1- Comments on the fluctuations of
the gold price in HCM city in the past week 02
2- The causes of the gold price changing 03
3- Forecasts about the change
of the gold price in the future 04
Gold is a such special goods that any changes of its price affect not only the economy of HCM city but also the economy of Vietnam in general.
Recently, gold market in HCM city has had so many powerful fluctuations, specially in the past week (from March.17th 2008 to March.23rd 2008). Therefore, we only emphasize on finding out and analysing about the fluctuations of the gold price in the past week in this essays. Besides, we also analyse some forecasts about the changes of the gold price in the near future.
1 - Comments on the fluctuations of the gold price in HCM city in the past week:
The fluctuations of the gold price in the past week have made investors cautious about their investment, specially, when Federal Reserve System (FED) declared the basic interest rate of USD down at 2.25% in March.18th 2008.
Actually, some previous investor’s forecasts of FED about the decrease of the USD value and the increase of the gold and crude oil price have not come true.
The chart of the gold price in HCM city and in the world in March.
These above charts show: After increasing continuously in a long time and getting top (1,033.9 USD/ounce) in March.17th 2008, the gold price in HCM city and in the world decreased heavily several times (from March.18th 2008). The USD value increased in comparison with other common currencies. Consequently, the gold and the crude oil price decreased, while the gold price decreased heavily.
In a week, the gold price decreased from over 1000 USD per ounce on March.17th 2008 down to 915.1 USD per ounce on March.20th 2008 , a unusual low price up to now (decrease over 100 USD per ounce).
Consequently, the gold price in HCM city also decreased heavily, from...