Gold price today August 22, 2024 recorded a slight decrease in the world market but still anchored above the important resistance level of 2,500 USD/ounce. Ring gold also increased following world gold.
LIVE UPDATE TABLE OF GOLD PRICE TODAY 8/22 AND EXCHANGE RATE TODAY 8/22
| 1. SJC - Updated: 08/21/2024 08:03 - Website time of supply - ▼ / ▲ Compared to yesterday. | ||
| Type | Buy | Sell |
| SJC 1L, 10L, 1KG | 79,000 | 81,000 |
| SJC 5c | 79,000 | 81,020 |
| SJC 2c, 1c, 5c | 79,000 | 81,030 |
| SJC 99.99 gold ring 1 chi, 2 chi, 5 chi | 77,100 ▲50K | 78,400 ▲50K |
| SJC 99.99 gold ring 0.3 chi, 0.5 chi | 77,100 ▲50K | 78,500 ▲50K |
| Jewelry 99.99% | 76,950 ▲50K | 77,950 ▲50K |
| Jewelry 99% | 75,178 ▲49K | 77,178 ▲49K |
| Jewelry 68% | 50,661 ▲34K | 53,161 ▲34K |
| Jewelry 41.7% | 30,158 ▲20K | 32,658 ▲20K |
Update gold price today 8/22/2024
Domestic gold prices recorded SJC gold bars reaching VND81 million - recorded at the close of trading on August 21. This is also the highest selling price on the market since the State Bank started selling "stabilized" gold from the beginning of June, through direct sales to 4 state-owned banks and SJC Company, instead of bidding.
According to regulations, four state-owned banks and SJC Company are allowed to sell at a maximum difference of 1 million VND compared to the price they buy from the State Bank.
Thus, the selling price from the management agency to business units is about 80 million VND/tael.
The price of gold rings is listed at 77.05-78.35 million VND/tael (buy - sell), up 150,000 VND in both directions in yesterday's session.
World gold prices fell slightly in the afternoon trading session on August 21 but remained above the important resistance level of 2,500 USD/ounce. Specifically, the world gold price on the Kitco exchange was at 2,500.5 - 2,501.5 USD/ounce, down 14 USD compared to the previous trading session.
Gold prices rose after the US Commerce Department released weaker-than-expected economic data. Unemployment and inflation figures also supported the possibility of the US Federal Reserve cutting interest rates next month.
Traders expect the Fed to cut rates next month and are fully pricing in a 25 basis point rate cut in September, with a 28.5% chance of a 50 basis point rate cut, according to the CME FedWatch tool.
World gold prices surpassed $2,500/ounce for the first time in mid-August - a record level.
The precious metal has gained more than 20% year-to-date as investors look ahead to the Fed’s September meeting, where investors expect the Fed to announce a rate cut next month.
In addition, the Russia-Ukraine conflict and tensions in the Middle East are still increasing, which helps the precious metal to consolidate its upward momentum.
In addition, the weakening of the US dollar also boosted gold prices. The US Dollar Index fell to a seven-month low on August 20, increasing the attractiveness of gold to buyers holding other currencies, while the yield on the benchmark US 10-year bond also fell.
 |
| Gold price today August 22, 2024: Gold price is high, when will the $3,000/ounce mark come? This is the first time gold bar prices have been this high! (Source: AP) |
Summary of SJC gold bar prices at major domestic trading brands at the closing time of the trading session on the afternoon of August 21:
Saigon Jewelry Company: SJC gold bars 79 - 81 million VND/tael.
Doji Group: SJC gold bars 79 - 81 million VND/tael.
PNJ system: SJC gold bars 71.1 - 78.35 million VND/tael.
Phu Quy Gold and Silver Group: SJC gold bars: 79 - 81 million VND/tael.
SJC gold price at Bao Tin Minh Chau is listed at: 79 - 81 million VND/tael.
The first time the price of gold bars is so high!
According to CNN , a 400-ounce gold bar costs more than $1 million - an unprecedented high.
CNN commented: "Of course, not every gold bar weighs exactly 400 ounces, and they are usually traded by central banks or large dealers, not individuals. Therefore, even though a gold bar costs more than $ 1 million, it does not affect the individual gold market."
It would not be surprising if gold prices consolidate or fall slightly as traders would likely be disappointed if the Fed only hints at a 25 basis point rate cut instead of 50 basis points, according to David Meger, chief investment officer at High Ridge Futures.
Meanwhile, Reuters technical analyst Wang Tao said the price could fall to $2,479 - $2,487 per ounce after the precious metal failed to break the resistance level of $2,507 per ounce.
Aakash Doshi, Head of North American Commodities at Citi Research, said the main reason for the rise in gold prices was financial investment demand, especially from exchange-traded funds (ETFs). Investor confidence in general also improved as they expected the Fed to cut interest rates at its September meeting.
Mr. Doshi predicts that gold prices could jump to $2,600 an ounce by the end of this year and $3,000 an ounce by the middle of next year.
Holdings at SPDR Gold Trust - the world's largest gold ETF - also hit a seven-month high of 859 tonnes.
Source: https://baoquocte.vn/gia-vang-hom-nay-2282024-gia-vang-neo-cao-moc-3000-usdounce-khi-nao-den-lan-dau-tien-gia-vang-thoi-cao-nhu-the-283361.html
![[Photo] Top players gather at the 2025 Nhan Dan Newspaper National Table Tennis Championship](https://vphoto.vietnam.vn/thumb/1200x675/vietnam/resource/IMAGE/2025/5/23/9ad5f6f4faf146b08335e5c446edb107)
Comment (0)