SJC gold increases continuously

Domestic gold price today August 15

Early afternoon of August 15, today's SJC 9999 gold price increased by 150 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 14:05 as follows:

	Buy	Sell
SJC Hanoi	67,050,000 VND/tael	67,670,000 VND/tael
SJC HCMC	67,050,000 VND/tael	67,650,000 VND/tael
SJC Danang	67,050,000 VND/tael	67,670,000 VND/tael

SJC gold price list updated early afternoon August 15

Early morning of August 15 , SJC 9999 gold price today remained unchanged compared to yesterday's closing price.

The price of 9999 gold was updated by Saigon Jewelry Company Limited (SJC) at 8:49 a.m. and the price of 9999 gold was listed by Doji Jewelry Group at 8:40 a.m. as follows:

	Buy	Sell
SJC Hanoi	66,900,000 VND/tael	67,520,000 VND/tael
SJC HCMC	66,900,000 VND/tael	67,500,000 VND/tael
SJC Danang	66,900,000 VND/tael	67,520,000 VND/tael
Doji Hanoi	66,850,000 VND/tael	67,600,000 VND/tael
Doji HCMC	66,950,000 VND/tael	67,450,000 VND/tael

SJC and DOJI gold price list updated early morning August 15

At the end of the trading session on August 14, the price of 9999 gold bars at SJC Ho Chi Minh City was 66.9 million VND/tael (buy) and 67.5 million VND/tael (sell). SJC Hanoi listed at 66.9 million VND/tael (buy) and 67.52 million VND/tael (sell).

Doji Hanoi listed at 66.85 million VND/tael (buy) and 67.6 million VND/tael (sell). Doji Ho Chi Minh City bought SJC gold at 66.95 million VND/tael and sold at 67.45 million VND/tael.

The central exchange rate on August 15 announced by the State Bank was 23,881 VND/USD, an increase of 33 VND compared to yesterday. The USD price at commercial banks this morning (August 15) was traded around 23,620 VND/USD (buy) and 23,990 VND/USD (sell).

*Interest rates not falling makes gold less attractive. (Photo: Kitco)*

International gold price today August 15

At 9:00 a.m. today (August 15, Vietnam time), the world spot gold price stood at around 1,906 USD/ounce, up 3.1 USD/ounce compared to last night. The price of gold futures for December delivery on the Comex New York floor was at 1,938.1 USD/ounce.

On the morning of August 15 , world gold converted to USD bank price was over 55.12 million VND/tael (excluding tax and fees), about 12.4 million VND/tael lower than domestic gold price.

Fluctuations in international gold prices in the past 24 hours (Photo: Kitco)

On the world market, the spot gold price on Kitco floor on August 14 (at 9:00 p.m., Vietnam time) was trading at 1,902.9 USD/ounce.

Last week, the US announced that the consumer price index (CPI) and the July employment report both fell. At that time, the gold market predicted that the US Federal Reserve (Fed) would continue to maintain the current high interest rates until the end of the first quarter of 2024.

Interest rates have not decreased, causing investors to continue to withdraw capital from gold and shift to other areas such as bonds and stocks. Therefore, gold prices are likely to continue to decrease in the short term.

The yield on 10-year US government bonds increased continuously last week, from 4% to 4.138%/year, making gold less attractive.

In addition, the world's second largest economy, China, has just introduced a series of new policies to boost the economy, such as policies to attract foreign investment, policies to promote trade and investment. When the two largest economies in the world, the US and China, both grow again, gold will lose its appeal.

Gold Price Forecast

Experts recommend that investors should be cautious and wait for more certain economic information to decide whether to invest or withdraw from gold.

According to analysts, the important support price in the December gold futures contract is in the range of 1,940 - 1,950 USD/ounce.

Michael Moore, founder of Moore Analytics, said gold prices will rise again unless there is a breakthrough to the threshold of 1,955.3 USD/ounce.

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