Gold price today August 21: Accelerating again after a series of declines

(NLDO) – In the context of the US stock market sell-off, the price of gold today, August 21, increased strongly, marking a recovery after many days of decline.

Gold price today bounced back

Gold's price increase today was fueled by selling pressure in the US stock market, causing investors to seek safe-haven assets such as gold.

Stock traders appear to be concerned about the prospect of high volatility in the coming months of September and October – a period often seen as sensitive for the US stock market. In addition, technical buying moves also contributed to supporting gold prices today.

The gold market is currently focused on the US Federal Reserve's (Fed) annual symposium. The highlight is the speech by Fed Chairman Jerome Powell, which is expected to clarify the Fed's views on interest rate adjustments and monetary policy framework. This will have a certain impact on the value of the USD, affecting the trend of gold prices.

In other important markets, the US dollar index fell slightly, creating favorable conditions for gold prices to increase as investors used other foreign currencies to buy.

Crude oil prices recorded a slight increase, trading around $62.75/barrel. Meanwhile, the 10-year US bond yield is currently around 4.32%, reflecting investors' cautious sentiment ahead of policy developments from the Fed.

In Vietnam, at the end of August 20, SJC gold was sold at 124.8 million VND/tael, while ring gold was at 119.3 million VND/tael.

Source: https://nld.com.vn/gia-vang-hom-nay-21-8-tang-toc-tro-lai-sau-chuoi-ngay-giam-196250821061725265.htm