Rising, unexpected forecast

Gold price update morning of August 26: Rising rapidly, unexpected forecast — Illustration: Hai Nguyen

SJC gold bar price

Price of SJC gold bars early morning August 26. Unit: Million VND/tael.

9999 gold ring price

As of 6:00 a.m., the price of 9999 Hung Thinh Vuong round gold rings at DOJI was listed at 77.20 - 78.40 million VND/tael (buy - sell).

Saigon Jewelry Company listed the price of gold rings at 77.1 - 78.4 million VND/tael (buy - sell).

In recent sessions, the price of gold rings has often fluctuated in the same direction as the world market. Investors can refer to the world market and expert opinions before making investment decisions.

World gold price

As of 6:00 a.m. on August 26, the world gold price listed on Kitco was at 2,512 USD/ounce.

Gold Price Forecast

World gold prices increased amid a decrease in the USD index. Recorded at 6:00 a.m. on August 26, the US Dollar Index, which measures the greenback's fluctuations against six major currencies, was at 100.61 points (down 0.78%).

Gold is set to rise further and there is nothing that can stop the precious metal's rise, said Adam Button, head of currency strategy at Forexlive.com.

Bannockburn Global Forex CEO Marc Chandler believes that gold has entered a correction phase after hitting a historic high this week. "The US dollar and US government bond yields could rise next week, putting pressure on the precious metal. Support levels could be in the range of $2,460-2,470 an ounce," he predicted.

On the contrary, Darin Newsom - senior market analyst at Barchart.com - said that gold prices tend to decrease in the coming days.

Kevin Grady, president of Phoenix Futures and Options, said the gold market is focused on the expected interest rate cut by the US Federal Reserve (FED) and this could be a new opportunity for gold prices to increase. "I think new highs are ahead for gold," Adam Button emphasized.

This week, 12 analysts participated in the Kitco News gold survey, with a majority of them predicting higher prices. Seven analysts expect gold prices to rise this week. Meanwhile, two analysts forecast a decline. The remaining three analysts see the precious metal falling sideways.

There were 225 votes cast in Kitco’s online poll. 146 traders expect gold prices to rise this week. Another 41 expect the yellow metal to trade lower, while 38 respondents see prices consolidating this week.

Gold price movements this week. Source: Kitco

This week, the US economy will receive many important figures that can affect precious metals. These are the Personal Consumer Expenditures Price Index (PCE) for July - the Federal Reserve's preferred inflation measure, US GDP in the second quarter...

Several senior Fed officials, such as Christopher Waller and Raphael Bostic, will deliver speeches that investors are interested in.

Source: https://laodong.vn/tien-te-dau-tu/cap-nhat-gia-vang-sang-268-hung-huc-tang-du-bao-bat-ngo-1384671.ldo