Domestic gold price today August 5
Early morning of August 5 , SJC's 9999 gold price today remained unchanged at buying price but increased by 100 thousand VND/tael at selling price compared to the end of yesterday's trading session.
The price of 9999 gold was updated by Saigon Jewelry Company Limited (SJC) at 8:37 a.m. and the price of 9999 gold was listed by Doji Jewelry Group at 8:41 a.m. as follows:
| Buy | Sell | |
| SJC Hanoi | 66,600,000 VND/tael | 67,320,000 VND/tael |
| SJC HCMC | 66,600,000 VND/tael | 67,300,000 VND/tael |
| SJC Danang | 66,600,000 VND/tael | 67,320,000 VND/tael |
| Doji Hanoi | 66,550,000 VND/tael | 67,300,000 VND/tael |
| Doji HCMC | 66,700,000 VND/tael | 67,250,000 VND/tael |
SJC and DOJI gold price list updated early morning August 5
At the end of the trading session on August 4, the price of 9999 gold bars at SJC Ho Chi Minh City was 66.6 million VND/tael (buy) and 67.2 million VND/tael (sell). SJC Hanoi listed at 66.6 million VND/tael (buy) and 67.22 million VND/tael (sell).
Doji Hanoi listed at 66.55 million VND/tael (buy) and 67.3 million VND/tael (sell). Doji Ho Chi Minh City bought SJC gold at 66.65 million VND/tael and sold at 67.15 million VND/tael.
The central exchange rate on August 4 announced by the State Bank is 23,825 VND/USD. The USD price at commercial banks this morning (August 5) was traded around 23,520 VND/USD (buy) and 23,890 VND/USD (sell).
International gold price today 5/8
At 9:13 a.m. today (August 5, Vietnam time), the world spot gold price stood at around 1,942.6 USD/ounce, up 0.6 USD/ounce compared to last night. The price of gold futures for December delivery on the Comex New York floor was at 1,976.1 USD/ounce.
On the morning of August 5 , world gold converted to USD bank price was nearly 55.95 million VND/tael (excluding tax and fees), about 11.37 million VND/tael lower than domestic gold price.
On the world market, the spot gold price on Kitco floor on August 4 (at 9:00 p.m., Vietnam time) was trading at 1,942 USD/ounce.
Gold prices are holding at important resistance levels, amid a decline in the US labor market in July and inflationary pressures still present.
According to the Bureau of Labor Statistics, the number of non-farm payrolls in the US increased by 187,000 last month, lower than the market estimate of 205,000. The unemployment rate improved better than expected, falling to 3.5%. The gold market did not react strongly to these disappointing numbers.
Analysts say the gold market may struggle to build a solid rally. Inflation remains a concern, which could prompt the Federal Reserve to raise interest rates after the summer. This will continue to put pressure on gold prices.
Gold Price Forecast
Analysts at ANZ said the Fed’s moves regarding its stance on interest rate adjustments in the coming time could limit the rise of gold. Gold is a safe investment asset chosen by many people during times of economic uncertainty and geopolitical tensions. However, high interest rates have a negative impact on gold.
Kelvin Wong, senior market analyst at financial brokerage Oanda, said the key short-term support level for gold is around $1,925 an ounce. If it falls below this level, gold could hit $1,895 an ounce.
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