Gold price update at the closing session on August 10th: Decline after many breakthrough sessions

SJC gold bar price

As of 6:25 PM, Phu Quy listed SJC gold bar prices at the threshold of 141.1-144.1 million VND/tael (buying - selling), an increase of 100,000 VND/tael in both buying and selling directions. The difference between buying and selling is at 3 million VND/tael.

SJC gold bar price is listed by DOJI at the threshold of 141.1-144.1 million VND/tael (buying - selling), an increase of 100,000 VND/tael in both buying and selling directions. The difference between buying and selling is at 3 million VND/tael.

SJC gold bar prices were listed by Bao Tin Minh Chau at the threshold of 141-145 million VND/tael (buying - selling), down 500,000 VND/tael in both buying and selling directions. The difference between buying and selling prices is at the threshold of 4 million VND/tael.

9999 gold ring price

As of 6:25 PM, Phu Quy Gold and Gems Group listed the price of gold rings at 141.1-144.1 million VND/tael (buying - selling), an increase of 100,000 VND/tael in both buying and selling directions. The buying - selling difference is at 3 million VND/tael.

DOJI listed the price of gold rings at the threshold of 140.2-144.2 million VND/tael (buying - selling), down 1 million VND/tael in both directions. The buying - selling difference is at 4 million VND/tael.

Bao Tin Minh Chau listed gold ring prices at the threshold of 141-145 million VND/tael (buying - selling), down 500,000 VND/tael in both buying and selling directions. The difference between buying and selling prices is at the threshold of 4 million VND/tael.

World gold price

Recorded at 7:22 PM, world gold prices were listed around the threshold of 4,327.5 USD/ounce, down 13.8 USD/ounce.

Gold price forecast

The world gold market is entering a sensitive phase as investors are waiting for new signals from US inflation data to assess the course of monetary policy in the near future.

After rising to a 7-week high in the previous session, world gold prices are under adjustment pressure as the USD recovers. The rising greenback makes gold more expensive for investors holding other currencies, thereby limiting the attractiveness of the precious metal.

Besides the exchange rate factor, inflation and the interest rate policy of the US Federal Reserve (Fed) continue to be important factors dominating the gold price trend. In a high interest rate environment, gold is often under pressure because it is an asset that does not generate cash flow. Conversely, if economic data shows that inflationary pressure is cooling down and increases expectations that the Fed may adjust monetary policy in a more loose direction, gold prices may be supported.

Investors are currently focusing on the US consumer price index (CPI) report released this week. This is considered an important data to assess the sustainability of inflation, and also affects expectations about upcoming interest rate decisions.

In addition to economic factors, geopolitical instability and risks in the energy market are still creating certain support for gold. Concerns about the risk of high energy prices may increase inflationary pressure, causing demand for holding safe-haven assets such as gold to continue to be maintained.

However, experts believe that the upward momentum of the precious metal may be hampered if the USD continues to strengthen or US economic data shows that the Fed is not in a hurry to change its interest rate policy.

In the short term, gold prices may continue to fluctuate widely as the market waits for new information. Domestic investors need to closely monitor the developments of world gold prices, USD exchange rates and monetary policy management before making buying and selling decisions.