Gold price reverses to increase, surpassing 124 million VND/tael

Gold bar price increased

At the end of the trading session on August 13, the price of SJC gold bars was listed by businesses at 123-124.2 million VND/tael (buy - sell), an increase of 300,000 VND each way compared to the previous one. The previous record price of this item was 124.4 million VND/tael for selling.

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

Domestic gold prices increased in line with the world gold price. In the international market, today's gold price (Vietnam time) is trading around 3,356 USD/ounce, up 9 USD compared to the previous one. Converted at the exchange rate excluding taxes and fees, the world gold price is equivalent to 107 million VND/tael. Compared to the price from the beginning of the year, the world precious metal price has increased by more than 28%.

Domestic gold prices increased simultaneously (Photo: Manh Quan).

World gold prices rose slightly as inflation in the US continued to “heat up”. According to the latest report from the US Bureau of Labor Statistics (BLS), the consumer price index (CPI) increased by 0.2% in July, after increasing by 0.3% in June, in line with economists ’ forecasts. However, the annual core inflation reached 3.1%, higher than the expected 3.0%, showing that price pressures are still persistent in the economy.

Some economists warn that the annual increase in core inflation is a negative signal for consumers. It suggests that higher prices are slowly eating into the economy, especially in areas such as health care, airfares, entertainment, furniture, and used cars and trucks.

Larry Tentarelli, an analyst at the Blue Chip Daily Trend Report, a financial market trends provider, said inflation remains high, putting the US Federal Reserve (Fed) in a difficult position. Tensions between President Donald Trump and the Fed over interest rate policy are shaking investor confidence. Any move that affects the Fed's independence could send gold prices soaring.

The disagreement between President Donald Trump and the Fed over whether to maintain or cut interest rates has added to the market uncertainty. Analysts warn that if the Fed’s independence is threatened, confidence in the US dollar could decline, which would further benefit the gold market.

Central rate increased

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 97.78 points, down 0.32% compared to before.

The State Bank announced the central exchange rate at 25,247 VND yesterday, up 4 VND from 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 23,984-26,509 VND.

Major banks listed the exchange rate at 26,060-26,450 VND (buy - sell), unchanged from before. At the group of private commercial banks, units listed the greenback trading price at 26,070-26,440 VND/USD (buy - sell), up 10 VND in both directions.

In the market, foreign exchange points accept USD transactions at 26,450-26,505 VND (buy - sell), an increase of 20 VND for buying and 5 VND for selling compared to before.

Dantri.com.vn

Source: https://dantri.com.vn/kinh-doanh/gia-vang-dao-chieu-tang-vuot-124-trieu-dongluong-20250814001829917.htm