9999 SJC gold increased by 50,000 VND/tael in both directions

Domestic gold price today August 28

Early afternoon of August 28 , today's SJC 9999 gold price increased by 50 thousand VND/tael in both buying and selling compared to the morning.

The price of 9999 gold was updated by Saigon Jewelry Company Limited (SJC) at 13:55 and the price of 9999 gold was listed by Doji Jewelry Group at 14:35 as follows:

	Buy	Sell
SJC Hanoi	67,500,000 VND/tael	68,120,000 VND/tael
SJC HCMC	67,500,000 VND/tael	68,100,000 VND/tael
SJC Danang	67,500,000 VND/tael	68,120,000 VND/tael
Doji Hanoi	67,250,000 VND/tael	68,150,000 VND/tael
Doji HCMC	67,300,000 VND/tael	68,000,000 VND/tael

SJC and DOJI gold price list updated early afternoon August 28

Early morning of August 28 , SJC's 9999 gold price today increased by 100,000 VND/tael in buying price and remained unchanged in selling price compared to the end of last week's trading session.

The price of 9999 gold was updated by Saigon Jewelry Company Limited (SJC) at 8:28 a.m. and the price of 9999 gold was listed by Doji Jewelry Group at 8:42 a.m. as follows:

	Buy	Sell
SJC Hanoi	67,450,000 VND/tael	68,070,000 VND/tael
SJC HCMC	67,450,000 VND/tael	68,050,000 VND/tael
SJC Danang	67,450,000 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 28

At the end of the trading session on August 26, the price of 9999 gold bars at SJC Ho Chi Minh City was 67.35 million VND/tael (buy) and 68.05 million VND/tael (sell). SJC Hanoi listed at 67.35 million VND/tael (buy) and 68.07 million VND/tael (sell).

Doji Hanoi listed at 67.2 million VND/tael (buy) and 68.1 million VND/tael (sell). Doji Ho Chi Minh City bought SJC gold at 67.3 million VND/tael and sold at 68 million VND/tael.

*Gold is under pressure from the US dollar and rising bond yields. (Photo: Kitco)*

The central exchange rate on August 28 announced by the State Bank was 23,942 VND/USD, an increase of 44 VND compared to yesterday. The USD price at commercial banks this morning (August 28) was traded around 23,820 VND/USD (buy) and 24,190 VND/USD (sell).

International gold price today August 28

At 9:09 a.m. today (August 28, Vietnam time ), the world spot gold price stood at around 1,915 USD/ounce, up 1 USD/ounce compared to last night. The price of gold futures for December delivery on the Comex New York floor was at 1,942.9 USD/ounce.

On the morning of August 28 , world gold converted to USD bank price was nearly 55.85 million VND/tael (excluding tax and fees), about 12.22 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 on August 26 (at 6:00 p.m., Vietnam time) was trading at 1,914 USD/ounce.

The rising US dollar and 10-year US Treasury yields have reduced the appeal of gold. Especially when US Federal Reserve Chairman Jerome Powell expressed his view that interest rates will continue to be higher for a long time, gold prices have become even more pressured.

At the Jackson Hole conference in Wyoming, Mr. Powell said monetary policy decisions were being made cautiously. The US central bank has yet to conclude whether current interest rates are high enough to ensure inflation returns to its 2% target.

The USD Index (a measure of the greenback's strength against other major currencies) continued to rise, to 104.2 points.

According to experts, Mr. Powell's speech provided little new information about the direction of the US central bank in the coming time.

The market still has to wait for the upcoming macroeconomic data. If the data shows a weaker economy, that will support gold and vice versa.

Gold Price Forecast

This week, 12 Wall Street analysts participated in Kitco News’ gold survey. 42% said gold prices would rise in the near term, 42% said gold would fall, and 16% said gold would stay flat.

In an online poll, 69% predicted gold would rise next week, 20% predicted gold prices would fall and more than 10% predicted prices would remain flat.

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