Gold price today August 18: Bounced back to record level

Domestic gold prices rose back to record highs as global precious metals rose.

Saigon Jewelry Company - SJC increased the price of gold bars by 200,000 VND per tael, buying at 123.7 million VND, selling at 124.7 million VND. Mi Hong Company also increased each tael of gold bars by 200,000 VND, buying at 124 million VND, selling at 124.7 million VND. Phu Quy Company increased the buying price by 200,000 VND, to 124.7 million VND, while the buying price remained at 122.7 million VND...

Similarly, the price of gold rings also increased from 100,000 - 200,000 VND per tael, Phu Quy Company bought for 116.5 million VND, sold for 119.5 million VND; SJC Company bought for 116.8 million VND, sold for 119.4 million VND... The price of gold rings is currently 12.8 million VND/tael higher than the world price , while gold bars are 18.1 million VND/tael more expensive - this is the highest level in many months.

Domestic gold prices increase again. PHOTO: NGOC DUONG

World gold prices increased by 8 USD, to 3,344 USD/ounce. Gold prices increased due to the latest data showing that consumer sentiment in the US decreased more than expected, inflation expectations also increased higher. Specifically, the University of Michigan announced the preliminary results of the consumer sentiment survey in August at 58.6, lower than the final result in July of 61.7. This data is also much lower than the general forecast of economists showing that the index will improve to 62. Meanwhile, the inflation picture continues to worsen, with the possibility of full-year inflation increasing from 4.5% in July to 4.9% in August.

This week, markets will look to Federal Reserve Chairman Jerome Powell's speech at the Jackson Hole conference on Friday for clearer signals on policy direction. Other data to watch include housing starts and building permits for July, due Tuesday. Data on Thursday will include the Philadelphia Federal Reserve manufacturing index, weekly jobless claims, the S&P Global flash PMI for August and existing home sales for July.

According to Thanh Nien Newspaper

Source: https://thanhnien.vn/gia-vang-hom-nay-1882025-bat-tang-tro-lai-muc-ky-luc-185250818084837458.htm

Source: https://baolongan.vn/gia-vang-hom-nay-18-8-bat-tang-tro-lai-muc-ky-luc-a200853.html