Record high gold bar selling price approaching 125 million VND/tael

(Dan Tri) - The selling price of gold bars reached 124.7 million VND/tael, the highest level ever. Meanwhile, the price of gold rings turned to decrease slightly by 300,000 VND/tael.

At the end of the trading session on August 14, the price of SJC gold bars was listed by businesses at 123.7-124.7 million VND/tael (buy - sell), an increase of 700,000 VND for buying and 500,000 VND for selling compared to the previous session. The level of 124.7 million VND/tael for selling is a new record price for this item.

The price of gold rings is listed at 116.8-119.3 million VND/tael (buy - sell), down 300,000 VND in both buying and selling.

In the international market, today's gold price (Vietnam time) is trading around 3,334 USD/ounce, down 23 USD compared to the previous one. Converted according to the exchange rate excluding taxes and fees, the world gold price is equivalent to 106.3 million VND/tael.

Record high gold bar price (Photo: Manh Quan).

Gold prices fell after the US announced that the producer price index (PPI) rose 0.9% in July, far exceeding expectations and indicating that inflationary pressures remained strong. This development contradicted previous expectations that inflation would cool this year, as production costs increased sharply.

The Labor Department said the headline PPI rose 0.9% in July from the previous month. That was more than four times the forecast of 0.2%. On a yearly basis, the PPI rose 3.3%.

This information has triggered selling pressure in the gold market, as investors are concerned that the US Federal Reserve (Fed) will find it difficult to accelerate its interest rate cut roadmap in the second half of the year.

Mohammed Taha, a financial market analyst at MH Markets, said the data reflected persistent inflationary pressures, which could weigh on gold as high interest rates could persist. However, if inflation remains high, gold will still be supported as a long-term hedge.

Conversely, if the risk of recession increases and forces the Fed to loosen, gold could quickly recover to the $3,450-3,500/ounce range, the expert said.

Some experts also warn that the US economy could face the risk of “stagflation” - when prices rise but growth slows, this would be a favorable environment for gold because real interest rates could fall sharply.

Central rate cools down

The USD Index - a measure of the strength of the USD against six major currencies (EUR, JPY, GBP, CAD, SEK, CHF) has fallen after increasing continuously in recent sessions. Currently, this index fluctuates around 98.04 points, down 0.06% compared to before.

The State Bank announced the central exchange rate at 25,240 VND yesterday, down 7 VND compared to the previous session. With a 5% margin compared to the central exchange rate, commercial banks are allowed to buy and sell USD in the range of 23,977-26,502 VND.

Major banks listed the exchange rate at 26,050-26,440 VND (buying - selling), down 10 VND in both directions compared to before. At the group of private commercial banks, units listed the greenback trading price at 26,070-26,450 VND/USD (buying - selling), up 10 VND in the buying direction and up 20 VND in the selling direction.

In the market, foreign exchange points accept USD transactions at 26,420-26,480 VND (buy - sell), down 20 VND for buying and up 30 VND for selling compared to before.

Source: https://dantri.com.vn/kinh-doanh/gia-ban-vang-mieng-cao-ky-luc-ap-sat-125-trieu-dongluong-20250815065504312.htm