After a decline, gold prices today increased sharply to nearly 1,200 USD, ending at the highest level since June 2015.

In the trading session on February 8, the world gold price went down, in the context of the USD strengthening after a positive report on the US labor market. However, the gold price on February 9, 2016 for April delivery on the Comex floor unexpectedly increased by 40.2 USD, equivalent to 3.5% and reached 1,197.90 USD/ounce.

Meanwhile, the gold price on Kitco floor at 6:30 this morning (Vietnam time) is maintaining the level of 1,192.70 USD/ounce.

Specifically, at Saigon Jewelry Company, today's gold price is listed at 33.08 - 33.38 million VND/tael (buy - sell) in Ho Chi Minh City and 33.08 - 33.40 million VND/tael (buy - sell) in Hanoi.

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According to analysts, gold has benefited greatly from safe-haven flows, as concerns about the US economy and the global economy will hold back the market. Weaker-than-expected global growth has pushed the US Federal Reserve (FED) back on the sidelines and not raised interest rates at all in 2016. Increasing expectations that the FED will not raise interest rates have pushed the US dollar lower, supporting gold.

In the foreign exchange market, the USD price this morning at Vietcombank is listed at 21,315 - 21,365 VND/USD (buy - sell).

In other precious metals on the Comex, March silver rose 64.8 cents, or 4.4%, to $15.426 an ounce. April copper fell 1.3 cents, or 0.6%, to $2.091 a pound. April platinum rose $25, or 2.8%, to $928.70 an ounce. March palladium also rose $19.40, or 3.9%, to $518.10 an ounce.

According to Knowledge