Gold price today August 16: Standing at the peak, 18 million VND more expensive than the world

On the morning of August 16, the world gold price stood at 3,334.1 USD/ounce, down nearly 2 USD compared to yesterday. Converted according to Vietcombank exchange rate, world gold is equivalent to 106.3 million VND/tael (excluding taxes and fees). Domestically, gold bars at Saigon Jewelry Company - SJC continued to maintain the buying price of 123.5 million VND/tael, selling price of 124.5 million VND. Currently, each tael of SJC gold bar is 18.2 million VND more expensive than the world price.

Gold price on the morning of August 16 continued to stay at its peak and was more expensive than the world price by over 18 million VND/tael (PHOTO: NGOC THANG)

Similarly, the price of 4-number 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 decreased by 200,000 VND when buying to 116.6 million VND, selling to 119.5 million VND; Doji also decreased by 300,000 VND and buying to 116.5 million VND, selling to 119.5 million VND... The difference in buying and selling prices of gold rings at many units is high at 3 million VND/tael while the difference in buying and selling prices of gold bars at SJC is only 1 million VND.

Gold prices fell this week after higher-than-expected US inflation data for July dampened expectations of a rate cut by the US Federal Reserve. Investors are now leaning towards the possibility that the Fed will only cut interest rates by 0.25 percentage points in September, instead of 0.5 points as some had previously expected.

Investors are also paying attention to the negotiations between US President Donald Trump and Russian President Vladimir Putin. Analysts at ANZ said that macroeconomic and geopolitical risks will increase in the second half of this year, thereby strengthening gold's role as a safe haven asset. According to this unit, the prospect of gold's price increase is still maintained, thanks to factors such as the risk of increased tariffs, the global economic slowdown, the possibility of the Fed easing monetary policy and the prolonged weakness of the USD. Geopolitical instability and low interest rates often boost demand for gold./.

According to Thanh Nien Newspaper

Source: https://thanhnien.vn/gia-vang-hom-nay-1682025-dung-tren-dinh-cao-dat-hon-the-gioi-18-trieu-dong-185250816082101787.htm

Source: https://baolongan.vn/gia-vang-hom-nay-16-8-dung-tren-dinh-cao-dat-hon-the-gioi-18-trieu-dong-a200763.html