Domestic gold price today August 22
Early afternoon of August 22 , 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 2:10 p.m. as follows:
| Buy | Sell | |
| SJC Hanoi | 67,050,000 VND/tael | 67,670,000 VND/tael |
| SJC HCMC | 67,050,000 VND/tael | 67,650,000 VND/tael |
| SJC Danang | 67,050,000 VND/tael | 67,670,000 VND/tael |
SJC gold price list updated early afternoon August 22
Early morning of August 22 , SJC 9999 gold price today increased by 50 thousand VND/tael in both buying and selling compared to yesterday's closing price.
The price of 9999 gold was updated by Saigon Jewelry Company Limited (SJC) at 8:39 am and the price of 9999 gold was listed by Doji Jewelry Group at 8:36 am as follows:
| Buy | Sell | |
| SJC Hanoi | 67,000,000 VND/tael | 67,620,000 VND/tael |
| SJC HCMC | 67,000,000 VND/tael | 67,600,000 VND/tael |
| SJC Danang | 67,000,000 VND/tael | 67,620,000 VND/tael |
| Doji Hanoi | 66,850,000 VND/tael | 67,650,000 VND/tael |
| Doji HCMC | 66,950,000 VND/tael | 67,550,000 VND/tael |
SJC and DOJI gold price list updated early morning August 22
At the end of the trading session on August 21, the price of 9999 gold bars at SJC Ho Chi Minh City was 66.95 million VND/tael (buy) and 67.55 million VND/tael (sell). SJC Hanoi listed at 66.95 million VND/tael (buy) and 67.57 million VND/tael (sell).
Doji Hanoi listed at 66.9 million VND/tael (buy) and 67.7 million VND/tael (sell). Doji Ho Chi Minh City bought SJC gold at 66.9 million VND/tael and sold at 67.7 million VND/tael.
The central exchange rate on August 22 announced by the State Bank was 23,886 VND/USD, down 11 VND compared to yesterday. The USD price at commercial banks this morning (August 22) was traded around 23,610 VND/USD (buy) and 23,980 VND/USD (sell).
International gold price today August 22
At 9:20 a.m. today (August 22, Vietnam time) , the world spot gold price stood at around 1,896.4 USD/ounce, up 3.2 USD/ounce compared to last night. The price of gold futures for December delivery on the Comex New York floor was at 1,924.4 USD/ounce.
On the morning of August 22 , world gold converted to USD bank price was over 54.82 million VND/tael (excluding tax and fees), about 12.8 million VND/tael lower than domestic gold price.
On the world market, the spot gold price on Kitco on August 21 (at 7:00 p.m., Vietnam time) was trading at 1,893.2 USD/ounce.
World gold prices are being negatively affected by the rising US dollar. Analysts predict the market will be quiet as they await the speech of US Federal Reserve Chairman Jerome Powell at the annual Jackson Hole symposium.
The Dollar Index (measuring the strength of the USD against six major currencies) increased by more than 0.02% compared to the previous session, to 103.19 points.
Michele Schneider, director of research at MarketGauge, said that if Mr. Powell just delivered a more dovish message about upcoming monetary policy, it would be enough to support gold prices to increase.
This expert said that the Fed will not be able to maintain interest rates at current high levels when the US economy begins to slow down. The Fed will have to cut interest rates even if inflation remains high, which could support gold prices.
Despite the strong selling pressure in gold over the past four weeks, Schneider said the market continues to show resilience. Despite the selling pressure, gold remains above its March low of $1,885 an ounce.
Gold Price Forecast
Spot gold is on a downward trend, approaching $1,800 an ounce, said Alex Kuptsikevich, senior market analyst at FxPro.
Gold prices are unlikely to rise again as other yielding assets such as bonds and the US dollar have rallied. Investors are shifting from gold to other yielding channels.
Despite expectations that Powell will strike a neutral tone at Jackson Hole, gold is unlikely to see any gains in the short term, said James Stanley, market strategist at Stone X.
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