World gold prices continued to rise in the trading session on August 21, supported by the weakening USD and the US Treasury Department's bond buyback move.
At 11:08 Vietnam time, spot world gold prices increased by 0.51% to 4,536.52 USD/ounce, 0.51%. Meanwhile, December gold futures contracts increased by 0.49% to 4,593.60 USD/ounce.
Previously, spot gold prices increased by 0.5% to 4,540.18 USD/ounce, after hitting the highest level since the beginning of June in the previous session. Since the beginning of the week, this precious metal has increased by about 3.6%, heading towards its third consecutive week of increase.
Gold prices were supported as the USD headed for a week of depreciation, thereby making gold more attractive to buyers holding other currencies.
According to CME FedWatch Tool, traders are valuing about 64% of the Fed's ability to keep interest rates unchanged next month, while the possibility of raising interest rates is at 36%. High interest rates often put pressure on gold because the precious metal does not yield yields.
On the market for other precious metals, at around 11:08 am on the same day, spot silver prices were recorded at 68.965 USD/ounce, up 1.29%. Platinum prices increased by 1.82%, to 1,870.46 USD/ounce. Palladium prices increased by 1.33%, reaching 1,351.75 USD/ounce.
Meanwhile, oil prices slightly decreased. Brent crude oil futures for October 2026 delivery fell 0.27%, to 93.53 USD/barrel. WTI crude oil fell 0.43%, to 86.46 USD/barrel.
