Opening this morning, Saigon Jewelry Company listed in Ho Chi Minh City at 36.61 - 36.79 million VND/tael (buy - sell).
The gold price in Hanoi is listed at 36.61 - 36.79 million VND/tael (buy - sell), an increase of 40 thousand VND/tael compared to yesterday.
Doji Group. Ho Chi Minh City is currently listing gold bars at 36.65 - 36.75 million VND/tael.
Gold prices in the Hanoi area are listed at 36.65 - 36.75 million VND/tael (buy - sell), down 30 thousand VND/tael compared to yesterday.
At Phu Quy Jewelry Company, the price of SJC gold is listed at 36.64 million VND/tael (buy) and 36.74 million VND/tael (sell), down 10 thousand VND/tael compared to yesterday.
The price of Thang Long dragon gold and 9999 gold bars is currently trading at VND34.41 - 34.86 million/tael; the price of gold for the lucky money and round gold is also trading at VND34.41 - 35.86 million/tael.
As of early morning of August 21 (Vietnam time), the world spot gold price stood at 1,185 USD/ounce.
December gold delivery price on the New York Comex stood at 1,192 USD/ounce.
World gold converted to USD is priced at 32.8 million VND/tael, excluding taxes and fees, about 3.9 million VND/tael lower than domestic gold.
Experts say that the recent decline in gold prices is due to investors selling off precious metals when gold prices continuously penetrate important support levels. Gold's decline is also due to great pressure from the USD. The USD index last week was always above 96 points and even reached a 13-month peak.
Gold also decreased because this commodity has recently lost its position as a safe haven during times of uncertainty. Meanwhile, the US is still in a roadmap to raise interest rates and tighten monetary policy according to the plan of the US Federal Reserve (Fed).
Gold picked up slightly in the first session of the week as the USD cooled down after White House economic advisor Larry Kudlow confirmed that China and the US will meet at the end of August to negotiate trade.
According to experts, this week, gold prices are likely to be pressured by the strength of the USD and higher US government bond yields. This has led to less interest in the precious metal.
