Gold price today August 18: Reversal, all increase simultaneously

Update SJC gold price

As of 9:35, SJC gold bar price listed by DOJI Group at 123.7-124.7 million VND/tael (buy - sell), up 200,000 VND/tael in both directions. The difference between buying and selling prices is at 1 million VND/tael.

SJC gold price movements in recent trading sessions. Chart: Phan Anh

Meanwhile, Bao Tin Minh Chau listed the price of SJC gold bars at 123.7-124.7 million VND/tael (buy - sell), an increase of 200,000 VND/tael in both directions. The difference between the buy and sell prices is at 1 million VND/tael.

Phu Quy Gold and Gemstone Group listed the price of SJC gold bars at 122.7-124.7 million VND/tael (buy - sell), keeping the buying price unchanged and increasing the selling price by 200,000 VND/tael. The difference between buying and selling prices is at 2 million VND/tael.

Price of round gold ring 9999

As of 9:45 a.m., DOJI Group listed the price of gold rings at 116.8-119.8 million VND/tael (buy - sell), an increase of 300,000 VND/tael in both directions. The difference between buying and selling is 3 million VND/tael.

Bao Tin Minh Chau listed the price of gold rings at 117-120 million VND/tael (buy - sell), an increase of 200,000 VND/tael in both directions. The difference between buying and selling is 3 million VND/tael.

Gold ring price movements in recent trading sessions. Chart: Khuong Duy

Phu Quy Gold and Gemstone Group listed the price of gold rings at 116.6-119.6 million VND/tael (buy - sell), an increase of 200,000 VND/tael in both directions. The difference between buying and selling is 3 million VND/tael.

The buy-sell gap has been pushed too high, increasing the risk for individual investors. Individual investors, especially those with a “surfing” mentality, need to consider carefully before investing.

World gold price

At 9:38, world gold price listed around 3,341.9 USD/ounce, up 7.8 compared to a day ago.

Gold Price Forecast

“A lot will depend on the outcome of the meeting between US President Donald Trump and Russian President Vladimir Putin, which could send gold prices soaring or plummeting immediately,” said Adrian Day, chairman of Adrian Day Asset Management.

Apart from that, we see gold continuing to fluctuate within a range but with an upward trend. The US Federal Reserve (FED) interest rate cut in September has been reflected in the market, so we will need more monetary policy easing for gold to break out. So I think gold will be "unchanged", but with many accompanying notes."

“I’m neutral on gold this week. I think the market could be pretty quiet,” said Colin Cieszynski, chief market strategist at SIA Wealth Management.

James Stanley, senior strategist at Forex.com, predicts gold will rise. He says the precious metal is supported at current levels, while this week’s Jackson Hole event is unlikely to produce a “hawkish” surprise.

“I don’t think central banks will signal anything hawkish. They usually choose to hold off and ease, and next week will be no different,” Stanley said.

This week's rising inflation data is not enough to stop the Fed from cutting interest rates, according to Ole Hansen, head of commodity strategy at Saxo Bank.

“Gold initially fell after the stronger-than-expected PPI data, as the market feared it would make the Fed more cautious. However, rising production costs will eventually either eat into corporate profits or be passed on to consumers, adding to inflationary pressures. That does not change our long-term bullish view on gold. Ultimately, the Fed must balance between containing inflation and supporting the economy, ” he said.

Hansen said gold prices are currently stuck in a $200 range around $3,350 an ounce. “However, ETF demand remains strong, reaching a two-year high of 2,878 tonnes, suggesting the long-term trend remains positive.”

Daniel Pavilonis, senior commodities broker at RJO Futures, said gold is still trading sideways after the Swiss gold tax and inflation data. “We’ve seen gold prices bounce on the tax news, then fall back. Stocks have rallied, but gold is still stuck in a range. I was expecting gold to fall below $3,000 an ounce, but now I think it could rise a little or stay in the current range.

If the FED lowers interest rates and inflation increases, that will be a boost for gold. But if gold fails to reach a new peak by October or November, the risk of prices falling to the 200-day average around $2,964/ounce is real.”

Source: https://baoquangninh.vn/gia-vang-hom-nay-18-8-dao-chieu-dong-loat-bat-tang-3372085.html