Gold price on December 4, 2021: Soaring over 61 million VND/tael

The domestic price of gold bars has increased again since the end of December 3 and continued this morning (December 4), surpassing 61 million dong. Specifically, the Saigon Jewelry Company - SJC listed the buying price as 60.2 million VND/tael and selling 61.05 million VND/tael.

Compared to the end of yesterday, each gold bar increased by 50,000 dong in the buying afternoon and 200,000 dong in the selling afternoon. This also pushed the difference between buying and selling prices to increase to 850,000 VND/tael compared to 700,000 VND/tael yesterday.

Morning gold price 4.12. Peach Ngoc Thach

World gold price closed at the end of the week at 1,783.5 USD/ounce, up 12 USD compared to yesterday. Precious metals rose as investors remained concerned about the rise of the Omicron virus strain. Besides, for the first time since September, the 10-year US government bond yield fell below 1.4%, reducing the opportunity cost of holding gold, supporting the precious metal's rally.

On the morning of December 3, the US Department of Labor announced that the number of non-farm jobs in November increased only 210,000 compared to the previous month, much lower than the 573,000 level forecast by Dow Jones economists.

However, the unemployment rate still fell from 4.6% to 4.2%, better than the Dow Jones estimate of 4.5%. This could accelerate the possibility that the leaders of the US Federal Reserve (Fed) will decide to speed up the reduction of the asset purchase program at their meeting at the end of the month, in response to the labor market. tightened and opened up the opportunity to raise interest rates earlier than planned.

According to Edward Moya, senior analyst at brokerage OANDA, gold has an advantage as investors seek a safe haven as the Fed accelerates tightening while both Delta and Omicron strains are growing. threaten short-term growth momentum.

But currently, gold has not been able to conquer the $1,800/ounce mark as the trading sentiment is still weak.

In that context, the US stock market turned down. All indexes on Wall Street closed in the red as Nasdaq dropped nearly 2% to 15,085.47 points; The S&P 500 fell 0.84% to 4,538.43 points and the Dow Jones lost 0.17% to 34,580.08 points.

The strong selling of stocks is attributed to the impact of negative US jobs data and fears around the Omicron virus strain.