SJC gold approaches 68 million VND/tael

Domestic gold price today August 23

On the afternoon of August 23 , today's SJC 9999 gold price increased 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 3:00 p.m. as follows:

	Buy	Sell
SJC Hanoi	67,200,000 VND/tael	67,820,000 VND/tael
SJC HCMC	67,200,000 VND/tael	67,800,000 VND/tael
SJC Danang	67,200,000 VND/tael	67,820,000 VND/tael

SJC gold price list updated early afternoon August 23

Early morning of August 23 , SJC gold price 9999 today increased by 50 thousand VND/tael in both buying and selling compared to yesterday's closing price.

The price of 9999 gold was updated by Saigon Jewelry Company Limited (SJC) at 8:28 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	67,100,000 VND/tael	67,720,000 VND/tael
SJC HCMC	67,100,000 VND/tael	67,700,000 VND/tael
SJC Danang	67,100,000 VND/tael	67,720,000 VND/tael
Doji Hanoi	66,950,000 VND/tael	67,750,000 VND/tael
Doji HCMC	67,100,000 VND/tael	67,600,000 VND/tael

SJC and DOJI gold price list updated early morning August 23

At the end of the trading session on August 22, the domestic 9999 gold price was listed by SJC and Doji Gold and Gemstone Group in the following order of buying and selling:

SJC Hanoi: 67,050,000 VND/tael - 67,670,000 VND/tael
Doji Hanoi: 66,900,000 VND/tael - 67,700,000 VND/tael
SJC HCMC: 67,050,000 VND/tael - 67,650,000 VND/tael
Doji HCMC: 67,000,000 VND/tael - 67,600,000 VND/tael

The central exchange rate on August 23 announced by the State Bank was 23,898 VND/USD, an increase of 12 VND compared to yesterday. The USD price at commercial banks this morning (August 23) was traded around 23,720 VND/USD (buy) and 24,090 VND/USD (sell).

International gold price today August 23

At 9:10 a.m. today (August 23, Vietnam time), the world spot gold price stood at around 1,901.5 USD/ounce, up 1.5 USD/ounce compared to last night. The price of gold futures for December delivery on the Comex New York floor was at 1,929.6 USD/ounce.

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

On the night of August 22 (Vietnam time), the world spot gold price stood at around 1,903 USD/ounce. Gold for December delivery on the Comex New York floor was at 1,938 USD/ounce.

The world gold price on the night of August 22 was about 4.3% higher (79 USD/ounce) than at the beginning of 2023. World gold converted to the bank USD price was 55.7 million VND/tael, including taxes and fees, about 11.9 million VND/tael lower than the domestic gold price as of the end of the afternoon session on August 22.

*Gold prices today increased rapidly again. (Photo: KC)*

At the beginning of the trading session on August 22 on the US Comex commodity trading market, gold prices increased sharply, surpassing the threshold of 1,900 USD/ounce after losing this mark in the previous session.

Gold rose again as the USD's rally stalled and US bond yields turned slightly lower.

Analysts say gold prices are showing signs of stabilizing ahead of Federal Reserve Chairman Jerome Powell's speech at the Jackson Hole forum this weekend.

The fall in US bond yields from a 16-year peak also helped push gold prices back up.

Gold prices are showing signs of stabilizing after a sharp decline last month, according to Ole Hansen, chief commodity strategist at Saxo Bank.

Gold Price Forecast

Gold is not expected to break out. According to expert Chris Yates from Acheron Insights, fundamentals, gold contracts, market sentiment and technical signals all indicate that gold will have a period of slack before breaking out.

Yields are nearing their peak but not yet ready to turn sharply lower, according to Chris Yates. Falling interest rates and bond yields could be a story for 2024.

This also means that, in the short term, gold is unlikely to break out.

In addition, a weak Chinese yuan also keeps the US dollar high and negatively impacts gold.

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