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Gold prices jumped to new record: 37.3 million

Domestic gold market "madness" is open now, the price jumped more than 1 million each of the world market set a new record $ 1,410 an ounce.

As of 8am today, gold was raised from 36.70 to 37 million SBJ contract amount. So late yesterday, each of gold sold 1.06 million is more expensive, also rose 1.16 million collected. However, half an hour later, gold prices have been pushed to SBJ 37.30 million contract amount, up by 300,000 compared to the previous.

Meanwhile, a jeweler in HCMC listed 36.30 million purchase price, but sales exceeded 37 million. Amplitude is now widely dilated up to 800,000 VND, is considered generally move every price fluctuations.

SJC own brand of gold, also increased sharply this morning, sold 1.05 million and 950,000 contract to buy the 36.65 to 36.85 million contract amount. The brand was normal to very low-distance trade, but before this unusual performance of gold prices, large amplitude also extended to 200,000 VND per tael.

Domestic gold price escalation before the rise of international gold. However, domestic prices increased faster than the world price. If you take USD 21,000 VND per tael world converted only about $ 35.80 million.

World gold prices set new heights.
World gold prices set new heights.

On the world market, pessimistic news from Europe that the gold price continued to rise impressively, to an unprecedented high of $ 1,410. Golden mold easily exceed $ 1,400 and set new peaks in the session yesterday. After opening at $ 1,394.10 and Tuesday, the market has adjusted reduction in Asia, Europe and poking their heads go up in the U.S. session, the script's repeated on Thursday and Friday last week.

After the mold easily exceed $ 1,400, gold future straight forward set a new record at USD 1,410.40. Spot price is also a new peak at $ 1,410.60, an increase of $ 16.5 compared to the open door. With this scale, the gold back to Vietnam after the import tax is equivalent to 35.9 million contract amount (not including transportation costs, processing).

This time, gold prices fell as the euro, after concerns about the repayment capacity of the countries of the common currency area. The dollar increase in gold price reduction that is depreciating euro makes gold go up."Nobody wants to hold more money," one analyst said.

Thus, despite the dollar index Index rising gold price escalation for staying. The greenback has risen about 0.63% to 77.03 points while the euro lost 0.7% (ie 1 EUR exchange was $ 1.39.) This shows that a key factor pushing up the price of gold today is due to increased power demand is too great. Investors sought to buy gold as a second property to ensure safety against the devaluation of the dollar and other currencies in the world.

Technically, the psychological resistance level of $ 1,400 an ounce has been broken quite easily. Many experts predict, after going through this resistance level, precious metals prices will maintain a good trend to the first quarter of 2011. Ability to touch the $ 1,500 is just the time factor.

Last week, the blue bill fell to its lowest level since December after Federal Reserve statement released $ 600 billion to support economic recovery.

Besides, gold has also benefited from China's greater investment in commodities. Recently, China has become a commodity exchange market in the world future.

Currently investors are heading towards the G20 meeting in Seoul in the hope the problem will be given monetary operations said.


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