Gold Price Update on August 12: Gold Bars Stabilize After a Volatile Week

After a week that saw a decrease of 1.8 million VND per tael in buying prices and 1.3 million VND in selling prices, the gold bar market has entered the new trading week with prices largely holding steady. As of 9 AM on August 12, SJC Ho Chi Minh City listed gold bar trading prices at 76.50 – 78.50 million VND per tael, with both buying and selling prices unchanged from the end of last week. Doji Hanoi and Doji Ho Chi Minh City also maintained their buying and selling prices at 76.50 – 78.50 million VND per tael, with no changes compared to the previous session's close. Boa Tin Minh Chau adjusted its buying price up by 100,000 VND per tael, while the selling price remained unchanged from the previous session, with trading currently listed at 76.60 – 78.50 million VND per tael. Phu Quy listed trading prices at 76.60 – 78.50 million VND per tael, with no changes in buying and selling prices compared to the end of last week. Gold bar selling prices at the Big4 banks (Vietinbank, Vietcombank, BIDV, Agribank) remained stable at 78.50 million VND per tael, unchanged from the previous listing. A recent survey by the World Gold Council showed that 29 central banks have indicated they still intend to continue purchasing more gold. Last year, central banks bought over 1,000 tons of gold, and in the first half of this year, they purchased more than 500 tons. According to economist Dr. Nguyễn Trí Hiếu, there are no signs of gold prices cooling down in the near future. “My forecast is that gold could reach $2,500 per ounce this year and may rise to $3,000 per ounce next year. Currently, there seems to be no factor that could lead to a decrease in gold prices,” Dr. Hiếu commented. The reasons behind the rising gold prices include the heated political climate in the United States (U.S. presidential election), geopolitical tensions in Ukraine and the Middle East, and the possibility of the U.S. Federal Reserve (Fed) cutting interest rates.

Gold Price Update on August 12: Gold Bars Stabilize After a Volatile Week

After a week that saw a decrease of 1.8 million VND per tael in buying prices and 1.3 million VND in selling prices, the gold bar market has entered the new trading week with prices largely holding steady.

Support authors and subscribe to content

Subscribe

9999 Gold Rings on August 10: Continued Rise to 77.6 Million VND, Gap with Gold Bars Less Than 1 Million

Exchange Rate Update on August 12: Central Rate Drops by 4 VND, Banks Show Significant Fluctuations

Related Posts

Leave a Reply Cancel reply

Premium Content

Browse by Category

Browse by Tags

Categories

Browse by Tag

Recent Posts

Welcome Back!

Create New Account!

Retrieve your password

Are you sure want to unlock this post?

Are you sure want to cancel subscription?