This morning, SJC Company adjusted the gold bar price, increasing it by VND 600,000 per tael compared to the same period yesterday. It is now listed at VND 124.4 – 125.4 million per tael, a new record high.
Meanwhile, the gold ring price at this company was also adjusted upward by VND 500,000 per tael, reaching VND 117.3 – 119.8 million per tael.
Gold ring and gold bar prices listed at SJC Company.
Other gold companies such as Bao Tin Minh Chau, PNJ, and DOJI have not made any adjustments to their gold ring and SJC gold prices at the time of the survey.
In the global market, the spot gold price stands at USD 3,341 per ounce, a decrease of nearly USD 4 compared to the previous trading session’s close.
The gold market continues to trade below the initial resistance level of USD 3,350 per ounce as the US Federal Reserve (Fed) maintains a cautious stance, stating that more time and data are needed to assess the health of the labor market and the trajectory of inflation, according to the minutes of the July policy meeting.
Despite two members voting in favor of lowering interest rates, most of the Committee remained neutral. Inflation risks were considered a greater concern than the slowdown in the job market. “The members generally indicated that risks exist on both sides of the dual mandate, emphasizing that the risk of rising inflation and the risk of a decline in employment are prominent. Most assessed that the risk of rising inflation is more worrisome, some considered these risks to be balanced, while only a few believed that unemployment is a more prominent issue,” the minutes stated.
The gold market showed little significant reaction to the minutes. Spot gold is currently trading at USD 3,343.6 per ounce, up 0.89% on the day.
Data from CME FedWatch shows that the market still maintains an 82% expectation that the Fed will cut interest rates in September. However, the central bank’s cautious stance makes investors more cautious about the possibility of aggressive action by the Fed in the remaining months of the year.
The minutes also noted that some members pointed out that the prolonged impact of tariffs on inflation would depend largely on monetary policy. Some suggested that the current interest rates are not much higher than the neutral rate, while broader financial conditions are either neutral or even supportive of growth.
Chris Zaccarelli, Chief Investment Officer of Northlight Asset Management, opined that the Fed’s decision to cut rates in September will be a “close call.” He stated, “The minutes showed that the Fed didn’t cut rates at the last meeting because they were more worried about inflation than unemployment. But more importantly, how will they view it at the next meeting? Unless the upcoming CPI or PPI data disappoints, we still believe the Fed will cut rates in September.”
All attention now turns to the Jackson Hole conference later this week, where Chairman Jerome Powell is expected to speak. “It is likely that Mr. Powell will maintain a tight-lipped stance, emphasizing that the Fed remains committed to its dual mandate and that any decisions will depend on the data,” said Zaccarelli.
The Golden Opportunity: SJC Gold Soars to New Heights with a Whopping 40 Million Dong Increase Since the Start of the Year
As of August 18th, the price of SJC gold bars remained high at over 124 million VND per tael. Since the beginning of the year, the price of this commodity has surged by nearly 40 million VND per tael, representing a staggering almost 50% increase in just over eight months.
The Price of Gold Drops: A Missed Opportunity for Many
The gold trading price this morning of August 12th took an unexpected turn as the 99.99 gold ring witnessed a sharper decline compared to the SJC gold bar, following the downward trend of global gold prices.
The Price of Gold Soars to New Heights: Afternoon Update, August 7th
“On August 7th, the price of gold took an unexpected surge across prominent jewelry brands, breaching the significant threshold of VND 124 million per tael.”
9 Commodity Groups and Services that Increased CPI by 0.11% in July
The housing, utilities, fuel, and construction materials group witnessed the highest increase, with a 0.36% surge, contributing to a 0.07 percentage point rise in the overall CPI.
The Golden Rush: Prices Soar to Record Highs
This afternoon (August 5th), the SJC gold bar price surged to 123.8 million dong per tael, just 200,000 dong shy of the historical peak on April 22nd. The State Bank of Vietnam has announced that it will continue to coordinate with ministries and sectors to ensure transparency and take strict action against speculation and market manipulation in the gold market.
