Gold price today August 15: Anchored at record price

On the morning of August 15, the price of gold bars at Saigon Jewelry Company - SJC was maintained at 123.5 million VND/tael for buying and 124.5 million VND/tael for selling. Compared to the record high price achieved yesterday, the selling price has decreased by 200,000 VND. This also brought the difference between buying and selling gold bars down to 1 million VND/tael. This is the lowest difference since the beginning of the year for SJC gold bars.

The price of 4-9 gold rings at SJC also decreased by 200,000 VND, bringing the buying price down to 116.6 million VND and the selling price to 119.1 million VND. Phu Nhuan Jewelry Company (PNJ) alone kept the buying price unchanged at 116.8 million VND and the selling price at 119.8 million VND; Doji bought at 116.8 million VND and sold at 119.8 million VND... The difference in buying and selling prices of gold rings at many units is high at 3 million VND/tael, causing buyers of gold rings to lose more than gold bars.

Gold prices are at record highs. PHOTO: NGOC THANG

The world gold price fell to 3,335.7 USD/ounce, down 31.3 USD after a day. The precious metal fell as the USD price rebounded from its lowest level in more than 2 weeks and the yield on 10-year US government bonds rose from a 1-week low. In addition, yesterday, the US Department of Labor reported that the producer price index (PPI) in July increased 0.9% compared to June, much higher than the forecast of 0.2% increase from economists participating in the Dow Jones survey.

Compared to the same period last year, the PPI index increased 3.3% - also higher than the forecast of 2.5%. Meanwhile, the number of weekly unemployment benefits in the US was lower than forecast, at 224,000 compared to the forecast of 228,000.

Some analysts said that the high PPI index in July shows that the possibility of the US Federal Reserve (Fed) cutting interest rates is uncertain. Speaking on CNBC, Mr. Ole Hansen, head of commodity strategy at Saxo Bank, said that the weakening of gold prices due to the higher-than-expected PPI data could reduce expectations of interest rate cuts, as this index could lead to a higher increase in July's core PCE inflation, which would make the Fed continue to be cautious.

The market is currently predicting a 93% probability that the Fed will cut interest rates in September - lower than the 97% before the PPI index./.

According to Thanh Nien Newspaper

Source: https://thanhnien.vn/gia-vang-hom-nay-1582025-neo-o-gia-ki-luc-185250815082752592.htm

Source: https://baolongan.vn/gia-vang-hom-nay-15-8-neo-o-gia-ky-luc-a200707.html