At the beginning of the week, gold prices rose above 38 million VND.

Gold prices are rising. (Illustrative image)

On Monday (August 12th), Saigon Jewelry Company listed gold prices at 37.75 million VND/ounce (buying) - 38.05 million VND/ounce (selling), an increase of 150,000 VND per ounce compared to the end of last week. PNJ traded at 37.80 million VND/ounce - 38 million VND/ounce.

Doji Group is quoting retail gold prices at 37.8 million VND/ounce - 38.06 million VND/ounce and wholesale prices at 37.81 million VND/ounce - 38.05 million VND/ounce. Compared to the closing price of last weekend's trading session, the price of SJC gold has been adjusted upwards by 120,000 VND/ounce and 200,000 VND/ounce respectively.

Over the past week, gold prices have remained stable around 38 million VND. Therefore, compared to the week before last, the price has only increased by 150,000 VND per tael. The difference between domestic and international gold prices continues to be high, reaching as high as 5 million VND per tael at times. This morning, the difference was 4.2 million VND per tael.

On the global market, the spot gold price in Asia this morning was $1,331.2 per ounce, an increase of $16 per ounce. At the close of trading last weekend, the spot gold price rose slightly to $1,314.7 per ounce; while the December gold futures price increased by 0.2%, to $1,312.2 per ounce.

Positive news from China is supporting commodity prices, as the country's import and export figures exceeded expectations and previous forecasts, indicating signs of strong economic growth. Positive developments from the Chinese market are always a factor that helps precious metal prices in particular, and commodity markets in general, to rise.

In addition, a series of positive news from the EU, represented by Germany and the UK, also helped the EUR to rise sharply. The USD index corrected downwards to its lowest level in 6 weeks, and the inverse correlation between the greenback and gold supported the price of the precious metal to remain above the $1,300/ounce mark.

According to Kitco's survey of 18 people regarding gold prices this week, two-thirds believe prices will rise, four think prices will remain stable, and the rest believe prices will stay flat. The survey results were collected from gold traders, investment banks, futures traders, money market managers, and technical analysts.

According to HNMO - TH