Gold price on August 26: Increased to record high

In today's trading session, gold price Gold bars and rings of domestic brands simultaneously increased by half a million VND per tael, setting the highest price in history. World gold prices also continued to increase after the speech of the Chairman of the US Federal Reserve Jerome Powell last weekend.

Specifically, at 11:30 a.m. on August 26, Saigon Jewelry Company (SJC) listed the buying and selling price of SJC gold bars at 126.1-127.7 million VND/tael, an increase of 500,000 VND per tael for buying and 600,000 VND per tael for selling compared to the previous session. The difference between buying and selling was 1.6 million VND.

The price of SJC 9999 gold ring is 119.6 million VND/tael for buying and 122.1 million VND/tael for selling, an increase of 500 thousand VND/tael in both directions (buying-selling).

Meanwhile, DOJI gold bar price in Hanoi and Ho Chi Minh City was bought at 126.1 million VND/tael and sold at 127.7 million VND/tael, an increase of 500 thousand VND per tael for buying and 600 thousand VND per tael for selling compared to the previous session.

This brand lists prices gold ring Doji Hung Thinh Vuong 9999 is at 119.3-122.3 million VND/tael (buy-sell), up 500 thousand VND/tael in both directions compared to yesterday.

PNJ Gold listed the buying price at 119.6 million VND/tael and the selling price at 122.6 million VND/tael, an increase of 500 thousand VND per tael for buying and 800 thousand VND per tael for selling compared to the previous session.

As of 11:30 a.m. on August 26 (Vietnam time), the world gold price increased by 6.9 USD/ounce compared to the previous session's close to 3,371.9 USD/ounce.

The precious metals market maintained a relatively stable upward momentum after the speech of Fed Chairman Jerome Powell at the annual Economic Policy Symposium held at Jackson Hole last weekend, in which Mr. Powell signaled that the Fed could cut interest rates at its policy meeting in September.

Despite being supported by expectations of low interest rates, gold prices are still under pressure from the strength of the US dollar. A stronger US dollar makes the precious metal more expensive for international investors, reducing demand and narrowing the range of gold's increase today.

According to the latest Kitco survey, all 13 market analysts polled did not have a bearish forecast for this week, with eight (62%) calling for prices to rise and five (38%) remaining neutral.

The online poll also reflected positive sentiment among retail investors. Although optimism has dropped slightly compared to before, the majority still expect gold prices to rise. Specifically, 59% of respondents forecast prices to rise, 18% said they expected prices to fall, and 23% expected prices to remain flat.

Today, the USD-Index is at 98.38 points; the yield on 10-year US Treasury bonds is currently at 4.305%; US stocks are down; world oil prices are trading around 67.93 USD/barrel for Brent oil and 64.48 USD/barrel for WTI oil.

Source: https://baoquangninh.vn/gia-vang-ngay-26-8-tang-len-muc-cao-ky-luc-3373251.html