World gold prices continued to increase in the last session of the week after the latest data showed that consumer sentiment in the US fell more than expected, while inflation expectations increased.

The University of Michigan released the preliminary results of its consumer sentiment survey for August at 58.6, down from the final result in July of 61.7. The data was much lower than expected, with economists forecasting a reading of 62.

Consumer sentiment fell 5% in August, ending a four-month streak of gains, largely due to rising concerns about inflation, said Joanne Hsu, director of the Consumer Survey.

Durable goods purchases fell 14 percent to a one-year low due to higher prices, Hsu said. Personal finances also declined slightly due to concerns about purchasing power, although personal finances are expected to improve as incomes rise.

Longer-term inflation expectations also rose to 3.9 percent in August from 3.4 percent in July. The increase ended two consecutive months of declines in short-term expectations and three consecutive months of declines in long-term expectations. However, both measures remain well below their previous record highs in April-May 2025.

Earlier, the US Bureau of Labor Statistics (BLS) reported that the CPI in July increased by 0.2%, as expected. The annual increase was 2.7%, slightly lower than forecast. However, core inflation (excluding food and energy) increased by 3.1% year-on-year, higher than expected.

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Gold price increased at the end of the week. Photo: Hoang Ha

The producer price index (PPI) surprised with a 0.9% increase in July, far exceeding the forecast of a 0.2% increase. The annual increase reached 3.3%, the highest since February 2025. The core PPI also increased sharply by 0.9% last month.

Meanwhile, the Russia-US Summit in Alaska has officially ended after talks between Russian President Vladimir Putin and US President Donald Trump.

The talks focused primarily on finding a solution to the Ukraine conflict. However, no concrete agreements were announced.

At the end of the week, spot gold price was at 3,334 USD/ounce. Gold futures price for September 2025 delivery on the Comex New York floor reached 3,341 USD/ounce.

Domestic gold market on August 16, SJC gold bar price closed at 123.5-124.5 million VND/tael (buy - sell), unchanged 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), unchanged from yesterday's session. The price of 9999 gold rings at Doji was traded at 116.5-119.5 million VND/tael (buy - sell).

Gold Price Forecast

According to Adrian Day, Chairman of Adrian Day Asset Management, gold prices could fluctuate sharply in the short term, depending on the outcome of the meeting between US President Donald Trump and Russian President Vladimir Putin. This could cause gold prices to rise or fall sharply.

In the long term, Mr. Day believes that gold prices will continue to fluctuate within a range with a steady upward trend. The US Federal Reserve (Fed) interest rate cut in September has been reflected in the market. Therefore, for gold prices to break out, there needs to be more aggressive monetary easing.

Colin Cieszynski, chief market strategist at SIA Wealth Management, is neutral, saying the Alaska summit and Jackson Hole will determine the direction of the US dollar, which in turn will influence gold prices. In the time between the two events, the market is likely to remain stable.

US-Russia no agreement: What is the forecast for gold prices in the coming time? World gold prices experienced the sharpest decline since June in the week of August 11-15 amid mixed US inflation data. The US-Russia summit ended without reaching an agreement on Ukraine, which could boost gold demand.

Source: https://vietnamnet.vn/gia-vang-hom-nay-17-8-2025-tang-vang-mieng-sjc-neo-124-5-trieu-dong-2432771.html