Gold price today, August 18: Mid-afternoon, all increase

Updated SJC gold price

As of 9:35 a.m., DOJI Group listed the price of SJC gold bars at VND123.7-124.7 million/tael (buy in - sell out), an increase of VND200,000/tael in both directions. The difference between buying and selling prices is at 1 million VND/tael.

Meanwhile, Bao Tin Minh Chau listed the price of SJC gold bars at 123.7-124.7 million VND/tael (buy - sell), an increase of 200,000 VND/tael in both directions. The difference between buying and selling prices is at 1 million VND/tael.

Phu Quy Jewelry Group listed the price of SJC gold bars at 122.7-124.7 million VND/tael (buy - sell), unchanged for buying and increased by 200,000 VND/tael for selling. The difference between buying and selling prices is at 2 million VND/tael.

9999 round gold ring price

As of 9:45 a.m., DOJI Group listed the price of gold rings at 116.8-119 1.8 million VND/tael (buy in - sell out), an increase of 300,000 VND/tael in both directions. The difference between buying and selling is 3 million VND/tael.

Bao Tin Minh Chau listed the price of gold rings at 117-120 million VND/tael (buy - sell), an increase of 200,000 VND/tael in both directions. The difference between buying and selling is 3 million VND/tael.

Phu Quy Gold and Stone Group listed the price of gold rings at 116.6-119 1.6 million VND/tael (buy in - sell out), an increase of 200,000 VND/tael in both directions. The difference between buying and selling is 3 million VND/tael.

The buying-selling gap is pushed up too high, increasing the risk for individual investors. Personal investors, especially those with a "surfing" mentality, need to consider carefully before putting money down.

World gold price

At 9:38 a.m., the world gold price was listed around 3,341.9 USD/ounce, up 7.8 compared to a day ago.

Gold price forecast

Adrian Day - Chairman of Adrian Day Asset Management - said: "Many things will depend on the outcome of the meeting between US President Donald Trump and Russian President Vladimir Putin, which could cause gold prices to increase or decrease sharply immediately.

In addition to that factor, we see gold continuing to fluctuate within range but tending to increase. The US Federal Reserve's (FED) interest rate cut in September has been reported by the market, so we will need more factors to loosen monetary policy so that gold can break out. So I think gold will "not change", but with many notes attached".

Colin Cieszynski - Director of Market Strategy at SIA Wealth Management - commented: "I am neutral on gold this week. I think the market can be quite quiet.

James Stanley - senior strategist at Forex.com - predicted that gold prices will increase. He said that the precious metal is being supported at the current price range, while the Jackson Hole event this week is unlikely to create a " Haward" surprise.

I dont think central banks will issue a strong signal. Usually they choose to delay and tend to be lax and next week will not be different" - Stanley commented.

According to Ole Hansen - Head of Commodity Strategy at Saxo Bank, this week's inflation data is not enough to prevent the FED from cutting interest rates.

He analyzed: At first, gold fell after a stronger-than-expected PPI data, as the market was concerned that this would make the Fed more cautious. However, the increase in production costs will eventually erode corporate profits, or be shifted to consumers, creating more inflationary pressures. That does not change our long-term optimistic view of gold. The Fed must eventually balance between curbing inflation and supporting the economy.

Hansen said gold prices are currently stuck in the $200 range around $3,350/ounce. However, demand for ETFs is still very high, reaching a two-year peak of 2,878 tons, showing that the long-term trend is still positive.

Daniel Pavilonis - senior commodity broker at RJO Futures - said that gold is still moving sideways after a series of fluctuations from Swiss gold tax and inflation data. We have seen gold prices bounce back thanks to tax information, then fall again. Stocks recovered, but gold remained stuck within range. I used to predict gold would fall below $3,000/ounce, but now I think prices could increase slightly or maintain the current range.

If the Fed cuts interest rates and inflation increases, it will be a boost for gold. If gold cannot make a new peak by October-November, the risk of prices falling to the 200-day average around $2,964/ounce is real.