Domestic gold price today 8/8
Early afternoon of August 8 , today's SJC 9999 gold price decreased by 100 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 15:01 and the price of 9999 gold was listed by Doji Jewelry Group at 13:53 as follows:
| Buy | Sell | |
| SJC Hanoi | 66,650,000 VND/tael | 67,270,000 VND/tael |
| SJC HCMC | 66,650,000 VND/tael | 67,250,000 VND/tael |
| SJC Danang | 66,650,000 VND/tael | 67,270,000 VND/tael |
| Doji Hanoi | 66,600,000 VND/tael | 67,350,000 VND/tael |
| Doji HCMC | 66,750,000 VND/tael | 67,250,000 VND/tael |
SJC and DOJI gold price list updated early afternoon August 8
Early morning of August 8 , SJC's 9999 gold price today decreased by 50 thousand VND/tael in both buying and selling compared to the end of yesterday's trading session.
The price of 9999 gold was updated by Saigon Jewelry Company Limited (SJC) at 8:27 a.m. and the price of 9999 gold was listed by Doji Jewelry Group at 8:43 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 | 66,600,000 VND/tael | 67,350,000 VND/tael |
| Doji HCMC | 66,750,000 VND/tael | 67,250,000 VND/tael |
SJC and DOJI gold price list updated early morning August 8
At the end of the trading session on August 7, the price of 9999 gold bars at SJC Ho Chi Minh City was 66.8 million VND/tael (buy) and 67.4 million VND/tael (sell). SJC Hanoi listed at 66.8 million VND/tael (buy) and 67.42 million VND/tael (sell).
Doji Hanoi listed at 66.6 million VND/tael (buy) and 67.35 million VND/tael (sell). Doji Ho Chi Minh City bought SJC gold at 66.7 million VND/tael and sold at 67.2 million VND/tael.
The central exchange rate on August 8 announced by the State Bank is 23,802 VND/USD, down 13 VND compared to yesterday. The USD price at commercial banks this morning (August 8) was traded around 23,520 VND/USD (buy) and 23,890 VND/USD (sell).
International gold price today 8/8
At 9:08 a.m. today (August 8, Vietnam time) , the world spot gold price stood at around 1,931.3 USD/ounce, down 2.2 USD/ounce compared to last night. The price of gold futures for December delivery on the Comex New York floor was at 1,966.7 USD/ounce.
On the morning of August 8 , world gold converted to USD bank price was over 55.6 million VND/tael (excluding tax and fees), about 11.77 million VND/tael lower than domestic gold price.
On the world market, the spot gold price on Kitco on August 7 (at 7:00 p.m., Vietnam time) was trading at 1,934.5 USD/ounce.
Marc Chandler, CEO of Bannockburn Global Forex, said that last week, gold prices turned around after hitting a very low of $1,926/ounce. This is a positive signal that paves the way for the next price increase of gold.
Sharing the same optimistic view, Colin Cieszynski, an expert from SIA Wealth Management, said that technically, if gold holds its current level, the precious metal is likely to increase in the near future.
Adam Button, chief currency analyst at Forexlive, said the US job market is cooling down, which further confirms that the US Federal Reserve (Fed) will be more lenient in raising interest rates. Adam Button is also optimistic that the Fed has only one decision at the moment: to cut interest rates.
However, Mr. Adam Button assessed that gold is at a fairly high level of about 1,940 USD/ounce. Therefore, investors should observe the market before deciding to buy. The Fed's decision to increase interest rates may take place early next year.
Gold Price Forecast
Kitco News' market survey shows that 53% of analysts choose gold prices to increase in the coming time, 40% think gold prices will go sideways, and the remaining 7% predict a decrease.
Analysts note that the precious metal still faces some headwinds as economic data does not provide solid evidence that the Fed may ease monetary policy further.
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