Today, the price of gold in the world market increased by $44 per ounce.
At approximately 6:00 AM on August 13th, the price of gold in the world market was trading at $2,474 per ounce, a sharp increase of $44 compared to the opening price of $2,430 per ounce the previous day.
Jim Wycoff, a senior analyst at Kitco Metals, noted that global gold prices are surging amid increased demand for the precious metal as a safe haven, and rising crude oil prices due to escalating geopolitical tensions in the Middle East.
Another development is that the market is awaiting the release of the US Producer Price Index (PPI) and Consumer Price Index (CPI) to gain a clearer understanding of inflation trends.
Currently, the market forecasts both PPI and CPI to increase by 0.2% compared to the previous month. This data has led financial investors to expect the US to cut interest rates by 0.5 percentage points in September 2024. This would cause the US dollar to depreciate sharply, benefiting the gold market.
Therefore, at this time, many people have increased their gold purchases in the hope of profiting in the future. The sharp increase in gold prices worldwide today is understandable.
Previously, in Vietnam, the price of SJC gold remained unchanged at 78.5 million VND/ounce on August 12th. The price of gold rings produced and sold by SJC and PNJ companies was 77.6 million VND/ounce.
Source: https://nld.com.vn/gia-vang-hom-nay-13-8-tang-du-doi-196240813064600244.htm
