Gold price today (August 7): Gold bars continue to increase

Gold price today (August 7): Domestic gold bars continued to increase in buying direction; meanwhile, world gold turned to decrease due to the increase in USD price and investors' waiting psychology before important information.

Domestic gold bar price today

Gold bar price today increased by 200 thousand VND/tael in buying and remained the same in selling.

The brands SJC, PNJ, and Bao Tin Minh Chau simultaneously listed the price of gold bars at 122.4 - 123.8 million VND/tael (buy - sell), an increase of 200,000 VND/tael for buying and unchanged for selling compared to early yesterday morning.

DOJI traded gold bars at 122.2 - 123.8 million VND/tael (buy - sell), stable in both directions compared to early this morning.

Phu Quy SJC listed gold bars at 121.2 - 123.8 million VND/tael (buy - sell), unchanged in both directions compared to early this morning.

Gold bar prices continued to increase today in the buying direction. Photo: VNA

Domestic gold bar prices updated at 5:30 a.m. on August 7 as follows:

Yellow	Area	Early morning 6-8	Early morning 7-8	Difference
Buy	Sell	Buy	Sell	Buy	Sell
Unit of measure: Million VND/tael	Unit of measure: Thousand dong/tael
DOJI	Hanoi	122.2	123.8	122.2	123.8	–	–
Ho Chi Minh City	122.2	123.8	122.2	123.8	–	–
SJC	Ho Chi Minh City	122.2	123.8	122.4	123.8	+200	–
Hanoi	122.2	123.8	122.4	123.8	+200	–
Danang	122.2	123.8	122.4	123.8	+200	–
PNJ	Ho Chi Minh City	122.2	123.8	122.4	123.8	+200	–
Hanoi	122.2	123.8	122.4	123.8	+200	–
Bao Tin Minh Chau	Nationwide	122.2	123.8	122.4	123.8	+200	–
Phu Quy SJC	Nationwide	121.2	123.8	121.2	123.8	–	–

Domestic gold ring price today

The gold ring market today remained stable compared to yesterday's trading session.

Specifically, SJC listed the price of gold rings at 116.8 - 119.3 million VND/tael (buy - sell), unchanged in both directions.

DOJI and PNJ brand gold rings also remained unchanged compared to yesterday, currently trading at 117.5 - 120 million VND/tael (buy - sell).

Bao Tin Minh Chau has not changed the price of gold rings compared to yesterday morning, currently trading at 117.8 - 120.8 million VND/tael (buy - sell).

Phu Quy brand gold rings are traded at the same price as yesterday, currently listed at 116.7 - 119.7 million VND/tael (buy - sell).

World gold price today

The world gold price today turned down 0.25%, equivalent to a decrease of 8.37 USD/ounce in the past 24 hours, with the spot gold price currently at 3,371.87 USD/ounce (equivalent to about 107.4 million VND/tael converted according to Vietcombank exchange rate, excluding taxes and fees). Thus, the domestic gold bar price is about 16.4 million VND/tael higher than the world gold price.

World gold prices today turned down. Photo: Xinhua

World gold prices fell as US Treasury yields edged up, while investors remained cautious ahead of US President Donald Trump's announcement of nominees for the US Federal Reserve (Fed).

The yield on the 10-year Treasury note rose again after four consecutive sessions of decline, reducing the appeal of gold.

“Investors will be closely monitoring developments related to the White House’s Fed appointments and any trade-related news, as both factors have the potential to impact market sentiment,” said Ricardo Evangelista, senior analyst at ActivTrades.

The market is currently focused on two key factors. Weaker-than-expected US jobs data has increased the odds of a Fed rate cut in September (the probability is now close to 88%); lower interest rates tend to make gold more attractive. Conversely, the US dollar is strengthening, making gold more expensive for buyers using other currencies and reducing the appeal of the precious metal.

The conflict between these two factors has caused gold prices to fluctuate and not fluctuate much. The focus now is on US President Donald Trump, who is about to announce new leadership positions at the Fed, which could have a big impact on future monetary policy.

Despite the intraday correction, Evangelista of ActivTrades said that gold still has room to rise, with a short-term target of around $3,400, thanks to sustained demand stemming from trade tensions, growth and inflation concerns, as well as persistent weakness in the US dollar.

In the physical market, the Perth Mint reported a 33% drop in gold product sales in July compared to the previous month.

KHANH MINH

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Source: https://baolamdong.vn/gia-vang-hom-nay-7-8-vang-mieng-tiep-tuc-tang-386633.html