Gold price today, August 18: Unsuccessful price increase, turning to plummet

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    Gold price today, August 18, opened the trading session and decreased slightly by VND40,000/tael. In contrast to domestic gold, the world gold market skyrocketed in the context of central banks in countries being afraid of low inflation.

    Opening trading session this morning (8.), DOJI Group listed SJC gold price at 36.29-36.37 million VND/tael (buy - sell), down 40 thousand VND in both directions compared to the same time in the previous trading session.

    SJC gold price at Bao Tin Minh Chau was listed at 36.30 - 36.36 million VND/tael, down 40 thousand VND in both directions compared to the same trading session yesterday. Price of plain round gold rings Dragon Thang Long gold is trading at: 34.94 - 35.39 million VND/tael (buy - sell), an increase of 50 thousand VND in both directions compared to the previous trading session.

    At Phu Nhuan Jewelry Joint Stock Company (PNJ), the price of SJC gold bars was listed at 36.24 - 36.42 million VND/tael (buy - sell), down 10 thousand VND for buying and down 30 thousand VND for selling compared to the same time yesterday.

    World gold price is currently listed at 1286.10 - 1287.10 USD/ounce

    In contrast to the downward trend of domestic SJC gold prices, in the world gold market, the price of 9999 gold for December delivery increased by 8.6 USD/ounce to 1291.50 USD/ounce.

    Gold prices increased slightly after the US Federal Reserve (FED) and the European Central Bank sent signals that their monetary policy is quite favorable. Another factor driving gold prices up was the sell-off of US stocks in yesterday's trading session.

    Minutes of the European Central Bank (ECB) meeting said the agency was very interested in low inflation. The ECB expressed concern that the euro has recently fallen and hit its lowest level in the past 3 weeks.

    Like the ECB, some members of the US Federal Open Market Committee (FOMC) are paying close attention to economic growth figures from some countries in the region, and inflation is at a low level. FOMC members are having mixed views on the Fed raising interest rates in the near future.

    The US dollar index showed signs of recovery in yesterday's trading session.

    In the foreign exchange market, the central exchange rate announced by the State Bank on the morning of August 18 was VND 22,450/USD, unchanged from the previous session. Vietcombank's USD exchange rate today is listed at 22690 - 22760 VND/USD (buy - sell), unchanged in both directions compared to the previous trading session.

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