Gold price today August 19: Decreased as USD increased

(NLDO) - Gold prices today, August 19, continued to decrease in the context of central banks reducing purchasing power, the USD increasing sharply and crude oil prices showing signs of heating up.

Gold prices continue to weaken today

As of 6:00 a.m. on August 19 (Vietnam time), the price of gold today on the international market dropped to 3,334 USD/ounce, down 21 USD compared to the peak in last night's trading session (3,355 USD/ounce).

Gold prices today fluctuated within a narrow range, with a slight downward trend. The market is cautious ahead of the annual economic policy conference of the US Federal Reserve (FED) scheduled to open on August 21. The speech of FED Chairman Jerome Powell at this conference is expected to provide important information on the monetary policy roadmap, especially the possibility of cutting interest rates in September 2025.

According to the World Gold Council, in the first half of 2025, central banks globally purchased 415 tonnes of gold, down 21% from the same period in 2024. However, the entire year of 2024 saw a record purchase of 1,089 tonnes of gold by central banks, reflecting the increasingly important role of gold in national reserves. The downward trend in gold purchases this year reflects the cautious sentiment of central banks in the context of global economic fluctuations.

Gold prices today were pressured by a rise in the US dollar index. A stronger US dollar makes gold, which is priced in US dollars, more expensive for investors holding other currencies.

Meanwhile, crude oil prices increased slightly, trading around 63 USD/barrel, contributing to increased inflationary pressure and indirectly affecting the gold market.

In Vietnam, at the end of August 18, SJC gold was sold at 125 million VND/tael, while ring gold was at 119.5 million VND/tael.

Source: https://nld.com.vn/gia-vang-hom-nay-19-8-sut-giam-khi-usd-tang-gia-196250819062705227.htm