Gold price today August 20: Dropped to the lowest level in the past two weeks

(NLDO) – Gold prices today, August 20, continued their sharp downward trend as investors sold ahead of the important FED meeting.

Gold price today plunged

As of 6:00 a.m. (Vietnam time), the price of gold today on the international market continued to decrease to 3,318 USD/ounce, down 26 USD compared to the peak in last night's trading session (3,344 USD/ounce).

Gold prices hit a two-week low today as traders sold off ahead of a key meeting of central banks in the US.

Investors are focusing their attention on the US Federal Reserve's (FED) annual economic policy conference, scheduled to open on August 21. At the conference, FED Chairman Jerome Powell is expected to announce a new policy framework, which could provide important information about the possibility of lowering interest rates in the US in September, a factor that is expected to strongly affect the gold market.

The decline in gold prices today shows investors' cautiousness in the face of uncertainties from global monetary policies. Signals from the speech of the FED Chairman will play a key role in shaping the short-term trend of world gold prices.

In Vietnam, at the end of August 19, 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-20-8-giam-xuong-muc-thap-nhat-trong-hai-tuan-qua-19625082006220759.htm