Gold price lags behind Listed Date: 10/09/2009
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* The world spot gold price yesterday did not keep the upward momentum, causing the national gold price to slightly decrease in the morning. Ending the trading day with the decrease of 0.7 USD/oz to close at 941.8 USD / oz. Earlier, in New York market, the gold price varied from 936.6 to 944.1 USD / oz. In the Asian market, on the morning of August 21, the spot gold prices continued to decline to just over 940 USD per oz. According to the analysts, the factors causing the devaluation for the gold price such as growing dollar, low inflation, sales of gold speculators... have still been dominant. The concern that the global stock market may step into a period of adjustment to go down after the “hot” increase in the past time has also led to a possibility that investment funds have to sell gold to compensate for the loss of share lists. However, in the recent sessions, these pressures have been temporarily hindered due to the recovery of crude oil prices, the U.S. stock market going up and the large gold investment funds having leveled off. * The exchange rate of USD last night went down by 0.2% compared to Euro, but still remained above 1.42 USD equivalent to 1 Euro because there is not much American important economic information publicized.
* The crude oil price increased on the third consecutive sessions due to the increase in the share prices at Wall Street. Ending the session at New York, the light sweet crude oil prices delivered in September has increased by 0.12 USD per barrel, up to 72.54 USD per barrel, meanwhile finished the transaction time. The light sweet crude oil prices delivered in October decreased by 0.92 USD per barrel (1.3%) to close at 72.91 USD per barrel. At 10:40 Am (Vietnam time), the light sweet oil prices delivered in October in New York has decreased by 0.27 USD per barrel to close at 72.64 USD per barrel.
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