Domestic gold price today August 14
Early morning of August 14 , SJC's 9999 gold price today decreased by 50 thousand VND/tael for buying and 150 thousand VND/tael for selling compared to the end of last week's trading session.
The price of 9999 gold was updated by Saigon Jewelry Company Limited (SJC) at 9:04 a.m. and the price of 9999 gold was listed by Doji Jewelry Group at 9:05 a.m. 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 |
| Doji Hanoi | 66,800,000 VND/tael | 67,500,000 VND/tael |
| Doji HCMC | 66,850,000 VND/tael | 67,350,000 VND/tael |
SJC and DOJI gold price list updated early morning August 14
At the end of the trading session on August 12, the price of 9999 gold bars at SJC Ho Chi Minh City was 66.8 million VND/tael (buy) and 67.5 million VND/tael (sell). SJC Hanoi listed at 66.8 million VND/tael (buy) and 67.52 million VND/tael (sell).
Doji Hanoi listed at 66.8 million VND/tael (buy) and 67.5 million VND/tael (sell). Doji Ho Chi Minh City bought SJC gold at 66.85 million VND/tael and sold at 67.35 million VND/tael.
The central exchange rate on August 14 announced by the State Bank was 23,848 VND/USD, an increase of 11 VND compared to the end of last week. The USD price at commercial banks this morning (August 14) was traded around 23,560 VND/USD (buy) and 23,930 VND/USD (sell).
International gold price today August 14
At 9:21 a.m. today (August 14, Vietnam time), the world spot gold price stood at around 1,911.3 USD/ounce, down 2.7 USD/ounce compared to the end of last week. The price of gold futures for December delivery on the Comex New York floor was at 1,942.6 USD/ounce.
On the morning of August 14 , world gold converted to USD bank price was nearly 55.14 million VND/tael (excluding tax and fees), about 12.23 million VND/tael lower than domestic gold price.
On the world market, the spot gold price on Kitco floor on August 12 (at 2:00 p.m., Vietnam time) was trading at 1,913 USD/ounce.
In the context of US economic data not being able to support the Federal Reserve (Fed) to make a decision to stop raising interest rates, experts say that the gold market may be stuck for the rest of the summer.
However, analysts note that gold's short-term decline should be viewed as a buying opportunity as the precious metal awaits a stronger and longer-term recovery.
“Gold has a lot of competition as a safe-haven asset as the US economy is increasingly expected to deliver on the Fed’s rate cut expectations,” said Edward Moya, senior market analyst at OANDA. “Gold is still attracting long-term interest.”
Ole Hansen, head of commodity strategy at Saxo Bank, also sees gold struggling as the cost of holding the precious metal continues to rise. He added that investors are frustrated with holding gold and are increasingly buying stocks.
According to analysts, the gold market will still focus on economic data as the Fed has emphasized that future decisions on interest rates by the US central bank will depend on these data. Therefore, the issue of interest to traders and investors is whether the upcoming economic data will provide any clear clues for gold.
Gold Price Forecast
Thirteen Wall Street analysts participated in the Kitco News gold survey last week. Of those, 31% said gold prices would rise in the near term, while 31% said they would fall. The remaining 38% said gold prices would remain flat.
Meanwhile, 573 votes were cast in online polls. Of these, 320 respondents, or 56%, said that gold prices will rise in the coming period. Another 155, or 27%, predicted that gold prices will fall, while the remaining 98, or 17%, said that gold prices will remain flat in the coming period.
Source
Comment (0)