At the end of the trading session on August 12, the price of SJC gold bars was listed by businesses at 122.7-123.9 million VND/tael (buy - sell), unchanged from the previous price. Compared to the record price of 124.4 million VND/tael at the beginning of the week, the selling price of gold bars has decreased by 500,000 VND.
The price of gold rings is listed at 116.5-119 million VND/tael (buy - sell), down 400,000 VND in both buying and selling.
In the world , today's gold price (Vietnam time) is traded around 3,345 USD/ounce, up 2 USD compared to before. Converted at the exchange rate excluding taxes and fees, the world gold price is equivalent to 106.6 million VND/tael. Compared to the price from the beginning of the year, the world price of precious metals has increased by 28%.
Gold price lost record level of over 124 million VND/tael (Photo: Manh Quan).
Gold prices fell slightly but quickly recovered amid the inflation report. Earlier, gold prices fluctuated strongly when US President Donald Trump announced that imported gold would not be subject to tariffs and extended a 90-day moratorium on increasing tariffs on Chinese goods until early November.
According to experts, this move helps cool down the risk of a trade conflict outbreak and creates more time for negotiations between the world's two largest economies .
Analysts warn that gold prices could remain volatile this week as investors await more clarity on the US’ long-term tax policy. If the tax exemption is confirmed, the gold market could stabilize, but any mixed signals could trigger new corrections.
In her monthly gold report, Ewa Manthey, commodity strategist at ING Group, raised her price forecasts as the U.S. labor market slows and inflation pressures persist. She said gold prices will average $3,400 an ounce in the third quarter and $3,450 in the fourth quarter, up from her previous forecast of $3,200 for both quarters.
The CME FedWatch Tool shows that the market is pricing in a 90% chance of a Fed rate cut as early as next month and a 50/50 chance of three cuts this year. Concerns about the Fed’s independence could continue to fuel safe-haven demand for gold, Manthey said.
Central rate continues to increase
The USD Index - a measure of the strength of the USD against six major currencies (EUR, JPY, GBP, CAD, SEK, CHF) has reversed its downward trend after increasing continuously in recent sessions. Currently, the index is fluctuating around 98.04 points, down 0.06% compared to the previous session.
The State Bank announced the central exchange rate at 25,243 VND yesterday, up 12 VND from the previous session. With a 5% margin compared to the central exchange rate, commercial banks are allowed to buy and sell USD in the range of 23,982 - 26,504 VND.
Major banks listed the exchange rate at 26,060-26,450 VND (buy - sell), up 50 VND in both buying and selling directions. At the group of private commercial banks, units listed the greenback trading price at 26,060-26,440 VND/USD (buy - sell), up 40 VND in both directions.
In the market, foreign exchange points accept USD transactions at 26,420-26,480 VND (buy - sell), down 20 VND for buying and up 30 VND for selling compared to before.
Source: https://dantri.com.vn/kinh-doanh/gia-vang-mat-moc-ky-luc-20250813081956623.htm
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