Gold price today August 21: Unexpected increase, setting a new record

On the morning of August 21, the price of gold bars at Saigon Jewelry Company - SJC increased by 600,000 VND per tael, bringing the buying price to 124.4 million VND, and the selling price to 125.4 million VND. Most jewelry companies also announced the buying and selling price of gold bars at the same price as SJC Company. This is a new record price for gold bars.

Similarly, SJC Company increased the price of 4-number 9 gold rings by 500,000 VND, bringing the buying price to 117.3 million VND, selling price to 119.8 million VND; Phu Nhuan Jewelry Company (PNJ) bought at 117 million VND, selling price to 120 million VND; Doji Group bought at 117.3 million VND, selling price to 120.3 million VND...

Gold price on the morning of August 21 increased shockingly, setting a new record. PHOTO: NGOC THANG

The difference between the buying and selling price of gold bars at SJC continues to be maintained at 1 million VND per tael while that of gold rings is 2.5 million VND. The companies alone keep the difference between buying and selling gold rings at 3 - 3.2 million VND, causing buyers to suffer huge losses despite the record increase in gold prices.

The world gold price rose again to $3,341/ounce, $27 higher than yesterday. The decline in the USD helped the precious metal rise. Yesterday, the minutes of the US Federal Reserve's July meeting were released, showing that two officials opposed the decision to keep interest rates unchanged, Vice President for Supervision Michelle Bowman and Governor Christopher Waller. However, according to some analysts, the market is not paying much attention to this information because it is considered old. Investors are still waiting for the speech of Fed Chairman Jerome Powell at the annual economic symposium Jackson Hole.

Speaking on CNBC, Mr. Bob Haberkorn, market strategist at RJO Futures, predicted that if the Fed Chairman expressed a dovish stance on monetary policy, this would be a positive signal for gold. Meanwhile, US President Donald Trump yesterday called for the resignation of Fed Governor Lisa Cook. The US President has always criticized the Fed for not cutting interest rates. Normally, if the US lowers interest rates, gold prices will increase./.

According to Thanh Nien Newspaper

Source: https://thanhnien.vn/gia-vang-hom-nay-2182025-bat-ngo-tang-soc-lap-ky-luc-moi-185250821072321993.htm

Source: https://baolongan.vn/gia-vang-hom-nay-21-8-bat-ngo-tang-soc-lap-ky-luc-moi-a201084.html