(Photo: Reuters)
Domestic gold price is quiet this morning
Domestic gold price on August 11 remained stable, trading sideways around 67.3 million VND/tael.
Specifically, as of 9:30 this morning, DOJI gold price in Hanoi was listed at 66.65 million VND/tael for buying and 67.35 million VND/tael for selling, unchanged from the end of the previous trading session.
In Ho Chi Minh City, the price of gold of this brand is the same for buying but 100,000 VND lower for selling than in Hanoi.
Meanwhile, this morning, SJC gold price was listed at 66.7-67.32 million VND/tael for buying and selling.
PNJ Gold is buying at 56 million VND/tael and selling at 57 million VND/tael.
World gold prices fluctuated within a narrow range this morning.
The world spot gold price this morning, August 11, traded at 1,913.4 USD/ounce, unchanged from yesterday's closing price. December gold futures last traded at 1,947.1 USD/ounce, down 1.8 USD from the previous trading session.
Gold prices this morning slowed down their consecutive declines since the beginning of the week after newly released reports showed that US inflation continued to "cool down" and the job market was also showing signs of weakening.
Specifically, in July, the US Consumer Price Index (CPI) increased by 0.2% compared to the previous month, matching experts' forecasts. Compared to the same period last year, the CPI increased by 3.2%, slightly lower than the 3.3% forecast from experts, but higher than the 3% in June.
The core CPI, which excludes food and energy, also rose 0.2% from the previous month and rose 4.7% year-over-year, lower than the 4.8% increase forecast by experts polled by Dow Jones.
Meanwhile, the US weekly jobless claims report came in slightly higher than expected. While both reports are likely to support the Federal Reserve’s easing, they are unlikely to be enough to boost gold prices amid a continued rally in the US dollar and a slowdown in inflation that is still persistent and not close to the Fed’s 2% target.
This morning, the USD-Index increased by 0.13% to 102.63 points, continuing to take away the attractiveness of gold for buyers holding other currencies; US stocks increased slightly and are still in the process of adjustment; oil prices are stable, trading around 82 USD/barrel.
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