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), unchanged compared to the end of yesterday's trading session.

Doji Gold and Gemstone Group listed the price of 9999 round gold rings at 76.35-77.6 million VND/tael (buy - sell), unchanged from the closing price of yesterday's trading session.

Early morning of August 12 , SJC's 9999 gold price remained unchanged compared to the end of last week's trading session, at 78.5 million VND/tael (selling).

The price of 9999 gold was updated by Saigon Jewelry Company Limited (SJC) at 8:06 a.m. and the price of 9999 gold was listed by Doji Jewelry Group at 8:29 a.m. as follows:

SJC and Doji gold price list updated early morning August 12

At the end of last week's session (August 10), 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).

Meanwhile, SJC listed the price of gold rings of type 1-5 at only 76.25-77.6 million VND/tael (buy - sell), while the price of Doji's 9999 round gold rings was at 76.35-77.6 million VND/tael.

The central exchange rate on August 12, 2024 announced by the State Bank is 24,256 VND/USD, down 4 VND compared to the previous trading session. The USD price at commercial banks this morning (August 12) was commonly listed at 25,010 VND/USD (buy) and 25,380 VND/USD (sell).

At 8:28 a.m. today (August 12, Vietnam time) , the world spot gold price stood at around 2,428.6 USD/ounce, down 1.4 USD/ounce compared to the end of last week. The price of gold futures for December 2024 on the Comex New York floor was at 2,467.4 USD/ounce.

On the morning of August 12 , the world gold price converted to USD bank price was over 75 million VND/tael, including tax and fees, about 3.5 million VND/tael lower than the domestic gold price.

Gold prices on the Kitco floor closed the trading week at $2,430/ounce. Gold futures for December 2024 traded at $2,470/ounce.

The US Dollar Index (DXY), which measures the greenback's movements against six major currencies (EUR, JPY, GBP, CAD, SEK, CHF) stood at 102.97 points.

The latest Kitco News weekly gold survey shows that most industry experts see gold prices moving sideways, while a majority of retail traders expect prices to rise.

Markets this week are focused on a number of notable economic releases, including July PPI, July CPI, July retail sales and weekly jobless claims, the University of Michigan's preliminary consumer sentiment survey for August,...

The market is now focused entirely on the prospect of a September interest rate cut from the US Federal Reserve (Fed). Gold investors will be paying close attention to the Fed's speaker lineup this week.

The Kitco News Wall Street Gold Survey found that experts see gold prices holding steady this week, with 60% calling for a sideways trend. The remaining 40% see gold prices rising. In an online Main Street poll, 62% of retailers see gold prices rising, while 21% see prices falling.

James Stanley, senior market strategist at Forex, said that gold prices will rise. Gold investors are still in control. After the price of gold fell, buying orders immediately increased sharply. The market is ready to wait for the opportunity for gold to break above $ 2,500 / ounce.

Sean Lusk, director of commercial hedging at Walsh Trading, said the gold market changes so quickly that it is difficult for traders to predict the direction.

Lusk expects gold prices to rise higher by year-end. The next target for gold prices is the $2,580-2,585/ounce range.