Domestic gold prices
On the morning of August 18th, the price of SJC gold bars continued to attract attention by setting a new record, fluctuating around the same level. 123.70 – 124.70 million VND/ounce (Buying and selling prices). Some small shops even list prices up to... 125.5 million VND/ounce, higher than the officially announced level.
Plain gold rings, PNJ gold, DOJI gold, and Bao Tin Minh Chau gold also remained around the same price level. 116.5 – 119.8 million VND/ounceThis indicates stable demand. Despite a slight increase, the gold ring market maintained its sideways trend after a series of upward movements.
World gold prices
On the international market, spot gold is currently at around 3,346 USD/ounceThis represents a slight increase compared to the end of last week's trading session. This development helps the domestic gold market maintain its upward momentum, while investors are still awaiting signals from the US Federal Reserve (Fed) and the upcoming Jackson Hole conference.
Causes of fluctuations
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The demand for gold as a store of value is increasing. while concerned about inflation and geopolitical instability.
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Large difference between domestic and international gold prices. This has led to an increase in speculative sentiment.
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Impact of the US dollar and interest rate policy global.
Outlook and recommendations
According to experts, gold bullion is likely to remain at high levels in the short term, but a correction is possible if the Fed sends strong "hawkish" signals. Investors should exercise caution and avoid chasing prices when they are already at historical peaks.
