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  • Domestic gold price today August 27, 2024
  • International gold price today August 27, 2024
  • Gold Price Forecast
Domestic gold price today August 27, 2024

Gold price movements today show that domestic gold rings fluctuated little this morning.

Saigon Jewelry Company (SJC) listed the price of gold rings of type 1-5 at only 77.3-78.55 million VND/tael (buy - sell), unchanged from the closing price of yesterday's trading session.

At the beginning of the trading session on August 27 , the price of SJC 9999 gold remained unchanged compared to the closing price of yesterday's trading session, at VND 81 million/tael (selling price).

The price of 9999 gold was updated by Saigon Jewelry Company Limited (SJC) at 8:23 a.m. and the price of 9999 gold was listed by Doji Jewelry Group at the end of August 26 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 27

At the end of the session on August 26, the price of 9999 gold bars at SJC was 79 million VND/tael (buy) and 81 million VND/tael (sell). SJC listed the price of gold rings at 77.3 - 78.55 million VND/tael (buy - sell).

Doji Hanoi listed at 79 million VND/tael (buy) and 81 million VND/tael (sell). Doji Ho Chi Minh City bought SJC gold at 79 million VND/tael and sold at 81 million VND/tael.

Bao Tin Minh Chau listed the price of Golden Dragon gold bars at 77.32-78.52 million VND/tael (buy - sell).

The central exchange rate on August 27, 2024 announced by the State Bank is 24,224 VND/USD, down 30 VND compared to the previous trading session. The USD price at commercial banks this morning (August 27) was commonly listed at 24,670 VND/USD (buy) and 25,040 VND/USD (sell).

International gold price today August 27, 2024

At 8:29 a.m. today (August 27, Vietnam time) , the world spot gold price was at 2,512.7 USD/ounce, down 14.2 USD/ounce compared to last night. The price of gold futures for December 2024 on the Comex New York floor was at 2,546.7 USD/ounce.

On the morning of August 27 , the world gold price converted to USD bank price was nearly 76.7 million VND/tael, including tax and fees, about 4.3 million VND/tael lower than the domestic gold price.

Gold price on Kitco floor at 8:30 p.m. (August 26, Vietnam time) was trading at 2,526.9 USD/ounce, up 0.47% compared to the beginning of the session. Gold futures price for December 2024 delivery on Comex New York floor was trading at 2,562.3 USD/ounce.

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World gold is approaching a historic high. Photo: Hoang Ha

At the beginning of the trading session in the US, the world gold price increased, approaching the historical high of 2,531 USD/ounce (set on August 20), due to the demand for safe havens after the military conflict between Israel and Hezbollah last weekend.

In addition, experts say that the gold price increase is not over yet, because the US Federal Reserve (Fed) is about to begin a cycle of easing monetary policy.

Recent moves by the Fed have shown that officials of the US Central Bank have shown their support for a policy pivot at the next meeting. The Fed Chairman emphasized that it is time to cut interest rates. This information continues to create confidence for investors as the direction of gold prices becomes clearer.

Currently, according to the CME FedWatch tool, the market is 36.5% certain that interest rates will be cut by 50 basis points at the monetary policy meeting next month.

Experts say the move to loosen monetary policy will negatively impact the USD, which will support the upward trend of gold prices.

The biggest risk for the precious metals market in the coming period is inflation data, focusing on the US personal consumption expenditure (PCE) index in July. If inflation falls, it will strengthen the case for the Fed to ease monetary policy. Conversely, if inflation rises, it will be a drag on precious metals.

Gold Price Forecast

According to the forecast of senior analyst Jim Wyckoff from Kitco, the current increase in gold is only short-term.

Forex senior market strategist James Stanley predicts that gold prices will trend lower next week. The gold market will see some profit-taking, causing gold to fall below $2,500 an ounce.

But according to Forexlive's Head of Currency Strategy, Adam Button, in the current environment, the downward correction in the gold market will not last long.

Gold prices are rising, which country holds the most gold in the world? The world gold price continues to increase sharply, countries will continue to diversify their reserves by buying gold to preserve assets, according to the World Gold Council.