Gold price update morning of August 14th: Domestic gold faces downward risk

SJC gold bar price

As of 6:00 AM on August 14, Phu Quy listed SJC gold bar prices at the threshold of 141.3-144.3 million VND/tael (buying - selling), unchanged in both buying and selling directions. The buying - selling difference is at 3 million VND/tael.

SJC gold bar price was listed by DOJI at the threshold of 141.3-144.3 million VND/tael (buying - selling), going sideways in both buying and selling directions. The difference between buying and selling is at 3 million VND/tael.

SJC gold bar price was listed by Bao Tin Minh Chau at the threshold of 141.4-145.4 million VND/tael (buying - selling), down 600,000 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 6:00 AM on August 14, Phu Quy Gold and Gems Group listed the price of gold rings at 141.3-144.3 million VND/tael (buying - selling), unchanged in both buying and selling directions. The buying - selling difference is at 3 million VND/tael.

DOJI listed the price of gold rings at 141.2-145.2 million VND/tael (buying - selling), down 300,000 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 the threshold of 141.4-145.4 million VND/tael (buying - selling), down 600,000 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 11:40 PM on August 13, world gold prices were listed around the threshold of 4,363 USD/ounce, down 33.7 USD.

Gold price forecast

World gold prices are under adjustment pressure as the market continues to assess the monetary policy outlook of the US Federal Reserve (Fed). Newly released economic data shows that inflationary pressure in the US has not yet completely cooled down, making expectations about the possibility of the Fed soon switching to a loose stance more cautious.

The producer price index (PPI) in July did not increase compared to the previous month, but the core inflation components remained at a relatively high level. Previously, the consumer price index (CPI) in July increased by 0.1% per month and 3.4% compared to the same period last year. The core CPI increased by 0.2% per month and 2.5% compared to the same period. This development shows that overall inflation shows signs of easing, but price pressure in the economy is still persistent.

The US labor market is sending a somewhat mixed signal as the number of initial jobless claims increased to 209,000. However, this increase is not large enough to reinforce expectations that the Fed will quickly change policy. The yield of 10-year US government bonds is still fluctuating around 4.7%, while the USD is relatively stable, thereby creating certain pressure on the precious metal.

In the short term, investors continue to focus their attention on US retail sales data. If data shows that consumer purchasing power is still strong, expectations of high interest rates may increase and put pressure on gold. Conversely, a weaker-than-expected report is likely to support gold price recovery.

Geopolitical risks in the Middle East region are still an important supporting factor. Instability related to transportation through the Strait of Hormuz may boost demand for safe haven assets. However, if oil prices rise sharply again, inflationary pressure is also at risk of increasing, making the Fed's monetary policy outlook more unpredictable.

Technically, the 4,332 USD/ounce zone is considered a near support for gold. If this zone is broken, the price may fall back to 4,262 USD/ounce, further to 4,205 USD/ounce. In the opposite direction, the 4,448 USD/ounce zone is a noteworthy resistance. If this threshold is sustainably surpassed, gold may head towards 4,575 USD/ounce, followed by the 4,666 USD/ounce zone.