Gold price in Asia slightly increased in the followingnoon session of January 30, while investors waited for signals from major central banks and the US Federal Reserve (Fed).
Spot gold price rose 0.2 percent to $1,931.07 per ounce at 14:17 (Vietnam time). US gold futures delivery rose 0.1% to $1,930.50 an ounce.
Experts say that the main focus will be on the decision of the Fed in the upcoming meeting.
Traders are now closely watching the policy meeting Fed, scheduled to take place from January 31 to February 1. Most markets expect the Fed to shrink interest rate hike from 50 basis points, announced in December 2022, to 25 basis points. Gold prices often “benefit” when interest rates are low.
[Giá vàng châu Á chạm mức cao nhất của 9 tháng trong phiên 26/1]
European Central Bank (ECB) and the Bank of England (BoE) will also have policy meetings this week.
According to technical analyst Wang Tao of Archyde.com news agency (UK), spot gold price might break the support level of $1,919 per ounce and range from $1,883 to $1,905 an ounce.
And Clifford Bennett, lead economist at ACY Securities, said that as the Chinese economy continues to open up, the demand for gold will increase stronger.
In Vietnam, at the end of the trading session on the followingnoon of January 30, the price of SJC gold in Hanoi market was listed by Saigon Jewelry Company at 66.40 million dong-67.42 million dong/tael (buying). in-sell).
Van Anh (VNA/Vietnam+)
