Gold price at the close of the session on August 20th: Simultaneously increasing but showing signs of reversal

SJC gold bar price

As of 7:40 PM, Phu Quy listed SJC gold bar prices at 143-146 million VND/tael (buying - selling), an increase of 3.3 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 143-146 million VND/tael (buying - selling), an increase of 3.3 million VND/tael in both buying and selling directions. The difference between buying and selling is at 3 million VND/tael.

Bao Tin Minh Chau listed SJC gold bar prices at 143-147 million VND/tael (buying - selling), an increase of 2.8 million VND/tael on the buying side and an increase of 2.9 million VND/tael on the selling side. The buying - selling difference is at 4 million VND/tael.

9999 gold ring price

As of 7:40 PM, Phu Quy Gold and Gems Group listed the price of gold rings at 143-146 million VND/tael (buying - selling), an increase of 3.3 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 143-147 million VND/tael (buying - selling), an increase of 3 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 143-147 million VND/tael (buying - selling), an increase of 2.8 million VND/tael on the buying side and an increase of 2.9 million VND/tael on the selling side. The buying - selling difference is at 4 million VND/tael.

World gold price

Recorded at 7:50 PM, world gold prices were listed around the threshold of 4,470.2 USD/ounce, up 105.3 USD.

Gold price forecast

Short-term gold price outlook is interspersed with impacts from the monetary policy of the US Federal Reserve (Fed), fluctuations of the USD, bond yields and geopolitical tensions in the Middle East.

After a strong increase of more than 4% in the previous session and at one point exceeding 4,500 USD/ounce, gold prices showed profit-taking activity. However, analysts believe that this decline is not enough to confirm a prolonged downward trend.

The minutes of the latest meeting of the US Federal Open Market Committee (FOMC) show that policymakers are increasingly cautious about the risk of prolonged inflation. Some members are even willing to consider raising interest rates if price pressure does not cool down as expected.

This is a factor that may limit the upward momentum of gold. Maintaining high interest rates increases the opportunity cost of holding precious metals that do not yield yields.

According to CME's FedWatch tool, the market currently assesses the probability of the Fed keeping interest rates unchanged at the September meeting at around 67%. Therefore, US inflation and labor data in the near future may create significant fluctuations in gold prices.

In the opposite direction, gold still receives support from the USD, which is fluctuating near its three-month low, along with new concerns about the US fiscal situation. The country's total public debt has exceeded $40,000 billion, increasing attention to defensive assets.

Tensions in the Middle East are also continuing to be an important variable. Oil prices rose sharply due to concerns that supply disruptions could increase inflationary pressure, while boosting demand for safe-haven assets.

In the long term, Morgan Stanley forecasts that gold prices are likely to exceed 5,000 USD/ounce in 2027, and may even reach this milestone sooner. However, the organization noted that US inflation data may cause the market to fluctuate sharply in the upward trend.

In the context of many supporting and pressing factors appearing together, gold prices are forecast to continue to fluctuate strongly around the high zone, instead of forming a clear one-way trend in the short term.