At the close of trading on August 12th, SJC gold bars were listed by businesses at 122.7-123.9 million VND/ounce (buy - sell), unchanged from the previous day. Compared to the record high of 124.4 million VND/ounce at the beginning of the week, the selling price of gold bars has decreased by 500,000 VND.
The price of gold rings is listed at 116.5-119 million VND/ounce (buy - sell), a decrease of 400,000 VND in both buying and selling prices.
Globally , the price of gold today (Vietnam time) is trading around $3,345 per ounce, up $2 from before. Converted using the exchange rate excluding taxes and fees, the world gold price is equivalent to VND 106.6 million per tael. Compared to the price at the beginning of the year, the price of the precious metal has increased by 28%.
Gold prices have fallen below their record high of over 124 million VND/ounce (Photo: Manh Quan).
Gold prices fell slightly but quickly recovered amid the release of inflation reports. Previously, gold prices fluctuated sharply after US President Donald Trump announced that imported gold would not be subject to tariffs, and extended the 90-day moratorium on tariff increases on Chinese goods, lasting until early November.
According to experts, this move helps to de-escalate the risk of a trade conflict and creates more time for negotiations between the world's two largest economies .
Analysts warn that gold prices could remain volatile this week as investors await clearer information on the long-term US tax policy. If the tax exemption is confirmed, the gold market could stabilize, but any contradictory signals could trigger further corrections.
In her monthly gold report, Ewa Manthey, Commodity Strategist at ING Group, raised her price forecast amid a slowing US labor market and persistent inflationary pressures. She predicts the average gold price will reach $3,400 per ounce in the third quarter and $3,450 in the fourth quarter, higher than her previous forecast of $3,200 for both quarters.
The CME FedWatch Tool shows that the market is betting on a 90% chance of the Fed cutting interest rates next month and a 50/50 chance of three rate cuts this year. Manthey noted that concerns about the Fed's independence could continue to drive demand for safe-haven assets like gold.
The central exchange rate continues to rise.
The USD Index – a measure of the USD's strength against six major currencies (EUR, JPY, GBP, CAD, SEK, CHF) – has reversed course and is now trading around 98.04 points, down 0.06% from its previous high.
The State Bank of Vietnam announced the central exchange rate at 25,243 VND at the close of trading yesterday, an increase of 12 VND compared to the previous day. With a 5% margin compared to the central exchange rate, commercial banks are allowed to buy and sell USD within the range of 23,982 - 26,504 VND.
Major banks listed the exchange rate at 26,060-26,450 VND (buy - sell), an increase of 50 VND in both buying and selling rates. At private commercial banks, the exchange rate for the US dollar was listed at 26,060-26,440 VND/USD (buy - sell), an increase of 40 VND in both directions.
On the market, foreign exchange bureaus are accepting USD transactions at 26,420-26,480 VND (buy - sell), a decrease of 20 VND in the buying rate and an increase of 30 VND in the selling rate compared to before.
Source: https://dantri.com.vn/kinh-doanh/gia-vang-mat-moc-ky-luc-20250813081956623.htm
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