnam honored as outstanding business for labour
(BGO) – The Vietnam General Confederation of Labour has cooperated with the Ministry of Labour, Invalids and Social Affairs, Vietnam Chamber of Commerce and Industry to honor 62 “Outstanding business for the labour in 2022” in Hanoi, including Crystal Martin Vietnam Company Limited in Quang Chau industrial park, Viet Yen district (Bac Giang province).
150 businesses to join survey and talkshow about tourism introduction
(BGO) – The Department of Culture, Sports and Tourism (DCST) in Bac Giang province has cooperated with Luc Ngan district People’s Committee to organize survey and talkshow to introduce tourism product from November 24 – 27, 2022 within the framework of “Sweet fruit season tour” launched by the DCST.
HCMC businesses need 43,000 workers
The HCMC Department of Labor said businesses need to hire 43,000 workers to achieve year-end production targets.
Bac Giang holds dialogues with businesses to improve DDCI
(BGO) - The improvement of the District and Department Competitiveness Index (DDCI) is an important solution to create an open investment and business environment, contributing to improving the Provincial Competitiveness Index. Being well aware of that, departments, agencies and localities in Bac Giang province have actively implemented solutions to improve this index, with priority given to holding direct dialogues with businesses to solve their difficulties, thus winning their satisfaction.
Bac Giang becomes destination for top leading businesses worldwide
(BGO) – With proper policy and drastic action, Bac Giang has achieved a lot of results in socio-economic development. From a bottom rank locality, now the province enters the top leading provinces and cities in economic growth rate and industrial development with proud and prominent targets.

Source: VnExpress

Gold prices, surge, slower rate, SJC, branded gold bars, selling price, world average
New comment has just been added. Click here
Sort:NewBest News