The domestic gold price has turned downward while the global price remains slightly optimistic with a mild increase.
The gold price today, August 14th, how much is it? The price of gold on Kitco, SJC gold price, Doji, Rồng Vàng Thăng Long, NPQ, 9999, the latest and most accurate updates are provided below:
Domestic Gold Price
At the opening of the trading session for the new week, this morning, August 14th, Saigon Jewelry Company listed the buying and selling prices of SJC gold at 66.80-67.40 million VND per tael, a decrease of 100,000 VND per tael in the selling price compared to the previous trading session.
Doji gold listed the gold price at 66.80-67.50 million VND per tael, keeping the price the same as the previous session.
Phú Quý listed the SJC gold price at 66.45-67.05 million VND per tael.
The SJC gold price at Bảo Tín Minh Châu Company is 66.85-67.38 million VND per tael, a decrease of 50,000 VND per tael.
The 24K Rồng Thăng Long gold price at Bảo Tín Minh Châu Company is 56.08-57.93 million VND per tael, a decrease of 100,000 VND per tael compared to the previous session.
On the international market, according to Kitco, the gold price at 9 a.m. today (Vietnam time) decreased by 1.95 USD, equivalent to 0.1%, to the level of 1,911.92 USD/ounce
The domestic gold price continues to decrease.
Before the opening of the trading session for the new week, this morning, August 14th, Saigon Jewelry Company listed the buying and selling prices of SJC gold at 66.80-67.50 million VND per tael, a decrease of 100,000 VND per tael in the buying price compared to the previous trading session.
Doji gold listed the gold price at 66.80-67.50 million VND per tael, keeping the price the same as the previous session.
Phú Quý listed the SJC gold price at 66.45-67.05 million VND per tael.
The SJC gold price at Bảo Tín Minh Châu Company is 66.90-67.50 million VND per tael, an increase of 200,000 VND per tael.
The 24K Rồng Thăng Long gold price at Bảo Tín Minh Châu Company is 56.18-57.03 million VND per tael.
On the international market
According to Kitco, the gold price today increased by 1.39 USD, equivalent to 0.07%, reaching the level of 1,913.81 USD per ounce.
The global gold price has turned downward while the oil price and the USD are on the rise.
Gold consumption by Vietnamese individuals has continuously decreased for two consecutive quarters, leading to a purchasing power for the first 6 months of the year that is more than 68% lower compared to the same period last year, and over 71% lower compared to the pre-pandemic period.
According to a report from the World Gold Council, Vietnam's gold demand in the second quarter reached 12.7 tons, a 9% decrease compared to the same period in 2022. The demand for gold bars and gold coins also decreased by 5%.
A similar trend can be observed in the demand for gold jewelry, as it dropped from 4.5 tons in the second quarter of 2022 to 3.7 tons in the previous quarter, equivalent to an 18% decrease.
Previously, gold consumption in the first quarter also decreased by 12% compared to the same period in 2022. With two consecutive quarters of decline, the total gold consumption by the Vietnamese in the first half of the year stood at 22.9 tons, a decrease of nearly 32% compared to the same period last year (33.6 tons). Compared to the pre-pandemic year of 2019, purchasing power has also decreased by nearly 29%.
The trend of gold price:
In this week, retail investors still appear quite optimistic about the gold price, while on the other hand, analysts on Wall Street have mixed opinions, lacking consensus on the direction of the precious metals market.
Gold has shown a decreasing trend with a 1% drop in the past week, as the U.S. economy announced CPI and PPI indices that indicate lingering inflationary pressures.
The precious metal market has been constrained as the price trend lacks clear direction, with market participants still divided on whether the Federal Reserve (Fed) has truly reached its peak interest rate or if there are more rate hikes to come.
The latest weekly market survey results from Kitco News indicate that retail investors are expecting a solid increase in gold prices for the week ending on August 18th. Meanwhile, market analysts remain cautious as they await decisive signals from economic indicators and technical trends.
According to baogiaothong.vn