Domestic gold ring prices early this morning were adjusted to increase sharply following world gold prices.

Specifically, Saigon Jewelry Company (SJC) listed the price of gold rings of type 1-5 at only 76.6-77.9 million VND/tael (buy - sell), an increase of 300 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 76.65-77.9 million VND/tael (buy - sell), an increase of 250 thousand VND/tael for buying and an increase of 300 thousand VND/tael for selling compared to the closing price of yesterday's trading session.

Early morning of August 13 , SJC 9999 gold price increased by 1.5 million VND/tael in both buying and selling compared to the end of yesterday's trading session, up to 80 million VND/tael (selling).

The price of 9999 gold was updated by Saigon Jewelry Company Limited (SJC) at 8:27 a.m. and the price of 9999 gold was listed by Doji Jewelry Group at 8:34 a.m. as follows:

SJC and Doji gold price list updated early morning August 13

At the end of the session on August 12, the price of 9999 gold bars at SJC was 76.5 million VND/tael (buy) and 78.5 million VND/tael (sell). SJC listed the price of gold rings at 76.3 - 77.6 million VND/tael (buy - sell).

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

The central exchange rate on August 13, 2024 announced by the State Bank is 24,256 VND/USD, unchanged from the previous trading session. The USD price at commercial banks this morning (August 13) was commonly listed at 24,920 VND/USD (buy) and 25,290 VND/USD (sell).

At 8:28 a.m. today (August 13, Vietnam time) , the world spot gold price stood at around 2,463.3 USD/ounce, up 11.3 USD/ounce compared to last night. The price of gold futures for December 2024 on the Comex New York floor was at 2,504.7 USD/ounce.

On the morning of August 13 , the world gold price converted to USD bank price was nearly 75.9 million VND/tael, including tax and fees, about 4.1 million VND/tael lower than the domestic gold price.

The price of gold on the Kitco floor at 9:00 p.m. on August 12 (Vietnam time) was trading at $2,452/ounce, up 0.88% from the beginning of the session. The price of gold futures for delivery in December 2024 on the Comex New York floor was trading at $2,492/ounce.

At the beginning of the trading session in the US market, the world gold price continued to increase from the last session of last week. The report on the number of US unemployment benefit applications released in the middle of last week brought optimism to the stock market and gold.

After a quiet week, the world gold market is about to receive a series of important information that can affect the direction of the precious metal in the short term. Specifically, the producer price index, consumer price index, retail sales in July, weekly unemployment claims, housing starts and building permits in the US in July,...

Marc Chandler, CEO of Bannockburn Global Forex, said the most anticipated piece of information for the market is the July consumer price index, which is likely to be flat compared to the same period last year, which could help the Federal Reserve cut interest rates in September.

Experts predict that gold is a safe asset when risks increase. World gold prices are on an upward trend as the December gold contract price remains at $2,470/ounce.

The financial market is fraught with risks as major economies such as the US and China have not yet grown stably, making gold more attractive than other investment channels.

According to experts, in September, the Fed may loosen monetary policy, the USD will become weaker, which is also an advantage for the gold market.

Along with that, the US presidential election at the end of the year will also end. The world gold price is forecast to increase to a new historical level, surpassing the threshold of 2,500 USD/ounce by the end of the year.