The world gold price today (August 7) continued to fall below the 2,400 USD mark in the context of the world stock market "plunging". Domestically, the price of SJC gold bars remained unchanged after a sharp drop yesterday, trading at 79 million VND/tael; SJC gold rings continued to fall to 77.3 million VND/tael.
In the domestic market, this morning, August 7, gold brands kept the price of SJC gold bars unchanged after yesterday's sharp drop.
Gold rings of domestic brands continue to adjust down according to world prices.
At 9:30 a.m. on August 7, DOJI gold bar prices in Hanoi and Ho Chi Minh City were listed at VND77 million/tael for buying and VND79 million/tael for selling, unchanged from the previous session.
This brand listed the buying and selling price of Doji Hung Thinh Vuong 9999 gold ring at 76.1-77.3 million VND/tael, down 100,000 VND compared to the closing price last week.
Saigon Jewelry Company listed SJC gold bar price The buying and selling prices were at 77-79 million VND/tael, unchanged from the previous session's close. Meanwhile, the price of SJC 9999 ring gold was traded at 75.8 million VND/tael for buying and 77.3 million VND/tael for selling, down 350,000 VND and 150,000 VND respectively compared to the previous session's close.
PNJ gold bought at 76 million VND/tael and sold at 77.29 million VND/tael, down 200,000 VND and 160,000 VND respectively compared to the previous session.
As of 9:30 a.m. August 7 (Vietnam time), gold price World gold prices continued to fall by 27.3 USD compared to the previous session to 2,383.1 USD/ounce.
World gold prices continued to fall for the fourth consecutive session this morning after a sharp increase last week due to the continued selling pressure from investors. At the same time, the recovery of the USD and rising bond yields were also reasons for the decline in gold prices.
Gold is facing short-term pressure amid volatile equity markets, with Asian and European stocks falling sharply and US stocks also plunging, said Rhona O'Connell, chief market analyst at StoneX Bullion.
“Gold followed risk assets lower in the short term but the precious metal will recover and return above the support level of $2,400/ounce,” the female expert commented.
Ms. Rhona O'Connell also said that the overall outlook for precious metals is positive due to persistent economic and political uncertainties as well as expectations of a Fed rate cut.
This morning, the USD-Index increased to 103.25 points; the yield on 10-year US Treasury bonds is currently at 3.903%; US stocks are green again after a "plunging" session; oil prices are stable at 76.52 USD/barrel for Brent oil and 73.3 USD/barrel for WTI oil.
Source: https://baolangson.vn/gia-vang-ngay-7-8-vang-mieng-dung-yen-vang-nhan-giam-theo-gia-the-gioi-5017590.html
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