Gold price today August 27: Strong increase

(NLDO) – Gold price today, August 27, suddenly skyrocketed by tens of USD/ounce, reaching the highest level in the past two weeks, thanks to investors' safe haven sentiment.

Gold price is hot today

At 6:00 a.m. on August 27 (Vietnam time), the price of gold today on the international market reached 3,392 USD/ounce, up 26 USD compared to the lowest level in the trading session last night (3,365 USD/ounce). The price of gold for December delivery also recorded an impressive increase, reaching 3,434 USD/ounce, up 16.5 USD.

Gold's strong rally was fueled by safe-haven sentiment following President Donald Trump's shock announcement of firing Federal Reserve Board Governor Lisa Cook.

The move has raised concerns about the stability of US monetary policy, making gold an attractive investment channel.

President Trump announced the firing of Lisa Cook on charges of falsifying mortgage documents. Mr. Trump said he had sufficient grounds to make this decision. However, Ms. Cook strongly responded, asserting that Mr. Trump did not have the authority to fire her and declared that she would not resign.

According to analysts, the dismissal of Ms. Lisa Cook, if successful, will help Mr. Trump win a four-seat majority on the seven-member Board of Governors of the Fed, thereby increasing his ability to influence monetary policy.

Gold prices may continue to fluctuate strongly if the instability in the US continues. However, the Fed's actions and the reaction from global financial markets will be important factors affecting gold price trends in the coming days.

In Vietnam, at the end of August 26, SJC gold was sold at 127.7 million VND/tael, while ring gold was sold at 122.1 million VND/tael.

Source: https://nld.com.vn/gia-vang-hom-nay-27-8-bat-tang-manh-me-19625082706241841.htm