Gold price today, August 31: "Shooting" 120,000 VND/tael, all sold off

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Gold prices today, August 31, have decreased sharply since the opening of the trading session. World gold prices have turned down after 3 consecutive increases and left the 11-month peak in the context of a stronger USD and optimistic US economic indicators.

Opening this morning's trading session (8.31), DOJI Group listed the price of SJC gold at 36.42 - 36.58 million VND/tael (buy - sell), down 30 thousand VND for buying and down 20 thousand VND for selling compared to the same time in yesterday's trading session.

SJC gold price at Bao Tin Minh Chau is listed at 36.44 - 36.50 million VND/tael, down 90 thousand VND for buying and down 100,000 VND for selling compared to yesterday. Price of plain round gold rings Dragon Thang Long gold is trading at: 35.43 - 35.88 million VND/tael (buy - sell), down 250 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 36.33 - 36.52 million VND/tael (buy - sell), down 120 thousand VND/tael in both directions compared to the same time yesterday.

World gold price is currently listed at 1306.50 - 1307.50 USD/ounce

9999 gold price for December delivery decreased by 5.30 USD/ounce to 1313.60 USD/ounce.

Investors' anxiety has eased after reports of military tensions when North Korea tested a missile launch over Japan on Tuesday. Some positive information about the US economy has been released, causing the USD to start recovering after a period of consecutive decline. This creates pressure to push gold prices down.

The US National ADP Employment Report for August, which was just released, showed that the number of jobs had increased to 237,000, much higher than the forecast increase to 185,000. Immediately after this news was announced, gold prices immediately decreased by 2-3 USD.

On the foreign exchange market, the central exchange rate announced by the State Bank on the morning of August 31 was 22,443 VND/USD, up 5 VND compared to the previous session. Vietcombank's USD exchange rate today is listed at 22,695 - 22,765 VND/USD (buy - sell), unchanged in both directions compared to the previous trading session.

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