Gold price today in the world only increased - decreased 5-10 USD/ounce
Last night, investors traded somewhat limitedly, causing the world gold price to only increase or decrease by 5-10 USD/ounce. By early August 10, the gold price today closed the weekend trading session at 2,430 USD/ounce.
Although gold prices have cooled down somewhat, analysts say future developments will depend on whether the US cuts interest rates.
According to data from the FedWatch Tool of the CME exchange, the gold market is betting 100% that the US will lower interest rates in the remaining time of 2024. At that time, gold prices will have the momentum to go up.
On the other hand, recent data from the World Gold Council shows that gold investment funds are increasing their long positions; central banks’ gold purchases have not stopped as the geopolitical situation in the Middle East remains tense.
The above factors could help gold prices increase sharply in the coming time.
In Vietnam, the price of SJC gold on August 9 remained unchanged at 78.5 million VND/tael. The price of gold rings produced by SJC and PNJ companies was sold at 77.5 million VND/tael.
Source: https://nld.com.vn/gia-vang-hom-nay-10-8-bien-dong-giang-co-19624081006424057.htm
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