Gold prices continued to decline today after the US released very positive inflation data. Specifically, the consumer price index (CPI) in July increased by only 0.2%, in line with forecasts. Inflation over the past 12 months in the US increased by 2.9%, lower than the forecasted increase of 3%.

This information increased market expectations that the US Federal Reserve (FED) would cut interest rates by 0.5 percentage points in September.

Immediately, international stocks reacted positively. On Wall Street, the Dow Jones index increased by 242 points, the S&P 500 increased by 20 points and the Nasdaq increased by 4 points.

Accordingly, many people have focused their capital on stocks. As a result, the cash flow into precious metals is very small. The world gold price dropped from 2,465 USD to 2,447 USD/ounce at 6:00 AM on August 15.

Previously, in Vietnam, the price of SJC gold on August 14 remained unchanged at 80 million VND/tael. The price of gold rings produced by SJC and PNJ companies was 77.9 million VND/tael.