At around 6:00 a.m. on August 8, the gold price was trading at 2,384 USD/ounce, down slightly by 6 USD compared to the same time the previous day.

The international gold market weakened as the World Gold Council reported that the People's Bank of China (PBOC) did not buy the precious metal for the third consecutive month. The PBOC's gold holdings remained at 2,264 tonnes.

This information may have caused investors to limit their gold purchases. Because previously, in May 2024, the PBOC broke an 18-month gold buying streak, shocking the market and causing a strong sell-off.

US bonds have become attractive to investors, putting pressure on gold prices. Specifically, the 10-year bond interest rate increased to 3.96%, stimulating many people to buy bonds. As a result, money flowing into the gold market has been limited. It is understandable that the world gold price has gone down today.

In Vietnam, on August 7, the price of SJC gold remained unchanged at 79 million VND/tael. The price of gold rings produced by SJC and PNJ companies was sold at 77.3 million VND/tael.