Gold price fell in the first session of the week, SJC gold price lost 500,000 VND/tael

The reason gold prices fell sharply is because after a week of hot growth, investors aggressively took profits, causing the precious metal gold to reverse.

Gold prices fell in the first session of the week, SJC gold price lost 500,000 VND/tael.

Meanwhile, the greenback strengthened late last week and posted a weekly decline as weak economic data prompted traders to adjust expectations for more rate cuts this year and as investors awaited President Donald Trump's nominations to the Federal Reserve. The dollar index (DXY), which measures the greenback's strength against a basket of major currencies, edged up slightly above 98.

This week , markets will be impacted by important measures of inflation and consumer health. Traders will focus on the US CPI report for July, which is expected to show core inflation rising to 0.3% from 0.2% in June. Core inflation is expected to rise 0.2% after remaining unchanged in June, as well as the weekly jobless claims report.

Last week, the market did not have many important economic data released, but precious metal investors still witnessed a series of strong fluctuations coming from unannounced events.

Forecasting gold prices this week, according to the latest survey from Kitco News, industry experts remain optimistic about the outlook for gold prices, while individual investors also maintain expectations that prices will increase in the coming time.

This week, six out of 10 experts surveyed (60%) expect gold prices to continue rising. Only one (10%) expects prices to fall, and three (30%) expect prices to remain stable. In addition, of the 188 retail investors who participated in the online poll, 129 (69%) believe gold prices will rise, 12% (23) expect a fall, and 36 (19%) expect prices to remain stable.

For the domestic gold market, this morning the price of SJC gold bars decreased by 500,000 VND per tael after reaching a peak of over 124 million VND/tael. SJC listed 122.7 - 123.9 million VND/tael (buy-sell) this morning. Gold rings also decreased by 300,000 - 500,000 VND per tael, SJC bought 116.9 million VND, sold 119.5 million VND.

The central exchange rate today (August 11) was slightly increased by 3 VND to 25,231 VND/USD by the State Bank. With a 5% amplitude, the current USD exchange rate that commercial banks are allowed to trade is from 23,969 - 26,493 VND/USD.

This morning , the USD price at many commercial banks remained unchanged. At Vietcombank, the transfer price continued to be 26,040 VND/USD and the selling price was 26,400 VND/USD.

Source: https://baodautu.vn/vang-quay-dau-giam-phien-dau-tuan-gia-vang-sjc-mat-500000-dongluong-d355500.html