Gold price today August 16: Continues to plummet

(NLDO) – Gold prices today, August 16, continued to decrease as the market expected the world geopolitical situation to cool down.

Gold price today has not stopped falling

Early on August 16 (Vietnam time), the price of gold today on the international market closed the weekend at 3,336 USD/ounce, down 13 USD compared to the peak in last night's trading session (3,349 USD/ounce).

For the week, gold prices lost more than 2% of their value, marking the second consecutive week of decline. This decline took place in the context of global financial markets focusing on economic signals from the US and geopolitical developments, especially the summit between US President Donald Trump and Russian President Vladimir Putin in Alaska.

The US-Russia summit has attracted the attention of the market. According to Bloomberg, the US is seeking a ceasefire in Ukraine, while Russia sees this as an opportunity to strengthen its position through negotiations. The developments at the summit may affect market sentiment, especially safe-haven assets, making financial investors think that the world geopolitical situation may cool down. As a result, many people sell gold to recover capital. Gold prices today, of course, fell.

Analysts say the gold market is in a sensitive phase, with economic and geopolitical factors continuing to dominate. Investors need to closely monitor US economic information and from the US-Russia summit to make appropriate trading decisions.

In Vietnam, at the end of August 15, SJC gold was sold at 124.5 million VND/tael, while ring gold was at 119.1 million VND/tael.

Source: https://nld.com.vn/gia-vang-hom-nay-16-8-tiep-tuc-lao-doc-196250816064207008.htm