Down but still very high

Illustration: Phan Anh

Update SJC gold price

Domestic SJC gold price closed on August 21, 2024.

SJC gold price movements last month. Source: Rong Viet Online Services JSC VDOS

Price of round gold ring 9999

As of 6:00 p.m. today, the price of 9999 Hung Thinh Vuong round gold rings at DOJI is listed at 77.15-78.35 million VND/tael (buy - sell); an increase of 100,000 VND/tael for buying and an increase of 50,000 VND/tael compared to the close of the previous trading session.

Saigon Jewelry Company listed the price of gold rings at 77.1 - 78.4 million VND/tael (buy - sell); an increase of 50,000 VND/tael for both buying and selling compared to the close of the previous trading session.

Bao Tin Minh Chau listed the price of gold rings at 77.08-78.38 million VND/tael (buy - sell); an increase of 120,000 VND/tael for buying and an increase of 100,000 VND/tael for selling compared to the close of the previous trading session.

In recent sessions, the price of gold rings has often fluctuated in the same direction as the world market. Investors can refer to the world market and expert opinions before making an investment decision.

World gold price

As of 6:30 p.m., the world gold price listed on Kitco was at 2,509 USD/ounce, down 13.3 USD/ounce compared to the close of last week's trading session.

World gold price developments. Source: Kitco

Gold price forecast

World gold prices fell despite a slight decrease in the USD index. Recorded at 6:30 p.m. on August 21, the US Dollar Index, which measures the greenback's fluctuations against six major currencies, stood at 101.387 points (up 0.09%).

Spot gold has surged more than 20% this year and is on track for its biggest annual gain since 2020, according to Bloomberg. Forecasts for further gains could be a sign that investors expect the US Federal Reserve (FED) to cut its benchmark interest rate soon.

The market is currently paying attention to the FED's announcement of the minutes of its July 2024 policy meeting today, August 21, and the speech of FED Chairman Jerome Powell on the US economic outlook on August 23.

Investors still see gold as a safe haven in times of economic uncertainty and escalating geopolitical tensions.

Antonio Ernesto Di Giacomo, a senior market analyst at trading platform XS, said the recent rise in gold prices reflects increased uncertainty.

"Gold prices have risen above $2,500 an ounce - a record high - reflecting growing global economic uncertainty and investors continuing to seek safety. With economic, geopolitical and monetary factors driving this rise, gold is cementing its position as a safe haven in times of volatility," the expert said.

Agreeing with Antonio, Joseph Cavatoni, strategist at the World Gold Council, said geopolitical uncertainty, increased speculation and global ETF inflows were driving gold prices. Central banks led by China are also buying gold to reduce their dependence on the US dollar.

Source: https://laodong.vn/tien-te-dau-tu/cap-nhat-gia-vang-chot-phien-218-sut-giam-nhung-van-rat-cao-1382936.ldo