Gold ring price continues to set new price increase record

At the time of survey at 3:00 p.m. on August 27, 2024, the gold price on the trading floors of some companies was as follows:

The price of 9999 gold today is listed by DOJI at 79.0 million VND/tael for buying and 81.0 million VND/tael for selling.

At Mi Hong Jewelry Company, the price of Mi Hong gold at the time of survey was listed at 80.0-81.0 million VND/tael (buy - sell).

SJC gold price at Bao Tin Minh Chau Company Limited is also traded by the enterprise at 79.0-81.0 million VND/tael (buy in - sell out). Meanwhile, at Bao Tin Manh Hai, it is being traded at 79.0-81.0 million VND/tael (buy in - sell out).

Gold price this afternoon August 27, 2024. Illustration photo

Saigon Jewelry Company (SJC) listed the price of gold rings at 77.3 - 78.55 million VND/tael (buy - sell), keeping the listed price for both buying and selling unchanged compared to yesterday's closing price.

DOJI Gold and Gemstone Group listed the price of gold rings at 77.35 - 78.55 million VND/tael (buy - sell).

Gold futures continued to rise to a new record high after a keynote speech by US Federal Reserve Chairman Jerome Powell at the Jackson Hole, Wyoming, economic symposium. The speech, which signaled a shift in monetary policy, sent ripples through many financial sectors, including precious metals and US stocks.

Chairman Powell's statement that "it is time for policy to adjust" marked a significant shift in the Federal Reserve's approach. He noted that inflation had fallen closer to the Fed's 2% target while expressing concern about the state of the labor market.

Although no specific timeline was given, market expectations for a rate cut at the upcoming Federal Open Market Committee (FOMC) meeting on September 18-19 are high.

The financial world has interpreted Powell's comments as a clear sign that the Fed is prepared to begin a rate cut. Although no specific timeline was given, the market is highly expecting a rate cut at the upcoming Federal Open Market Committee (FOMC) meeting (September 18-19). The CME FedWatch tool currently indicates a 71.5% probability of a 0.25% cut and a 28.5% chance of a 0.5% cut.

Source: https://congthuong.vn/gia-vang-hom-nay-2782024-gia-vang-nhan-tiep-tuc-lap-ky-luc-tang-gia-moi-341788.html