Gold price today, August 21: Loss of confidence, gold falls from 9-month peak

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    Gold prices today, August 21, opened a trading session without much fluctuation compared to last weekend. In the world market, some political instability and violence occurred in the world, causing gold prices to reach a peak of 1,300 USD/ounce at the end of the week, before the price suddenly dropped in the first session of this week.

    Opening this morning's trading session (8.21), DOJI Group listed the price of SJC gold at 36.37-36.45 million VND/tael (buy - sell), an increase of 50 thousand VND in both directions compared to the same time in the previous trading session.

    SJC gold price at Bao Tin Minh Chau is listed at 36.37 - 36.43 million VND/tael, unchanged from the same time yesterday. Price of plain round gold rings Dragon Thang Long gold is trading at: 34.97- 35.42 million VND/tael (buy in - sell out), an increase of 30 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 36.32 - 36.50 million VND/tael (buy - sell), down 10 thousand VND for buying and down 20 thousand VND for selling compared to the same time yesterday.

    World gold price is currently listed at 1283.50 - 1284.50 USD/ounce

    9999 gold price for December delivery increased by 3 USD/ounce to 1295.50 USD/ounce.

    In the trading session last weekend, there was a time when gold prices increased due to the decline in global stocks related to President Trump's controversial moves in response to the violence in the state of Belgium; truck terrorism killed at least 13 people and injured more than 100 others.

    The USD depreciated due to growing doubts about President Donald Trump's ability to implement economic programs after he dissolved two advisory boards focusing on top US CEOs.

    The red stock market has helped safe-haven assets such as gold and the Yen continue to benefit and is forecast to continue to increase in price.

    Minutes of the Fed's July meeting included some rather tough statements about tightening monetary policy. New York Fed President William Dudley has also signaled that interest rates could increase in September. Investors are waiting for the Fed's decision at the September meeting. If the Fed raises interest rates, the possibility of the gold market being affected is relatively high because it has increased by 27% since the beginning of the year, even though the widespread printing situation in the world still creates a huge support for this commodity.

    In the foreign exchange market, the central exchange rate announced by the State Bank on the morning of August 21 was VND 22,450/USD, unchanged from the previous session. Vietcombank's USD exchange rate today is listed at 22,690 - 22,760 VND/USD (buy - sell), unchanged in both directions compared to the previous trading session.

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