Domestic gold ring prices were adjusted up slightly early this morning.

Specifically, Saigon Jewelry Company (SJC) listed the price of gold rings of type 1-5 at only 76.25-77.6 million VND/tael (buy - sell), an increase of 100 thousand VND/tael in both buying and selling compared to the end of yesterday's trading session.

Doji Gold and Gemstone Group listed the price of 9999 round smooth gold rings at 76.35-77.6 million VND/tael (buy - sell), also increasing by 100 thousand VND/tael in both buying and selling compared to the closing price of yesterday's trading session.

Early morning of August 10 , SJC 9999 gold price remained unchanged compared to the closing price of yesterday's trading session, at 78.5 million VND/tael (selling).

The price of 9999 gold was updated by Saigon Jewelry Company Limited (SJC) at 8:30 a.m. and the price of 9999 gold was listed by Doji Jewelry Group at 8:44 a.m. as follows:

SJC and Doji gold price list updated early morning August 10

At the end of the session on August 9, the price of 9999 gold bars at SJC was 76.5 million VND/tael (buy) and 78.5 million VND/tael (sell).

Doji listed at 76.5 million VND/tael (buy) and 78.5 million VND/tael (sell).

The central exchange rate on August 10, 2024 announced by the State Bank is 24,260 VND/USD, down 2 VND compared to the previous trading session. The USD price at commercial banks this morning (August 10) was commonly listed at 24,900 VND/USD (buy) and 25,270 VND/USD (sell).

At 8:44 a.m. today (August 10, Vietnam time) , the world spot gold price stood at around 2,430.7 USD/ounce, up 3.7 USD/ounce compared to last night. The price of gold futures for December 2024 on the Comex New York floor was at 2,473.4 USD/ounce.

On the morning of August 10 , the world gold price converted to USD bank price was over 74.7 million VND/tael, including tax and fees, about 3.8 million VND/tael lower than the domestic gold price.

The price of gold on the Kitco floor at 9:00 p.m. (August 9, Vietnam time) was trading at $2,427/ounce. The price of gold futures for December 2024 was trading at $2,467/ounce.

World gold prices rose slightly at the beginning of the trading session in the US. Traders are waiting for important events that will boost daily gold prices, such as geopolitical developments at the end of the week or upcoming US inflation data.

The US Dollar Index (DXY), which measures the greenback's movements against six major currencies (EUR, JPY, GBP, CAD, SEK, CHF), stood at 102.96 points.

The yield on the 2-year Treasury note rose 9.3 basis points to 4.061% and the yield on the 10-year note rose 5.2 basis points to 4.018%. Higher bond yields make gold less attractive.

Financial markets are focusing on the next move by the US Federal Reserve (Fed), with a high possibility of an interest rate cut this year.

According to CME's FedWatch tool, the market predicts a 72% chance of a 50 basis point rate cut in September, up from 70% on August 5.

The outlook for gold remains positive, with gold prices set to rally if the Fed cuts rates, said Alex Ebkarian, CEO of Allegiance Gold.

Tensions in the Middle East continue to fuel the gold market. Gold is considered a safe haven against geopolitical and economic uncertainties.

Fawad Razaqzada, an analyst at Forex, predicts that gold prices could hit $2,500 in the short term.