Market on August 19: Gold bars hit new peak

World and domestic gold prices increased. Oil prices tended to increase, affected by the Russia-Ukraine conflict.

Domestic gold price

The brands SJC, PNJ, Bao Tin Minh Chau, DOJI simultaneously increased the price of gold bars by 500,000 VND/tael, listed at 124 - 125 million VND/tael (buy - sell).

Gold price on August 19

Phu Quy SJC buys at 1 million VND/tael lower than the above gold brands, trading at 123 million VND/tael for buying and 125 million VND/tael for selling.

This is a new historical milestone that has just been set. Previously, on August 14, the price of SJC gold bars increased to 124.7 million VND/tael. Since the beginning of this year, the price of SJC gold bars has increased by nearly 40 million VND/tael, equivalent to an increase of nearly 50% in just over 8 months.

The price of gold rings of various brands today increased by 200,000 - 500,000 VND/tael, the highest listed price is 120.2 million VND/tael for sale.

World gold price today

In the world gold market, spot gold price was recorded around 3,335 USD/ounce, slightly increased by about 1.4 USD/ounce compared to the previous session.

World gold price increased slightly

Converted according to Vietcombank exchange rate, the world gold price is equivalent to about 106.7 million VND/tael, 18.3 million VND/tael lower than SJC gold bars. This is a quite high difference between the price of SJC gold bars and the world price.

Gold prices edged up as investors awaited the outcome of US President Donald Trump's meeting with Ukrainian President Volodymyr Zelensky.

In a geopolitical development that could influence gold prices, European and NATO leaders are also at the White House and are expected to join the US President and the Ukrainian President for further discussions later in the day. According to experts, the meetings at the White House will have an impact on gold prices.

However, gold has so far failed to hold firmly above $3,400 an ounce, despite market expectations that the US Federal Reserve will cut interest rates in September, and possibly a second cut by the end of the year. Gold tends to rise in a low-interest-rate environment.

World oil prices

According to Reuters, Brent oil price increased by 75 cents (equivalent to 1.14%), to 66.60 USD/barrel; WTI oil price increased by about 62 cents (equivalent to 0.99%), to 63.42 USD/barrel.

World oil prices tend to go up

Oil prices continue to be affected by the conflict between Russia and Ukraine, as well as discussions between the US and Russia and the US and Ukraine on finding a solution to the conflict. However, Ukraine has recently stepped up its attacks on Russian energy infrastructure. Its drones attacked a target in Russia’s Tambov region, temporarily halting oil supplies through the Kerch Strait, providing some support for oil prices.

Domestic gasoline prices

Domestic retail price of gasoline on August 19

In response to recent developments in world petroleum product prices, the above domestic petroleum retail prices were adjusted by the Ministry of Industry and Trade - Ministry of Finance from the afternoon of August 14. Accordingly, petroleum prices decreased simultaneously. E5RON92 gasoline price decreased by 254 VND/liter, RON95-III gasoline decreased by 190 VND/liter, diesel oil decreased by 723 VND/liter, kerosene decreased by 640 VND/liter, and fuel oil decreased by 379 VND/kg.

In this management period, the Ministry of Industry and Trade - Ministry of Finance decided to continue not to set aside and not to use the petroleum price stabilization fund for E5-RON 92 gasoline, RON95 gasoline, diesel oil, kerosene and fuel oil.

Source: https://htv.com.vn/thi-truong-ngay-19-8-vang-mieng-lap-dinh-moi-222250819075607929.htm