Down from multi-week high

SJC gold bar price

Recorded at 9:00 a.m., SJC gold price was listed by DOJI Group at 78-80 million VND/tael (buy - sell); unchanged.

The difference between the buying and selling price of SJC gold at DOJI is 2 million VND/tael. This threshold is quite high, causing investors to face the risk of loss.

Meanwhile, Saigon Jewelry Company listed the price of SJC gold at 78-80 million VND/tael (buy - sell); unchanged.

The difference between buying and selling price of SJC gold at Saigon Jewelry Company is also at 2 million VND/tael.

9999 gold ring price

As of 9:00 a.m., the price of 9999 Hung Thinh Vuong round gold rings at DOJI Gold and Gemstone Group was listed at 76.70-77.90 million VND/tael (buy - sell), an increase of 50,000 VND/tael for buying and unchanged for selling.

Saigon Jewelry Company listed the price of gold rings at 76.68-77.98 million VND/tael (buy - sell), unchanged.

Bao Tin Minh Chau listed the price of gold rings at 76.68-77.88 million VND/tael (buy - sell), an increase of 80,000 VND/tael in both directions.

In recent sessions, the price of gold rings has often fluctuated in the same direction as the world market. Investors can refer to the world market and expert opinions before making investment decisions.

World gold price

As of 9:15 a.m., the world gold price listed on Kitco was at 2,466.3 USD/ounce; down 4.1 USD/ounce compared to the beginning of yesterday's trading session.

Gold Price Forecast

World gold prices fell slightly as the USD index increased. Recorded at 9:15 a.m. on August 14, the US Dollar Index, which measures the greenback's fluctuations against six major currencies, was at 102.427 points (up 0.05%).

Despite the decline, the precious metal remained at a high level ahead of US economic data. The US announced that the producer price index (PPI) in July decreased sharply from 2.7% to 2.2% year-on-year.

However, the July PPI (excluding volatile food and energy prices) rose 3.3% year-on-year, up from June's 3.2% gain.

The July core PPI unexpectedly fell sharply from 3% the previous month to 2.4%, much lower than the previous forecast of 2.7%. The July PPI on a monthly basis fell from a 0.2% increase the previous month to 0.1%.

New data showed inflation remained moderate, with US producer prices rising less than expected in July. The latest figures further bolster the case for a rate cut at the Fed’s next policy meeting.

According to the CME FedWatch tool, the market is now pricing in a more than 50% chance of a 50 basis point rate cut at the September policy meeting. Historically, low interest rates tend to boost the appeal of gold.

Despite recent profit-taking, geopolitical tensions and market volatility, along with speculation around a potential rate cut, continue to drive investors to safe havens, said Allegiance Gold CEO Alex Ebkarian.