Gold price update August 12: Gold price plummets, Mr. Trump exempts gold import tax

Gold pricedomestic today 12/8/2025

As of 9:30 a.m. today, August 12, 2025,gold priceDomestic gold prices fell by VND500,000/tael after reaching the highest peak in April. Specifically:

DOJI Group listed the price of SJC gold bars at 122.7-123.9 million VND/tael (buy - sell), a decrease of 500 thousand VND/tael in both buying and selling directions compared to yesterday.

At the same time, the price of SJC gold bars was listed by Saigon Jewelry Company Limited - SJC at 122.7-123.9 million VND/tael (buy - sell), a decrease of 500 thousand VND/tael in both buying and selling directions compared to the closing price on August 8 yesterday.

At Mi Hong Jewelry Company, the price of Mi Hong gold at the time of survey was listed at 123-123.9 million VND/tael for buying and selling. Compared to yesterday, the gold price decreased by 600 thousand VND/tael for buying and 500 thousand VND/tael for selling.

SJC gold price at Bao Tin Minh Chau Company Limited is traded by the enterprise at 122.7-123.9 million VND/tael (buy - sell), the price decreased by 500 thousand VND/tael in both buying and selling directions compared to the same period yesterday.

SJC gold price at Phu Quy is traded by businesses at 121.9-123.9 million VND/tael (buy - sell), gold price decreased 300 thousand VND/tael in buying direction - decreased 500 thousand VND/tael in selling direction compared to yesterday.

As of 9:30 a.m. on August 12, 2025, the price of 9999 Hung Thinh Vuong round gold rings at DOJI was listed at 117-119.5 million VND/tael (buy - sell); the price decreased by 500 thousand VND/tael in both buying and selling directions compared to yesterday.

Bao Tin Minh Chau listed the price of gold rings at 117.3-120.3 million VND/tael (buy - sell); down 500 thousand VND/tael in both buying and selling directions compared to yesterday.

Phu Quy listed the price of Phu Quy 9999 round gold rings at 116.5-119.5 million VND/tael (buy - sell); down 500 thousand VND/tael in both buying and selling directions compared to yesterday.

The latest gold price list today, August 12, 2025 is as follows:

World gold price today August 12, 2025 and world gold price fluctuation chart in the past 24 hours

According to Kitco, the world gold price recorded at 9:30 a.m. on August 12, Vietnam time, was 3,351.06 USD/ounce. Today's gold price decreased by 45.52 USD/ounce compared to yesterday. Converted according to the USD exchange rate at Vietcombank (26,400 VND/USD), the world gold price is about 110.04 million VND/tael (excluding taxes and fees). Thus, the price of SJC gold bars is 13.86 million VND/tael higher than the international gold price.

World gold prices fell sharply when US President Donald Trump announced that he would not impose import taxes on gold bars. This information helped ease market concerns.

Specifically, spot gold prices fell 0.66% after hitting their highest level since July 23 last weekend. US gold futures for December delivery remained stable at $3,402.80 an ounce.

"Investors are now focused on the possibility of a Fed rate cut in September, which is somewhat expected. If the core CPI (excluding food and energy) comes in lower than expected, this could further reinforce expectations for a Fed rate cut," said Kelvin Wong, senior market analyst at OANDA.

“The rate cut will reduce the cost of holding gold. Moreover, the 10-year US Treasury yield is still below a key resistance level, which could support gold prices to rise again,” he added.

All eyes are on the US consumer price index (CPI), due at 12:30 GMT. Economists polled by Reuters expect the core CPI to rise 0.3% in July, pushing the annual inflation rate to 3%, well above the Fed's 2% target.

There is now an 85% chance the Fed will cut interest rates next month, according to the CME FedWatch tool. Gold tends to rise in times of economic uncertainty or when interest rates are low.

President Trump has repeatedly criticized the Fed for not cutting interest rates at recent meetings. In addition, the market is also interested in who will succeed current Fed Chairman Jerome Powell when his term ends next May.

Traders appeared to shrug off a White House report that President Trump had signed an executive order extending a 90-day moratorium on higher tariffs on Chinese imports.

Besides gold prices, spot silver prices increased 0.6% to $37.81/ounce, platinum increased 0.6% to $1,334.24, while palladium increased 0.7% to $1,143.93.

Gold Price Forecast

In Vietnam, gold prices are affected by both international markets and domestic supply and demand. Limited supply and an unconnected market often cause domestic gold prices to be higher than world prices, with the current difference being nearly VND14 million per tael.

The government is studying the establishment of a gold trading floor and amending Decree 24/2012 to narrow the gap and increase transparency. At that time, the “price difference” strategy will be difficult to apply, forcing investors to pay more attention to global gold price trends.

Gold prices fell sharply as the market reacted to the threat of US tariffs disrupting global gold flows, according to expert Han Tan of Nemo.Money. The market is paying special attention to the US consumer price index (CPI) for July, which will be released today. Core inflation is forecast to increase by 0.3%, pushing the annual rate to 3%, above the Fed's 2% target.

According to Mr. Tan, if CPI is lower than expected and reinforces expectations of a Fed rate cut, gold prices could recover above the psychological threshold of $3,400. The recent weaker-than-expected US jobs report has led the market to believe that the Fed will cut interest rates in September by 90%.

Gold prices have been volatile over the past week, especially in the last two trading sessions of the week when news of import tariffs emerged. Some experts still predict that the upward trend will continue. James Stanley, market strategist at Forex.com, said that $3,435/ounce is a notable level because it has been tested many times in May, June and July.

He said the bulls are still in control and could aim for a more important target of $3,500 an ounce. However, he expects the next test to be a steady rise rather than a rapid rise, to avoid a market slowdown.

James Stanley, market strategist at Forex.com, said the $3,435/ounce level was a notable level because it had been tested many times in May, June and July. Darin Newsom, an analyst at Barchart.com, said the news of the gold bullion tariff was not a surprise, as the Trump administration's trade policy was already well-defined.

Rich Checkan, president of Asset Strategies International, said the market needs more time to assess the real impact of this information. Investors are therefore cautious about any unexpected policy changes. Michael Moor, founder of Moor Analytics, warned that if prices fall below some important technical levels, the downward pressure will increase, although the current trend is still strong.