Gold price today August 17: Small gold shops continue to push SJC gold bars to new peaks

(NLDO) – While analysts predict that gold prices will remain stable, investors expect the decline to end soon.

At the end of the week, August 17, the price of SJC gold bars was listed by companies at 123.5 million VND per tael for buying and 124.5 million VND per tael for selling, an increase of 100,000 VND per tael compared to the end of last week.

Gold bar prices have increased for the third consecutive week and are at a historic peak. During the week, the highest mark in history was 124.7 million VND/tael, before falling again.

Notably, in the free market, some small shops continued to push the price of SJC gold bars to a record high of 125 million VND/tael for buying and 125.8 million VND/tael for selling, an increase of 600,000 VND compared to yesterday. With this development, the price of free SJC gold bars is 1.3 million VND/tael higher than that of gold at large companies.

Meanwhile, the price of 99.99% gold rings and jewelry gold cooled down, when businesses adjusted it to 116.6 million VND/tael for buying and 119.1 million VND/tael for selling, down 700,000 VND/tael compared to the end of last week.

Domestic gold price hits new peak

Thus, the price of SJC gold bars increased in the opposite direction of gold rings and widened the gap to more than 5 million VND/tael.

In the international market, the price of gold closed the trading week at 3,336 USD/ounce, down about 63 USD/ounce compared to the end of last week. The price of gold today decreased again, in the context of the USD remaining at a high level and the market lacking supportive information. Information about the US tariff policy with other countries has been reflected in the price, while the information that the US Federal Reserve (FED) will start reducing interest rates from September is unclear.

Many people expect gold prices to rise again.

In a notable development, Kitco's survey results on gold price trends next week show mixed views from experts and investors.

Accordingly, in a survey on Wall Street, 10 analysts participated in the response, of which only 10% said that gold prices would increase again, 10% said that gold prices would decrease, but up to 80% of opinions predicted that gold prices would remain stable. The fact that gold prices have no clear trend shows the unpredictability of precious metals.

In contrast, investors were more optimistic, with 183 investors responding to the Main Street survey, with 63% saying gold prices will rise again, 18% saying gold prices will fall and 19% expecting gold prices to stay the same.

Adrian Day, chairman of Adrian Day Asset Management, told Kitco that gold prices continue to fluctuate in a narrow range with a steady upward trend. The Fed's expected interest rate cut in September has been priced in, so gold prices need more monetary easing to break out stronger.

SJC gold bar price is sky high compared to world price

Some other experts said that "gold prices are rising". Because although US economic data shows that inflation is rising, it will not change the Fed's view of slowing down interest rate cuts. If the US cuts interest rates in September and has a few more interest rate adjustments later this year and early 2026, gold prices will benefit.

Currently, the world gold price converted according to the listed exchange rate is 18 million VND/tael higher than the world gold price.

Source: https://nld.com.vn/gia-vang-hom-nay-17-8-cua-hang-vang-nho-tiep-tuc-dua-vang-mieng-sjc-len-dinh-moi-196250816223943789.htm