Gold prices today, August 1, 2024, recorded a continued increase in the world , boosted by a weak USD as traders waited for more signals about interest rate cuts from the Fed. Ring gold prices also fluctuated constantly according to the developments of world gold.
LIVE UPDATE TABLE OF GOLD PRICE TODAY 1/8 and EXCHANGE RATE TODAY 1/8
| 1. SJC - Updated: 07/31/2024 08:21 - Website time of supply source - ▼ / ▲ Compared to yesterday. | ||
| Type | Buy | Sell |
| SJC 1L, 10L, 1KG | 77,000 | 79,000 |
| SJC 5c | 77,000 | 79,020 |
| SJC 2c, 1c, 5c | 77,000 | 79,030 |
| SJC 99.99 gold ring 1 chi, 2 chi, 5 chi | 75,950 ▲350K | 77,300 ▲300K |
| SJC 99.99 gold ring 0.3 chi, 0.5 chi | 75,950 ▲350K | 77,400 ▲300K |
| Jewelry 99.99% | 75,800 ▲300K | 76,800 ▲300K |
| Jewelry 99% | 74,040 ▲297K | 76,040 ▲297K |
| Jewelry 68% | 49,879 ▲204K | 52,379 ▲204K |
| Jewelry 41.7% | 29,679 ▲125K | 32,179 ▲125K |
Update gold price today 1/8/2024
World gold prices jumped strongly after the market received some new data on the US economy in the context of the US Federal Reserve (Fed) meeting.
Specifically, the Conference Board said that the US Consumer Confidence Index improved in July, increasing from 97.8 points in June to 100.3 points in July.
The US job openings index also improved to 8.18 from 8.03, beating expectations. The Expectations Index - based on consumers' short-term expectations for income, business and labor market conditions - improved to 78.2 in July but remained below forecasts.
Meanwhile, the Fed is almost certain to keep interest rates unchanged at its policy meeting this week.
According to TG&VN at 7:00 p.m. on July 31, world gold prices continued to increase, boosted by the weak USD as traders waited for further signals of interest rate cuts from the Fed.
The precious metal also benefited from safe-haven buying after reports that Hamas leader Ismail Haniyeh was assassinated in a strike, suggesting a potential escalation of conflict in the Middle East.
Specifically, the world gold price on Kitco News was at 2,419.9 - 2,420.9 USD/ounce, up 8.6 USD compared to the previous trading session.
Domestic SJC gold price remains unchanged at 77.0 - 79.0 million VND/tael (buy-sell) while ring gold price continues to fluctuate according to world gold price movements.
Bao Tin Minh Chau gold ring brand of Rong Thang Long gold is anchored at 75.98 million VND/tael (buy) and 77.18 million VND/tael (sell), up 150,000 VND/tael in both directions.
Meanwhile, at Phu Quy, round rings were anchored at 76 million VND/tael (buy) and 77.3 million VND/tael (sell) - an increase of 300,000 VND/tael in both directions.
Recently, the State Bank of Vietnam, Ho Chi Minh City branch, issued Document No. 2528/HCM-QLNHV dated July 29, 2024 to enterprises operating in the production of gold jewelry and fine arts in the city to clearly define the responsibilities of enterprises operating in the production of gold jewelry and fine arts.
Previously, the Ho Chi Minh City People's Committee established a working group to ensure gold market security in the city to collect and analyze information on the buying and selling situation, as well as inspect and examine establishments trading in gold bars and jewelry production and trading.
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| Gold price today February 10. (Source: Getty) |
Summary of SJC gold prices at major domestic trading brands at the closing time of July 31:
Saigon Jewelry Company listed at 77.00 - 79.00 million VND/tael.
Doji Group is currently listed at 77.00 - 79.00 million VND/tael.
PNJ system listed at 76.00 - 77.29 million VND/tael.
Phu Quy Gold and Silver Group listed at 77.10 - 79.00 million VND/tael.
SJC gold bar price at Bao Tin Minh Chau is listed at 77.00 - 79.00 million VND/tael.
Investors continue to look to gold bars
The World Gold Council (WGC) report on gold demand trends for the second quarter of 2024 showed that total global gold demand increased by 4% year-on-year to 1,258 tons, marking the strongest second quarter increase according to the organization's data.
Mr. Shaokai Fan, director of Asia-Pacific region (excluding China) and director of global central banking at WGC, commented that global gold investment remained stable, increasing slightly compared to the same period last year, to 254 tons.
“Gold demand from the ASEAN countries that we track separately in the gold demand trend remains positive: all are up year-on-year, partly due to currency depreciation,” he stressed.
In Vietnam, a report from the WGC shows that investors continue to seek gold bars and coins as a safe storage channel to cope with rising inflation, falling domestic currency, and poor performance of domestic stock and real estate markets.
As a result, demand for gold bars and coins in Vietnam in the second quarter increased by 30% compared to the same period in 2023, reaching 12 tons. Total demand for gold bars and coins in the first half of 2024 reached 26 tons, the highest level since 2014.
However, demand for gold jewelry in Vietnam in the second quarter decreased by 15% compared to the same period last year, down to only 3 tons.
In the first half of this year, demand for gold jewelry in Vietnam dropped to just over 7 tons, the lowest level in the first half of the year since 2020.
Source: https://baoquocte.vn/gia-vang-hom-nay-182024-gia-vang-nhan-day-song-tro-lai-vang-trang-suc-bot-nong-the-gioi-nhon-nhip-280767.html
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