While the weaker inflation report probably won't change things at the March meeting, according to OANDA senior market analyst Craig Erlam, it could at least trigger a debate. There is more serious discussion within the Fed about the timing of the first cut, and that could be positive for gold.
Despite gold's decline, FXTM senior research analyst Lukman Otunuga said the precious metal is receiving support from dollar weakness and tensions in the Middle East. Last week, the US Dollar Index recorded its first weekly decline in a long time. The price of gold bullion, used as a safe investment in times of uncertainty, has increased more than 10% since the conflict in the Middle East began in early October.
With the domestic gold price increasing sharply and the world gold price listed at Kitco at 2,030.8 USD/ounce (equivalent to nearly 60.8 million VND/tael if converted according to Vietcombank exchange rate, excluding taxes and fees), the difference The difference between domestic and world gold prices is about 18 million VND.