Gold price update at the close of the session on August 11: World rebounds, domestic in opposite directions

SJC gold bar price

As of 7:45 PM, Phu Quy listed SJC gold bar prices at the threshold of 140.5-143.5 million VND/tael (buying - selling), down 600,000 VND/tael in both buying and selling directions. The buying - selling difference is at 3 million VND/tael.

SJC gold bar price is listed by DOJI at the threshold of 140.5-143.5 million VND/tael (buying - selling), down 600,000 VND/tael in both buying and selling directions. The buying - selling difference is at 3 million VND/tael.

SJC gold bar price was listed by Bao Tin Minh Chau at 142-146 million VND/tael (buying - selling), an increase of 1 million VND/tael in both buying and selling directions. The difference between buying and selling prices is at 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 140.5-143.5 million VND/tael (buying - selling), down 600,000 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 141.5-145.5 million VND/tael (buying - selling), an increase of 1.3 million VND/tael in both directions. The buying - selling difference is at 4 million VND/tael.

Bao Tin Minh Chau listed the price of gold rings at 142-146 million VND/tael (buying - selling), an increase of 1 million VND/tael in both buying and selling directions. The difference between buying and selling prices is at 4 million VND/tael.

World gold price

Recorded at 7:45 PM, world gold prices were listed around the threshold of 4,396.7 USD/ounce, up 69.2 USD/ounce.

Gold price forecast

World gold prices are maintaining a high price range after reaching their highest level in more than two months at one point. However, the next developments of the precious metal are forecast to depend significantly on the series of US inflation data to be released soon.

The focus of the market is currently on the US consumer price index (CPI) announced on August 12 and the producer price index (PPI) on August 13. These data may provide more signals about the monetary policy trend of the US Federal Reserve (Fed), thereby directly impacting gold prices.

The upcoming inflation figures will play an important role in the US interest rate outlook. If inflation is higher than expected, the possibility of the Fed continuing to raise interest rates will be strengthened, thereby potentially creating further downward pressure on gold.

According to the CME FedWatch tool, the market is valuing about 48% of the Fed's ability to raise interest rates in September, higher than the previously recorded 44%. Expectations for interest rate hikes are often unfavorable for gold because precious metals do not bring fixed yields, while profitable assets such as bonds become more attractive when interest rates are high.

Some signals from Fed officials are also making investors cautious. Cleveland Fed Chairman Beth Hammack believes that gradually raising interest rates at the present time may help limit the risk of having to implement stronger increases in the future.

However, gold prices still receive support from long-term demand and geopolitical instability. New developments related to the US, Iran and efforts to reopen the Strait of Hormuz continue to increase the level of uncertainty in the international market.

In the short term, gold prices are likely to continue to fluctuate strongly around the time the US announces important inflation data.