Domestic SJC gold price decreased by 100,000 VND/tael compared to the closing price of last week, world gold price also decreased to 1,159 USD/oz.

Opening the first trading session this week (August 24), the domestic SJC gold price was at 35.20 million VND/tael, down 100,000 VND/tael compared to the closing session on August 22.

World gold prices slightly decreased in the morning trading session on August 24 on the New York floor.

Specifically, according to the listing of Saigon Jewelry Company, the buying and selling price of gold is at 34.70 - 35.20 million VND/tael. DOJI Group listed the gold price at 34.75 million VND/tael (buy). The selling price is at 35.05 million VND/tael.

The difference between buying and selling gold prices in Hanoi is 300,000 VND/tael and in Ho Chi Minh City is 500,000 VND/tael.

The world gold price, after increasing sharply by 9 USD/oz at the end of last week (August 22) to 1,161 USD/oz, has now slightly decreased in the morning trading session on August 24 on the New York floor.

The spot gold price is currently at $1,159/oz, the gold price for December delivery decreased to $1,157/oz. However, according to economic experts, the gold price this week may continue to benefit from the instability in China that may affect the FED's decision to raise interest rates.

Some economists also believe that the worsening economic situation has forced China to devalue the yuan. If the situation does not improve, or even worsens, China could become a factor that causes the Fed to delay raising interest rates, at least until December. This would be bad for the USD, but good for gold.

On the other hand, as expectations of a Fed rate hike in September decline, a weaker US dollar and stock market are expected to continue pushing gold prices higher.

World gold price converted to Vietnamese currency at the exchange rate of 22,460 VND/USD is equivalent to 31.36 million VND/tael, 3.84 million VND/tael lower than SJC gold./.

According to VOV