Opening this morning's trading session (8.22), DOJI Group listed the price of SJC gold at 36.34 - 36.42 million VND/tael (buy - sell), down 30 thousand VND in both directions compared to the same time in the previous trading session.
SJC gold price at Bao Tin Minh Chau is listed at 36.36 - 36.43 million VND/tael, down 10 thousand VND for buying and unchanged for selling compared to yesterday. Price of plain round gold rings Dragon Thang Long gold is trading at: 35.11-35.56 million VND/tael (buy in - sell out), an increase of 140 thousand VND in both directions compared to the previous trading session.
At Phu Nhuan Jewelry Joint Stock Company (PNJ), the price of SJC gold bars was listed at 36.32 - 36.50 million VND/tael (buy - sell), unchanged from the same time yesterday.
World gold price is currently listed at 1288.20 - 1289.20 USD/ounce
9999 gold price for December delivery increased by 5.6 USD/ounce to 1297.20 USD/ounce. US gold futures have reached their highest level in the past 2.5 months. The decline in the USD Index has supported the increase in gold prices. Investors are looking to gold as a safe haven.
The highlight this week is the annual meeting between central banks of many countries held in Jackson Hole, Wyoming (USA) from Friday to Saturday. Senior leaders attending the meeting included Federal Reserve Chairman quan quan Yellen and European Central Bank President Mario Draghi. The market is holding its breath waiting for the message issued by the meeting to predict the next moves in monetary policy management by central banks of countries.
Tensions in US-North Korea relations continue to be the reason why investors are looking to gold as a safe haven. This week, the US and South Korea will hold a drill and this action is expected to anger Pyongyang and take retaliatory action.
Another factor supporting the increase in gold prices is the decline in US stocks after controversies in the Trump administration. Economic adviser to President Donal Trump resigned last week, and advisor Steve Bannon was fired. The US stock market was rocking in August, partly due to investors worried about Trump's ability to achieve their targets in the context of such controversy. Another noteworthy piece of information is that President Donal Trump will speak about the situation in Afghanistan this week.
On the foreign exchange market, the central exchange rate announced by the State Bank on the morning of August 22 was 22,448 VND/USD, down 2 VND compared to the previous session. Vietcombank's USD exchange rate today is listed at 22,690 - 22,760 VND/USD (buy - sell), unchanged in both directions compared to the previous trading session.
