SJC 9999 gold price increased by 100,000 VND/tael for selling price

Domestic gold price today August 26

Early morning of August 26 , SJC's 9999 gold price today remained unchanged in the buying direction but increased by 100 thousand VND/tael in the selling direction compared to the closing price yesterday.

The price of 9999 gold was updated by Saigon Jewelry Company Limited (SJC) at 8:21 a.m. and the price of 9999 gold was listed by Doji Jewelry Group at 8:37 a.m. as follows:

	Buy	Sell
SJC Hanoi	67,350,000 VND/tael	68,070,000 VND/tael
SJC HCMC	67,350,000 VND/tael	68,050,000 VND/tael
SJC Danang	67,350,000 VND/tael	68,070,000 VND/tael
Doji Hanoi	67,200,000 VND/tael	68,100,000 VND/tael
Doji HCMC	67,300,000 VND/tael	68,000,000 VND/tael

SJC and DOJI gold price list updated early morning August 26

At the end of the trading session on August 25, the price of 9999 gold bars at SJC Ho Chi Minh City was 67.35 million VND/tael (buy) and 67.95 million VND/tael (sell). SJC Hanoi listed at 67.35 million VND/tael (buy) and 67.97 million VND/tael (sell).

Doji Hanoi listed at 67.2 million VND/tael (buy) and 68.05 million VND/tael (sell). Doji Ho Chi Minh City bought SJC gold at 67.25 million VND/tael and sold at 67.95 million VND/tael.

The USD price at commercial banks this morning (August 26) was traded around 23,780 VND/USD (buy) and 24,150 VND/USD (sell).

International gold price today August 26

At 9:20 a.m. today (August 26, Vietnam time) , the world spot gold price stood at around 1,914.8 USD/ounce, down 4.2 USD/ounce compared to last night. The price of gold futures for December delivery on the Comex New York floor was at 1,939.9 USD/ounce.

On the morning of August 26, world gold converted to USD bank price was 55.75 million VND/tael (excluding tax and fees), about 12.32 million VND/tael lower than domestic gold price.

Fluctuations in international gold prices in the past 24 hours (Photo: Kitco)

On the world market, the spot gold price on Kitco floor on August 25 (at 8:00 p.m., Vietnam time) was trading at 1,919 USD/ounce.

Gold prices were little changed as traders awaited information from the US Federal Reserve's annual symposium in Jackson Hole, Wyoming, where investors will follow a speech by Fed Chairman Jerome Powell at the conference.

World gold prices fluctuate little. (Photo: KT)

A senior Fed official recently signaled that the rate-hike cycle is coming to an end, but did not rule out the possibility of several more rate hikes until inflation cools more markedly.

The dollar index (DXY), which measures the greenback against six other major currencies, rose 0.173% to 104.25, its highest since June 7. The benchmark 10-year U.S. Treasury note yield is currently at 4.227%.

Gold prices are up about 1.3% so far this week and are on track for their first weekly gain in August.

Gold Price Forecast

David Meger, head of metals trading at High Ridge Futures, said the positive signals from the labor market suggest the Fed will need to keep interest rates high longer than previously expected.

Matt Simpson, senior market analyst at City Index (USA), said that technically, gold breaking the $1,900/ounce threshold creates momentum for an increase in price to around $1,920/ounce.

Mr. Powell's speech is the deciding factor in whether gold prices return to $1,900/ounce or rise to $1,940/ounce.

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