International gold price increased slightly, SJC price skyrocketed to nearly 128 million VND/tael

The market now turns to the upcoming US personal consumption expenditure (PCE) index data, a factor that could shape the US Federal Reserve's (Fed) interest rate policy.

Fed Chairman Jerome Powell left open the possibility of a rate cut in September 2025. In his speech, Mr. Powell emphasized the dual risks to the economy when inflation increases while economic activity slows, but he also pointed out that there is still room to loosen monetary policy.

However, rising inflationary pressures could complicate the Fed's monetary policy.

International gold prices increased slightly, SJC price skyrocketed to nearly 128 million VND/tael.

The U.S. dollar index (DXY), which measures the greenback’s strength against a basket of major currencies, also rebounded to 98.5 this morning. The dollar rose from a sharp decline last week after comments from Fed Chairman Jerome Powell boosted expectations for easing next month.

The US dollar has strengthened against a basket of major currencies, making gold, which is priced in US dollars, more expensive for international buyers. Gold prices rose to a near two-week high late last week after Federal Reserve Chairman Jerome Powell signaled that the US central bank could cut interest rates at its meeting next month.

For the domestic gold market, this morning the listed price of SJC gold bars was 126.1-127.7 million VND/tael, about 500,000-600,000 VND/tael higher than yesterday. This is a record high price ever and the difference between domestic SJC gold bars and international prices is about 19 million VND/tael converted according to the exchange rate listed at banks.

Faced with the heat of SJC gold bar prices, financial analysts believe that the management agency will not allow the domestic gold price to be too high and far from the international price of nearly 20 million VND/tael as it is now, which is considered quite inappropriate and risky for domestic gold buyers.

Currently, the Draft Amendment to Decree 24 has mentioned many important issues such as eliminating the monopoly on SJC gold bars, eliminating the monopoly on gold imports... Therefore, analysts believe that if the decree is soon issued and implemented, domestic gold prices can decrease sharply.

This morning (August 26), the central exchange rate between USD and VND announced by the State Bank decreased by 18 VND compared to the previous day, down to 25,273 VND/USD .

Meanwhile, the USD price at commercial banks rebounded after a sharp drop yesterday. Specifically, Vietcombank increased the buying price by 20 VND to 26,140 VND/USD by transfer and sold at 26,500 VND/USD.

Source: https://baodautu.vn/vang-quoc-te-tang-nhe-gia-sjc-tang-vot-len-gan-128-trieu-dongluong-d371149.html