Gold price update morning of August 22: Increase not stopped

SJC gold bar price

As of 6:00 AM, Phu Quy listed SJC gold bar prices at 144-147 million VND/tael (buying - selling), an increase of 1 million 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 144-147 million VND/tael (buying - selling), an increase of 1 million VND/tael in both buying and selling directions. The buying - selling difference is at 3 million VND/tael.

Bao Tin Minh Chau listed SJC gold bar prices at the threshold of 144.1-148.1 million VND/tael (buying - selling), an increase of 1.1 million VND/tael in both buying and selling directions. The buying - selling difference is at 4 million VND/tael.

9999 gold ring price

As of 6:00 AM, Phu Quy Gold and Gems Group listed the price of gold rings at 144-147 million VND/tael (buying - selling), an increase of 1 million 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 144-148 million VND/tael (buying - selling), an increase of 1 million VND/tael in both buying and selling 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 144.1-148.1 million VND/tael (buying - selling), an increase of 1.1 million VND/tael in both buying and selling directions. The buying - selling difference is at 4 million VND/tael.

World gold price

Recorded at 0:20 am, world gold prices were listed around the threshold of 4.623 USD/ounce, up 140.3 USD.

Gold price forecast

The upward momentum of world gold prices continues to be strengthened as the precious metal benefits from many supporting factors such as the weakening USD, expectations that the US Federal Reserve (Fed) will maintain its current interest rate policy and concerns related to the US fiscal outlook.

The latest economic data shows that the US growth picture is still differentiated. While the service sector continues to expand stronger than expected, manufacturing activity shows signs of slowing down.

The composite PMI index in August increased to its highest level since 2022, reflecting the recovery momentum of the service sector, but pressure from input costs and supply chain instability are still factors to be monitored.

Previously, some data on inflation, retail sales and weak consumer sentiment caused the market to reduce expectations that the Fed would continue to raise interest rates in the near future.

Although the minutes of the recent meeting show that some officials are still concerned that inflation is not completely controlled, investors are currently leaning towards the possibility that the Fed will keep the interest rate level unchanged in the upcoming meeting.

In addition to monetary policy factors, gold prices are also supported by the need to hedge against risks as geopolitical tensions and instability in the energy market still exist. The influx of goods through some important transport routes is increasing concerns about the risk of inflation returning, thereby promoting demand for holding safe-haven assets such as gold.

Regarding technical analysis, world gold prices are maintaining a positive trend after surpassing the important resistance zone around 4,500 USD/ounce. If buying pressure continues to be maintained, gold prices may head towards higher resistance zones around 4,671 USD/ounce and further, 4,778 USD/ounce.

In the opposite direction, the 4,447 USD/ounce zone is considered an important support threshold in the short term. If this mark is lost, adjustment pressure may bring prices back to lower zones.

In the coming time, the diễn biến of the USD, US bond yields, important economic data and policy signals from the Fed will continue to be decisive factors for the trend of gold prices. Although long-term prospects still receive many supporting factors, the market may experience corrections because prices have increased sharply in the past time.