Gold prices on Tuesday diminished at a four-week low following the Federal Reserve's decision and political developments in the United States.
Gold futures for the December delivery in the Comex division of the New York Mercantile Exchange fell 1.3 percent, to $ 1,208.6 an ounce. End of the weekend session at $ 1,207.30, the lowest level in four weeks.
Gold ranged from $ 1,220 to $ 1,240 per ounce, in view of the political uncertainty in the United States. After that, the Fed's decision made the rise in foreign exchange rates so that gold prices continue to decline.
At its first meeting since the strongest trading session on the US stock market last month and mid-term mid-term elections this week, the Fed has decided to keep interest rates unchanged. The base interest rate is 2-2.2%.
This is the highest interest rate that has been set by the world's strongest bank since it hit the global financial crisis a decade ago.
Earlier, US economists predicted that the Federal Reserve would not raise interest rates at the aforementioned meeting, amid the midterm elections in the US. The Democrats gain control of the US House of Representatives, which will make possible the future development of President Obama's economic policy.
Gold fell more than 10 percent from the peak recorded in April as investors favored the dollar as the US-China trade war broke out amid mounting US interest rates.
Golden price in the domestic market yesterday, DOJI Jewelry Group listed at 36.38 million / buy (buy) and 36.47 million / sale (sale).
In the SJC, the price of gold bought in the afternoon was 36.35 million per volume; in the afternoon the price was 36.53 million per volume. In the city of Ho Chi Minh, the sales price amounted to 36.51 million VND / tael.
According to VietNamNet