Currently, DOJI Hanoi gold is trading around 66.7 million VND/tael for buying; 67.4 million VND/tael for selling, an increase of 50 thousand VND in both buying and selling compared to the previous session.

Today's gold price at DOJI Saigon is trading around 66.7 million VND/tael for buying; 67.35 million VND/tael for selling, up 50 thousand VND/tael in both directions.

Gold price today (August 11): In the afternoon session, domestic gold increased simultaneously. Illustration photo: VNA

SJC Hanoi and Da Nang simultaneously adjusted the gold price up by 150 thousand VND/tael in both buying and selling directions. Currently, the gold price here is at 66.85 million VND/tael for buying; 67.47 million VND/tael for selling.

World gold prices stabilized in the session on August 10 after data showed that US consumer prices increased moderately in July 2023, reinforcing speculation that the US Federal Reserve (Fed) is about to end its interest rate hike cycle.

On the afternoon of August 11, the world gold price stood at 1,917 USD/ounce, after increasing by 0.8% when the US inflation data was announced. The US gold futures price decreased by 0.1% to 1,948.9 USD/ounce. David Meger, director of metals trading at High Ridge Futures, said that with the CPI trending down, the Fed is unlikely to continue raising interest rates, especially at the meeting in September 2023.

This morning (August 11), the US Dollar Index increased by 0.13% to 102.63 points, continuing to take away the attractiveness of gold to buyers holding other currencies.

New reports showed that US inflation continued to cool and the job market was showing signs of weakness. Specifically, the US Consumer Price Index (CPI) rose 0.2% in July, after increasing 0.2% in June and 3.2% on the year. The actual data was in line with expectations. However, annual inflation provides a more nuanced picture of consumer prices. Over the past 12 months, the CPI in July increased 3.2% compared to the same period last year, after increasing 3% in June.

Hai Yen

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