Gold price movements today show that domestic gold rings were adjusted up slightly early 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), an increase of 100 thousand VND per tael in both buying and selling compared to the end of yesterday's trading session.
Doji Gold and Gemstone Group listed the price of 9999 round smooth gold rings at 77.2-78.4 million VND/tael (buy - sell), also increasing by 100 thousand VND per tael in both directions compared to the closing price of yesterday's trading session.
Opening the trading session on August 24 , 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 8:26 am and the price of 9999 gold was listed by Doji Jewelry Group at 8:45 am 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 24/8
On August 23, the price of 9999 gold bars at SJC was 79 million VND/tael (buy) and 81 million VND/tael (sell).
Doji listed at 79 million VND/tael (buy) and 81 million VND/tael (sell).
The central exchange rate on August 24, 2024 announced by the State Bank is 24,250 VND/USD, unchanged from the previous trading session. The USD price at commercial banks this morning (August 24) was commonly listed at 24,780 VND/USD (buy) and 25,150 VND/USD (sell).
At 8:31 a.m. today (August 24, Vietnam time), the world spot gold price was at 2,512.1 USD/ounce, up 14.1 USD/ounce compared to last night. The gold futures price for December 2024 on the Comex New York floor was at 2,546.3 USD/ounce.
On the morning of August 24 , the world gold price converted to USD bank price was nearly 77 million VND/tael, including tax and fees, about 4 million VND/tael lower than the domestic gold price.
The world spot gold price at 9:00 p.m. (August 23, Vietnam time) was at $2,498/ounce, up 0.52% from the beginning of the session. The December 2024 gold futures price was trading at $2,533/ounce.
Gold prices rose sharply at the beginning of the US trading session. The gold market is expecting an important speech by the head of the US Central Bank on monetary policy. Chairman of the US Federal Reserve (Fed) Jerome Powell will give a speech, giving some directions on the roadmap for interest rate cuts in the coming time.
Market expectations are tilted toward a September rate cut. Markets are now pricing in a 100% chance that the Fed will cut rates by 25 basis points at its September meeting, according to data from the CME Group's FedWatch Tool.
Lower interest rates will push the US dollar and US government bond yields down and send gold prices higher.
The US Dollar Index (DXY), which measures the greenback's movements against six major currencies (EUR, JPY, GBP, CAD, SEK, CHF) stood at 101.53 points.
Nymex crude oil prices rose and are trading around $74 a barrel. The benchmark 10-year U.S. Treasury note is yielding 3.854%.
Ahead of its global precious metals conference in October, the London Bullion Market Association (LBMA) continues to advocate that gold should be considered a high-quality liquid asset (HQLA) in the modern financial landscape.
Ruth Crowell, CEO of the LBMA, said gold is an important asset as investors continue to worry about the health of the global economy. Data from crises such as Covid-19 or the US banking crisis show that gold remains a high-quality liquid asset.
Last week, the gold market reached a major milestone. At $2,500 an ounce, a standard 400-ounce gold bar is worth $1 million.
According to experts, continued economic uncertainty and changing central bank policies make gold still an important asset for investors.
Source: https://vietnamnet.vn/gia-vang-hom-nay-24-8-2024-tang-bung-no-vang-nhan-chiem-lai-dinh-lich-su-2315020.html
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