The international gold market fluctuated strongly as the political and military situation between Israel and Iran continued to be tense. Accordingly, financial investors increased their gold purchases to preserve capital. Today's gold price has the conditions to increase.

On the other hand, the US reported a sharp drop in weekly initial jobless claims compared to forecasts, which eased investors' concerns about a recession in the world's largest economy.

Since then, the market has increased expectations that the US will cut interest rates significantly in September, which could cause the USD to depreciate, benefiting gold prices.

Therefore, in the trading session last night, gold speculators bought heavily. The world gold price today at 6:00 a.m. on August 9 was up to 2,425 USD/ounce, an increase of 40 USD compared to the same time the previous day at 2,385 USD/ounce.

Previously in Vietnam, the price of SJC gold dropped sharply by 500,000 VND/tael to 78.5 million VND/tael. The price of gold rings produced by SJC and PNJ companies was sold at 77.3 million VND/tael.