Gold price reversed to increase, exceeding 124 million VND/tael

Gold bar prices rise

At the close of trading on August 13th, SJC gold bars were listed by businesses at 123-124.2 million VND/ounce (buy - sell), an increase of 300,000 VND in both directions compared to the previous day. The previous record price for this commodity was 124.4 million VND/ounce for the selling price.

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

Domestic gold prices have risen in line with global gold price movements. On the international market, today's gold price (Vietnam time) is trading around $3,356 per ounce, up $9 from the previous day. Converted using the exchange rate excluding taxes and fees, the world gold price is equivalent to approximately 107 million VND per tael. Compared to the beginning of the year, the price of the precious metal has increased by more than 28%.

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

Global gold prices edged higher amid continuing inflation in the US. According to the latest report from the US Bureau of Labor Statistics (BLS), the consumer price index (CPI) rose 0.2% in July, following a 0.3% increase in June, in line with economists ' forecasts. However, annual core inflation reached 3.1%, higher than the expected 3.0%, indicating persistent price pressures in the economy.

Some economists warn that the annual increase in core inflation is a negative signal for consumption. This suggests that higher prices are gradually taking root in the economy, particularly in areas such as healthcare , airfare, entertainment, furniture, and used cars and trucks.

Larry Tentarelli, an analyst at Blue Chip Daily Trend Report, a financial market trend provider, believes that inflation remains high, putting the 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 undermines the Fed's independence could send gold prices soaring.

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

The central exchange rate increased.

The USD Index – a measure of the USD's strength against six major currencies (EUR, JPY, GBP, CAD, SEK, CHF) – has reversed course and is now trading around 97.78 points, down 0.32% from its previous level.

The State Bank of Vietnam announced the central exchange rate at 25,247 VND at the close of trading yesterday, an increase of 4 VND compared to the previous day. With a 5% margin compared to the central exchange rate, commercial banks are allowed to buy and sell USD within 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 private commercial banks, the exchange rate for the US dollar was listed at 26,070-26,440 VND/USD (buy - sell), an increase of 10 VND in both directions.

On the market, foreign exchange bureaus are accepting USD transactions at 26,450-26,505 VND (buy - sell), an increase of 20 VND in the buying rate and 5 VND in the selling rate compared to before.

Dantri.com.vn

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