Domestic gold price today 7/8
Early afternoon of August 7 , today's SJC 9999 gold price increased by 50 thousand VND/tael in both buying and selling compared to the morning.
The price of 9999 gold was updated by Saigon Jewelry Company Limited (SJC) at 13:29 as follows:
| Buy | Sell | |
| SJC Hanoi | 66,750,000 VND/tael | 67,370,000 VND/tael |
| SJC HCMC | 66,750,000 VND/tael | 67,350,000 VND/tael |
| SJC Danang | 66,750,000 VND/tael | 67,370,000 VND/tael |
SJC gold price list updated early afternoon August 7
Early morning of August 7 , SJC's 9999 gold price today increased by 100,000 VND/tael in buying price but remained unchanged in selling price compared to the end of last week's trading session.
The price of 9999 gold was updated by Saigon Jewelry Company Limited (SJC) at 8:29 am and the price of 9999 gold was listed by Doji Jewelry Group at 8:51 am as follows:
| Buy | Sell | |
| SJC Hanoi | 66,700,000 VND/tael | 67,320,000 VND/tael |
| SJC HCMC | 66,700,000 VND/tael | 67,300,000 VND/tael |
| SJC Danang | 66,700,000 VND/tael | 67,320,000 VND/tael |
| Doji Hanoi | 66,550,000 VND/tael | 67,300,000 VND/tael |
| Doji HCMC | 66,700,000 VND/tael | 67,200,000 VND/tael |
SJC and DOJI gold price list updated early morning August 7
At the end of the trading session on August 5, the price of 9999 gold bars at SJC Ho Chi Minh City was 66.6 million VND/tael (buy) and 67.3 million VND/tael (sell). SJC Hanoi listed at 66.6 million VND/tael (buy) and 67.32 million VND/tael (sell).
Doji Hanoi listed at 66.55 million VND/tael (buy) and 67.3 million VND/tael (sell). Doji Ho Chi Minh City bought SJC gold at 66.7 million VND/tael and sold at 67.25 million VND/tael.
The central exchange rate on August 7 announced by the State Bank is 23,815 VND/USD, down 10 VND compared to last weekend. The USD price at commercial banks this morning (August 7) was traded around 23,525 VND/USD (buy) and 23,895 VND/USD (sell).
International gold price today 7/8
At 9:12 a.m. today (August 7, Vietnam time), the world spot gold price stood at around 1,940.9 USD/ounce, down 1.1 USD/ounce compared to last night. The price of gold futures for December delivery on the Comex New York floor was at 1,977.5 USD/ounce.
On the morning of August 7 , world gold converted to USD bank price was over 55.9 million VND/tael (excluding tax and fees), about 11.42 million VND/tael lower than domestic gold price.
On the world market, the spot gold price on Kitco floor on August 5 (at 6:00 p.m., Vietnam time) was trading at 1,942 USD/ounce.
According to the US Bureau of Labor Statistics, the non-farm sector added 187,000 jobs in July. However, this figure was lower than the previous forecast of 205,000 jobs. The negative economic and employment information has caused investors to return to buying gold to hedge against capital risks.
Experts say that gold prices still have a chance to increase further. The reason is that the recently released US economic data has weakened, prompting central banks to buy gold to store.
According to the World Gold Council (WGC), central banks and gold trading trusts around the world bought 1,255 tons of gold in the second quarter of 2023, an increase of 7%.
Gold Price Forecast
According to Naeem Aslam, Chief Investment Officer at Zaye Capital Markets, upcoming inflation data will play a key role in shaping market trends in the coming period.
Adam Button, chief currency analyst at Forexlive, is bullish on gold in the short term. He said that if the upcoming US CPI report shows a decline, indicating that inflation is under control, that would boost gold prices.
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