Gold price today August 14: Soaring to a new record

On the morning of August 14, the price of gold bars at Saigon Jewelry Company - SJC was bought at 123.5 million VND/tael, sold at 124.7 million VND, an increase of 500,000 VND compared to yesterday. The selling price of gold bars at many companies is also the same as SJC. This is a new record high price for SJC gold bars. The difference between buying and selling gold bars remains at 1.2 million VND/tael.

The price of 4-number 9 gold rings at SJC remained the same as at the end of yesterday, with the buying price at 116.8 million VND and the selling price at 119.3 million VND; Phu Nhuan Jewelry Company (PNJ) also kept the buying price at 116.8 million VND and the selling price at 119.5 million VND...

Gold price skyrocketed on the morning of August 14, setting a new record. PHOTO: NGOC THANG

The world gold price reached 3,367 USD/ounce, up 23 USD after one day. The USD-Index hit its lowest level in 2 weeks while the yield on 10-year US government bonds also decreased slightly, contributing to the increase in gold. In addition, the precious metal also increased thanks to expectations that the US will soon lower interest rates. In particular, the US inflation report in July cooled down, making investors hopeful that the Federal Reserve (Fed) will soon cut interest rates. According to data from the CME FedWatch tool, investors are predicting a nearly 100% probability that the Fed will lower interest rates at its September meeting. Low interest rates in the context of trade and geopolitical tensions still persist also make gold more chosen as a safe haven.

Some analysts say gold prices are being most impacted by expectations of US interest rate cuts, not tariffs or geopolitical issues related to Russia and Ukraine.

In addition to gold, the US stock market continued to rise. At the end of the trading session on August 13 (early morning of August 14, Vietnam time), the Dow Jones index increased by 463.66 points, equivalent to 1.04% to 44,92.27 points; the S&P 500 index increased by 0.32% to 6,466.58 points and the Nasdaq Composite index added 0.14% to 21,713.14 points. Both the S&P 500 and Nasdaq Composite indexes closed at record highs for the second consecutive session./.

According to Thanh Nien Newspaper

Source: https://thanhnien.vn/gia-vang-hom-nay-1482025-tang-vot-lap-ky-luc-moi-185250814071826637.htm

Source: https://baolongan.vn/gia-vang-hom-nay-14-8-tang-vot-lap-ky-luc-moi-a200637.html