In today's trading session, gold price SJC gold bars and gold rings both increased compared to yesterday. SJC gold bars are approaching the record high of 124.4 million VND/ounce, set in April this year. Gold rings also remain at a very high level.
Specifically, at 10:30 AM on August 5th, Saigon Jewelry Company (SJC) listed the buying and selling prices of SJC gold bars at 122.2-123.8 million VND/ounce, an increase of 500,000 VND/ounce in both buying and selling prices compared to the closing price of the previous day. The buy-sell spread was 1.6 million VND.
The buying price of SJC 9999 gold rings is 116.8 million VND/ounce, and the selling price is 119.3 million VND/ounce, an increase of 500,000 VND per ounce in both directions (buying and selling).
Meanwhile, the price of DOJI gold bars in Hanoi and Ho Chi Minh City was 122.2 million VND/ounce for buying and 123.8 million VND/ounce for selling, an increase of 500,000 VND/ounce in both buying and selling prices compared to the closing price of the previous day.
This brand lists its prices at gold rings Doji Hung Thinh Vuong 9999 is trading at 117.5-120 million VND/ounce (buy-sell), an increase of 500,000 VND/ounce in both buying and selling prices compared to yesterday.
PNJ listed gold at 117.5 million VND/ounce for buying and 120 million VND/ounce for selling, an increase of 500,000 VND per ounce in both directions (buying and selling) compared to the previous closing session.
As of 10:30 AM on August 5th (Vietnam time), the world gold price increased by $10/ounce compared to the previous day's closing price, reaching $3,371.5/ounce.
The main factor driving today's global gold prices stems from unfavorable economic data, leading the market to increasingly favor the possibility of the Fed lowering interest rates in the near future.
Hiring in the US slowed in July, while data for May and June were also sharply revised downward. Shortly afterward, US President Donald Trump fired the head of the labor statistics agency and announced he would soon appoint new personnel to the positions of Federal Reserve Governor and Head of the Bureau of Labor Statistics (BLS).
According to the CME FedWatch forecasting tool, investors now assess an 85% probability that the Fed will cut interest rates in September, a sharp increase from 63% a week ago. Gold prices tend to rise when interest rates are low and are seen as a hedge against inflation.
Today, the USD-Index edged lower to 98.85 points; the yield on 10-year US Treasury bonds is currently at 4.199%; US stocks are on the path to recovery; world oil prices fell slightly, trading around $68.67 per barrel for Brent crude and $66.19 per barrel for WTI crude.
Source: https://baoquangninh.vn/gia-vang-ngay-5-8-tang-khong-ngung-nghi-vang-mieng-sjc-dang-huong-len-lai-dinh-lich-su-3370106.html
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