Gold price movements today show that domestic gold rings fluctuated little this morning.
Specifically, Saigon Jewelry Company (SJC) listed the price of gold rings of type 1-5 at only 77.1-78.4 million VND/tael (buy - sell), unchanged from the closing price of yesterday's trading session.
Doji Gold and Gemstone Group listed the price of 9999 round smooth gold rings at 77.15-78.35 million VND/tael (buy - sell), unchanged from the closing price of yesterday's trading session.
Opening the trading session on August 22 , the price of SJC 9999 gold remained unchanged compared to the closing session yesterday, at 81 million VND/tael (selling).
The price of 9999 gold was updated by Saigon Jewelry Company Limited (SJC) at 8:10 a.m. and the price of 9999 gold was listed by Doji Jewelry Group at 8:40 a.m. as follows:
| Buy | Sell | |
| SJC HCMC | 79,000,000 VND/tael | 81,000,000 VND/tael |
| Doji Hanoi | 79,000,000 VND/tael | 81,000,000 VND/tael |
| Doji HCMC | 79,000,000 VND/tael | 81,000,000 VND/tael |
SJC and Doji gold price list updated early morning August 22
At the end of the trading session on August 21, the domestic 9999 gold price was listed by SJC and Doji Gold and Gemstone Group in the following order of buying and selling:
Doji Hanoi: 79,000,000 VND/tael - 81,000,000 VND/tael
SJC HCMC: 79,000,000 VND/tael - 81,000,000 VND/tael
Doji HCMC: 79,000,000 VND/tael - 81,000,000 VND/tael
The central exchange rate on August 22, 2024 announced by the State Bank is 24,245 VND/USD, down 1 VND compared to the previous trading session. The USD price at commercial banks this morning (August 22) was commonly listed at 24,740 VND/USD (buy) and 25,110 VND/USD (sell).
At 8:29 a.m. today (August 22, Vietnam time) , the world spot gold price was at 2,511.7 USD/ounce, up 5.7 USD/ounce compared to last night. The price of gold futures for December 2024 on the Comex New York floor was at 2,548.9 USD/ounce.
On the morning of August 22 , the world gold price converted to USD bank price was nearly 76.8 million VND/tael, including tax and fees, about 4.2 million VND/tael lower than the domestic gold price.
As of 8:30 p.m. on August 21 (Vietnam time), the spot gold price today on the world market was at $2,506/ounce. Gold for December 2024 delivery on the Comex New York floor was at $2,542/ounce.
The world gold price on the night of August 21 was about 21.5% higher (443 USD/ounce) than at the end of 2023. The world gold price converted to the bank USD price was 76.5 million VND/tael, including taxes and fees, about 4.4 million VND/tael lower than the domestic gold price as of the end of the afternoon session on August 21.
The world gold price is hanging above the sensitive threshold of 2,500 USD/ounce and profit-taking pressure is quite large. Investors are waiting for signals from the meeting of central bank leaders of many countries taking place at the end of the week.
On Kitco, according to SP Angel, the amount of money investors bet on the possibility of gold prices rising increased by 18%, with total new futures contracts reaching over $6.7 billion last week. Huge money is pouring into this investment channel.
US investors are also buying gold ETFs to protect their assets against a weakening US dollar.
The US is about to enter a period of monetary easing, with lower interest rates, which will weaken the USD.
Gold is also expected to be buoyed by strong demand from India, where pre-wedding gold purchases are strong. Pre-Christmas jewelry purchases in India also tend to push prices up in the fall.
In addition, China is expected to return to net gold purchases as many private investors lose confidence in local banks and investment funds.
Moreover, the Chinese government's statement that "real estate is for living, not for investment" also encouraged investors to jump into other types of assets, including gold.
Investors are now looking for policy clues from the minutes of last week's meeting of the Federal Open Market Committee (FOMC).
Investors are also awaiting speeches from central bank officials, including US Federal Reserve Chairman Jerome Powell, at the Jackson Hole conference this weekend.
The USD is on a downward trend. By the evening of August 21, the DXY index in the Asian market had dropped to 101.45 points, compared to 102.9 points on August 16 and 106.25 points at the end of April.
Many Fed officials have recently advocated cutting interest rates at a rapid pace to help the US economy avoid a recession.
According to experts from Citi, gold is on an upward trend in the next 3-6 months. Spot gold prices will average $2,550/ounce in the fourth quarter of 2024.
Some forecast that gold prices will reach $2,700/ounce (equivalent to VND82 million/tael) in the rest of the year.
Source: https://vietnamnet.vn/gia-vang-hom-nay-22-8-2024-tren-dinh-cao-vang-nhan-tang-len-moc-ky-luc-2314296.html
![[Photo] National Assembly Chairman Tran Thanh Man visits Vietnamese Heroic Mother Ta Thi Tran](https://vphoto.vietnam.vn/thumb/1200x675/vietnam/resource/IMAGE/2025/7/20/765c0bd057dd44ad83ab89fe0255b783)
Comment (0)