Gold prices skyrocket after the Fed does not raise interest rates

Gold prices on September 22 skyrocketed after the US Federal Reserve (FED) decided to keep interest rates unchanged.

Specifically, at 8:15 am on September 22, according to the listing of Saigon Jewelry Company, the buying and selling price of SJC gold bars in Ho Chi Minh City is currently at 36.14 - 36.40 million VND/tael, an increase of 160,000 VND/tael compared to the closing price yesterday. The difference between buying and selling prices is 260,000 VND/tael.

Domestic and world gold prices both skyrocketed after the FED decided not to raise interest rates yet (Illustration: Internet)

At the same time, in Hanoi, DOJI Group listed the price of SJC gold at 36.28 - 36.35 million VND/tael (buy - sell). Compared to the previous session, the gold price was adjusted up 160,000 VND/tael in both buying and selling directions. The difference in selling price is only 70,000 VND/tael higher than the buying price.

In the world market, gold prices today turned to increase sharply after the US Federal Reserve (FED) announced that it will continue to maintain record low interest rates.

Closing last night on the Comex New York floor, spot gold price increased by more than 20 USD, from the previous level of 1,314 USD/ounce.

Gold price for December delivery on the Comex New York floor increased by 20.8 USD to 1,338.7 USD/ounce.

Currently, the price of gold is 25.6% higher (+271 USD/ounce) than at the beginning of the year. The converted world gold price is currently 36.1 million VND/tael, excluding taxes and fees.

According to VOV