Gold price on August 7: Domestic price remains high, world price turns to decrease

In today's trading session, gold price SJC gold bars and rings continue to anchor near historical peaks, contrary to the downward trend of world gold prices.

Specifically, at 10:30 a.m. on August 7, Saigon Jewelry Company (SJC) listed the buying and selling price of SJC gold bars at 122.4-123.8 million VND/tael, unchanged in both buying and selling prices compared to the previous session. The buying and selling difference was 1.4 million VND.

Gold price statistics of Dragon Viet Online Service Joint Stock Company VDOS - Updated at 10:30 a.m. on August 7.

The price of SJC 9999 gold ring is 116.8 million VND/tael for buying and 119.3 million VND/tael for selling, remaining unchanged in both directions (buying-selling).

Meanwhile, DOJI gold bar prices in Hanoi and Ho Chi Minh City were bought at VND122.4 million/tael and sold at VND123.8 million/tael, unchanged in both buying and selling prices compared to the previous session.

This brand lists prices gold ring Doji Hung Thinh Vuong 9999 is at 117.5-120 million VND/tael (buy-sell), unchanged in both buying and selling compared to yesterday.

PNJ Gold listed buying price at 117.5 million VND/tael and selling price at 120 million VND/tael, unchanged from the previous session.

As of 10:30 a.m. on August 7 (Vietnam time), the world gold price slightly decreased by 3.9 USD/ounce compared to the previous session to 3,375.5 USD/ounce.

World gold price chart on August 7. (Photo: kitco.com)

World gold prices today tended to decrease slightly after reaching a peak of nearly two weeks due to profit-taking activities of investors. Previously, gold climbed to a high level due to increasing expectations that the US Federal Reserve (FED) would soon lower interest rates.

Another factor dragging gold down is the strengthening US dollar, which makes gold more expensive for buyers using other currencies and reduces the appeal of the precious metal.

In addition, the market is also watching new policy decisions from US President Donald Trump. Mr. Trump said that he will announce the nomination of members of the FED Board of Governors, including the successor of Chairman Jerome Powell, later this week. US President Donald Trump's upcoming monetary policy choices will have a strong impact on gold price trends.

Today, the USD-Index is at 98.14 points; the yield on 10-year US Treasury bonds is currently at 4.230%; US stocks are up; world oil prices are up slightly, trading around 67.44 USD/barrel for Brent oil and 64.95 USD/barrel for WTI oil.

Source: https://baoquangninh.vn/gia-vang-ngay-7-8-trong-nuoc-duy-tri-o-muc-cao-the-gioi-quay-dau-giam-3370430.html