Domestic gold prices today
Domestic gold bar prices today are anchored at a high level. Gold bars of SJC, DOJI , PNJ, Bao Tin Minh Chau brands are all listed at 123.2 - 124.4 million VND/tael (buy - sell), unchanged compared to yesterday's trading session.
Phu Quy SJC bought in lower than 1 million VND/tael, with buying price 122.2 million VND/tael and selling price 124.4 million VND/tael, stable in both directions.
Domestic gold bar prices updated at 5:00 a.m. August 11 as follows:
Yellow | Area | Early morning 10-8 | Early morning of August 11 | Difference | ||||||
Buy | Sell | Buy | Sell | Buy | Sell | |||||
Unit of measurement: million VND/ounce | Unit of measurement: Thousand dong/ounce | |||||||||
DOJI | 123.2 | 124.4 | 123.2 | 124.4 | But | But | ||||
Ho Chi Minh City | 123.2 | 124.4 | 123.2 | 124.4 | But | But | ||||
SJC | Ho Chi Minh City | 123.2 | 124.4 | 123.2 | 124.4 | But | But | |||
Hanoi | 123.2 | 124.4 | 123.2 | 124.4 | But | But | ||||
Da Nang | 123.2 | 124.4 | 123.2 | 124.4 | But | But | ||||
PNJ | Ho Chi Minh City | 123.2 | 124.4 | 123.2 | 124.4 | But | But | |||
Hanoi | 123.2 | 124.4 | 123.2 | 124.4 | But | But | ||||
Bao Tin Minh Chau | Nationwide | 123.2 | 124.4 | 123.2 | 124.4 | But | But | |||
Phu Quy SJC | Nationwide | 122.2 | 124.4 | 122.2 | 124.4 | But | But | |||
Domestic gold ring prices today
Following the same trend as gold bars, the price of gold rings also remained unchanged today compared to yesterday.
Specifically, SJC is buying gold rings at 117.3 million VND/ounce and selling them at 119.8 million VND/ounce, remaining stable in both directions.
DOJI traded gold rings at 117.5 - 120 million VND/ounce, stable in both buying and selling prices compared to yesterday morning.
Bao Tin Minh Chau gold rings are currently trading at 117.8 - 120.8 million VND/ounce (buying price - selling price), stable in both directions compared to yesterday morning.
PNJ is buying gold rings at 117.5 million VND/ounce and selling them at 120 million VND/ounce, unchanged from yesterday morning.
Phu Quy also maintained the price of gold rings at 117-120 million VND/ounce compared to yesterday morning.
Today's world gold price
In the world gold market, the spot gold price today is at 3,402.1 USD/ounce. The world gold price generally increased by 0.05% in the past 24 hours.
With the domestic gold bar price anchored at a high level and the world gold price listed at Kitco at 3,402.1 USD/ounce (equivalent to about 108.64 million VND/tael converted according to Vietcombank exchange rate, excluding taxes and fees), the difference between the domestic and world gold prices is about 15.76 million VND/tael.
The gold market was volatile last week when rumors emerged on Thursday afternoon that the US would impose a 39% tariff on gold bars imported from Switzerland. The news immediately pushed spot gold prices above the resistance level of $3,400/ounce, although the White House later denied it.
Previously, the gold price opened the week at 3,360.52 USD/ounce, fluctuating between 3,345 - 3,396 USD/ounce many times when buying and selling power was in a tug-of-war. Notably, even when the tax news was rejected, the gold price only decreased slightly and then rebounded, maintaining around 3,400 USD until the end of the week.
The latest Kitco News weekly gold survey shows that industry experts have turned bullish, while retail investors remain bullish on gold's near-term outlook.
“I have been bullish for a long time and see no reason to change my view,” said James Stanley, senior market strategist at Forex.com. “The $3,435 level is notable as it has been tested three times in May, June and July without breaking down completely, showing that buyers remain strong.”
The bigger hurdle is at $3,500, which was tested in April, Stanley added. “I expect the next test to come after a steady uptrend, not a quick breakout, which could easily stall the rally,” Stanley said.
Aside from speculation about tax policy, US interest rates remain a big variable. Many experts believe that the US Federal Reserve (Fed) will almost certainly cut interest rates in September, possibly by as much as 0.5 percentage points. This usually benefits gold because it reduces the opportunity cost of holding the precious metal.
However, if the US dollar strengthens or geopolitical tensions ease, selling pressure may emerge. In addition, the fact that gold futures hit a new record but spot prices are still “stuck” in the $3,380-$3,450/ounce range suggests that the market is still waiting for a clear breakout signal.
A Kitco News survey found that 60% of Wall Street experts believe gold prices will continue to rise, with only 10% predicting a decline and the rest predicting a sideways trend. Meanwhile, 69% of Main Street individual investors also remain optimistic.
Source: https://baolangson.vn/gia-vang-hom-nay-11-8-vang-the-gioi-vuot-nguong-3-400-usd-ounce-5055699.html
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