Gold price today August 16, 2025 SJC gold is still more expensive than ever

Domestic gold ring prices fluctuated little this morning. Most brands are maintaining gold ring prices at yesterday's closing level.

At the beginning of the trading session on August 16, the price of SJC 9999 gold remained unchanged compared to the closing price of yesterday's trading session, at 123.5-124.5 million VND/tael (buy - sell).

World gold prices fell slightly this morning. At 10:03 a.m. today (August 16, Vietnam time), the world spot gold price was at 3,336 USD/ounce, down 5 USD/ounce compared to last night.

On the morning of August 16, the world gold price converted to USD bank price was over 107.3 million VND/tael, including tax and fees, about 17.2 million VND/tael lower than the domestic gold price.

At 8:00 p.m. (August 15, Vietnam time), the spot gold price was at $3,341/ounce, up 0.2% from the beginning of the session. The gold futures price for September 2025 delivery on the Comex New York floor reached $3,349/ounce.

The US Commerce Department reported that retail sales rose 0.5% last month, after rising 0.6% in June. The data was in line with expectations, with economists predicting overall growth of 0.5% for July.

Retail sales rose 3.9% over the past 12 months, the report said, compared with expectations for a 3.5% increase and following a 4.4% increase in June.

Core sales (excluding vehicle sales) rose 0.3% last month, matching forecasts for 0.3% growth and compared with June's upwardly revised 0.8% gain.

Earlier, the US producer price index (PPI) in July was higher than expected. The core PPI (excluding food and energy) increased 3.7% year-on-year, far exceeding market forecasts.

SJC gold price remains at record high. Photo: Pham Hai

While the data did not cause major volatility and the possibility of the Federal Reserve (Fed) cutting interest rates in September is still highly appreciated, it can eliminate the possibility of the Fed making a sharp cut of 50 basis points.

Markets are focused on President Donald Trump and Vladimir Putin at a summit in Alaska. Trump aims to seek a ceasefire in Ukraine, while Putin sees the meeting as a victory without concessions.

Geopolitical instability has a strong and direct impact on gold prices. Gold has long been considered a safe haven asset, sought by investors to protect their assets.

The US Dollar Index (DXY), which measures the greenback's movements against six major currencies (EUR, JPY, GBP, CAD, SEK, CHF), stood at 97.85 points.

Crude oil prices fluctuated and traded around $63.5/barrel. The yield on 10-year US Treasury bonds was at 4.27%.

Domestic gold market on August 15, SJC gold bar price closed at 123.5-124.5 million VND/tael (buy - sell), down 200 thousand VND/tael in both buying and selling compared to the end of yesterday's trading session.

The price of 1-5 chi SJC gold rings closed at 116.6-119.1 million VND/tael (buy - sell), down 200 thousand VND/tael in both directions compared to yesterday's closing price. The price of 9999 gold rings at Doji decreased 300 thousand VND/tael in both directions compared to yesterday's closing price, trading at 116.5-119.5 million VND/tael (buy - sell).

Gold Price Forecast

This strong PPI data will help push the Fed's preferred inflation gauge, the core personal consumption expenditure (PCE) index, higher in July, potentially making the Fed more cautious in its upcoming rate cut decisions, said Ole Hansen, head of commodity strategy at Saxo Bank.

A stronger dollar makes gold more expensive for investors using other currencies, reducing demand and putting pressure on prices. Conversely, a weaker dollar makes gold cheaper for international buyers and boosts demand, helping to boost prices.

Gold prices could see strong volatility once the market fully appreciates the impact of the US debt, according to Ryan McIntyre, managing partner at Sprott Inc.

He said that strong gold buying by central banks since the Russia-Ukraine conflict broke out remains a solid support for the market. This buying not only helps keep gold prices high but also strengthens investor confidence.

Source: https://vietnamnet.vn/gia-vang-hom-nay-16-8-2025-tang-vang-mieng-sjc-sat-muc-dinh-2432534.html