Opening at 8:30 this morning, the price of SJC gold in Ho Chi Minh City was listed at 36.60 36.70 million VND/tael, down 40,000 VND in both buying and selling directions compared to the previous trading session.
In Hanoi, the price of SJC gold is listed at 36.60 - 36.70 million VND/tael, compared to yesterday's decrease of 60,000 VND for buying and 40,000 VND for selling.
At Bao Tin Minh Chau, the price of SJC brand gold was listed at the beginning of the session at 36.60 - 36.70 million VND/tael, down 40,000 VND/tael compared to yesterday.
The price of Bao Tin Minh Chau's Rong Thang Long gold brand gold, the price of 9999 gold decreased by VND40,000 for buying and VND50,000 for selling, ranging from VND36.59 - 36.69 million/tael.
DOJI gold market in Ho Chi Minh City is listed at 36.60 - 36.70 million VND/tael, down 40,000 compared to yesterday. In Hanoi, DOJI gold price is at 36.60 - 36.70 million VND/tael, down 60,000 VND for buying and 40,000 VND for selling compared to the previous trading session.
As of early morning of August 30 (Vietnam time), the world spot gold price stood at 1,203 USD/ounce.
December gold delivery price on the New York Comex stood at 1,210 USD/ounce.
World gold converted to USD is priced at 33.3 million VND/tael, excluding taxes and fees, about 3.4 million VND/tael lower than domestic gold.
World gold prices cannot increase as the USD stabilizes again as confidence in the US is at an 18-year high while China suddenly puts a bet on gold.
The US dollar rebounded after hitting its lowest level since August 2 thanks to the news that the US and Mexico have agreed to amend the North American Free Trade Agreement (NAFTA).
The new agreement is expected to last 16 years and will be reviewed every 6 years when approved by the National Assembly.
The White House did not go into details of the deal, but stressed that the US-Mexico Trade Agreement was a both a victory for farmers, workers and businesses in North America. This is considered an optimistic factor to reduce global trade tensions.
However, the greenback is not expected to fall sharply as the Fed still plans to raise interest rates 1-2 more times in 2018, while the trade war between the US and China is still tense. Mr. Donald Trump has just said that he is in no rush to negotiate with China.
Earlier, last week and early this week, the US dollar fell sharply as the US Federal Reserve (Fed) unexpectedly made a more cautious statement about its plan to tighten monetary policy.
Gold prices also decreased, measuring China's net gold imports via Hong Kong, down about 45% in July compared to the previous month in the context of weak demand. It shows that Chinese investors are no longer betting on this metal item.
