Gold price today August 27, 2024: Gold rings increase close to 79 million VND mark
Gold price today August 27, 2024: Gold ring price approaches 79 million VND. World gold prices are rising, countries are buying gold to increase their gold reserves.
Domestic gold price today August 27, 2024
At the time of survey at 5:00 a.m. on August 27, 2024, the gold price on the trading floors of some companies was as follows:
The price of 9999 gold today is listed by DOJI at 77.35 million VND/tael for buying and 78.55 million VND/tael for selling. A slight increase of 150,000 VND/kg for both buying and selling.
At Mi Hong Jewelry Company, the price of Mi Hong gold at the time of survey was listed at 80-81 million VND/tael (buy - sell).
SJC gold price at Bao Tin Minh Chau Company Limited is also traded by the enterprise at 79-81 million VND/tael (buy in - sell out). Meanwhile, at Bao Tin Manh Hai, it is being traded at 79-81 million VND/tael (buy in - sell out).
The latest gold price list today, August 27, 2024 is as follows:
| Gold price today | August 27, 2024 (Million VND) | Difference (thousand dong/tael) | ||
| Buy | Sell out | Buy | Sell out | |
| SJC in Hanoi | 79 | 81 | - | - |
| DOJI Group | 79 | 81 | - | - |
| Mi Hong | 80 | 81 | - | - |
| PNJ | 79 | 81 | - | - |
| Vietinbank Gold | - | 81 | - | - |
| Bao Tin Minh Chau | 79 | 81 | - | - |
| Bao Tin Manh Hai | 79 | 81 | - | - |
| 1.DOJI- Updated: 08/27/2024 04:30 - Source website time - ▼/▲ Compared to yesterday. | ||
| Type | Buy | Sell out |
| AVPL/SJC HN | 79,000 | 81,000 |
| AVPL/SJC HCM | 79,000 | 81,000 |
| AVPL/SJC DN | 79,000 | 81,000 |
| Raw material 9999 - HN | 77,200▲350K | 77,500▲150K |
| Raw materials 999 - HN | 77,100▲350K | 77,400▲150K |
| AVPL/SJC Can Tho | 79,000 | 81,000 |
| 2.PNJ- Updated: 08/27/2024 04:30 - Source website time - ▼/▲ Compared to yesterday. | ||
| Type | Buy | Sell out |
| HCMC - PNJ | 77,300▲100K | 78,500▲100K |
| HCMC - SJC | 79,000 | 81,000 |
| Hanoi - PNJ | 77,300▲100K | 78,500▲100K |
| Hanoi - SJC | 79,000 | 81,000 |
| Da Nang - PNJ | 77,300▲100K | 78,500▲100K |
| Da Nang - SJC | 79,000 | 81,000 |
| Western Region - PNJ | 77,300▲100K | 78,500▲100K |
| Western Region - SJC | 79,000 | 81,000 |
| Jewelry gold price - PNJ | 77,300▲100K | 78,500▲100K |
| Jewelry gold price - SJC | 79,000 | 81,000 |
| Jewelry gold price - Southeast | PNJ | 77,300▲100K |
| Jewelry gold price - SJC | 79,000 | 81,000 |
| Jewelry gold price - Jewelry gold price | PNJ 999.9 Plain Ring | 77,300▲100K |
| Jewelry gold price - Jewelry gold 999.9 | 77,200▲100K | 78,000▲100K |
| Jewelry gold price - 999 jewelry gold | 77,120▲100K | 77,920▲100K |
| Jewelry gold price - 99 jewelry gold | 76,320▲100K | 77,320▲100K |
| Jewelry gold price - 916 gold (22K) | 71,050▲90K | 71,550▲90K |
| Jewelry gold price - 750 gold (18K) | 57,250▲70K | 58,650▲70K |
| Jewelry gold price - 680 gold (16.3K) | 51,790▲70K | 53,190▲70K |
| Jewelry gold price - 650 gold (15.6K) | 49,450▲60K | 50,850▲60K |
| Jewelry gold price - 610 gold (14.6K) | 46,330▲60K | 47,730▲60K |
| Jewelry gold price - 585 gold (14K) | 44,380▲60K | 45,780▲60K |
| Jewelry gold price - 416 gold (10K) | 31,200▲40K | 32,600▲40K |
| Jewelry gold price - 375 gold (9K) | 28,000▲40K | 29,400▲40K |
| Jewelry gold price - 333 gold (8K) | 24,490▲30K | 25,890▲30K |
| 3.SJC- Updated: 08/27/2024 04:30 - Source website time - ▼/▲ Compared to yesterday. | ||
| Type | Buy | Sell out |
| SJC 1L, 10L, 1KG | 79,000 | 81,000 |
| SJC 5c | 79,000 | 81,020 |
| SJC 2c, 1C, 5 phan | 79,000 | 81,030 |
| SJC 99.99 gold ring 1 chi, 2 chi, 5 chi | 77,300▲200K | 78,550▲150K |
| SJC 99.99 gold ring 0.3 chi, 0.5 chi | 77,300▲200K | 78,650▲150K |
| 99.99% Jewelry | 77,200▲250K | 78,150▲200K |
| 99% Jewelry | 75,376▲198K | 77,376▲198K |
| Jewelry 68% | 50,797▲136K | 53,297▲136K |
| Jewelry 41.7% | 30,242▲84K | 32,742▲84K |
World gold price today August 27, 2024 and world gold price fluctuation chart in the past 24 hours
According to Kitco, the world gold price recorded at 5:00 a.m. today, Vietnam time, was 2,513.88 USD/ounce. Today's gold price increased by 3.02 USD/ounce compared to yesterday's gold price. Converted according to the USD exchange rate on the free market (25,300 VND/USD), the world gold price is about 77.53 million VND/tael (excluding taxes and fees). Thus, the price of SJC gold bars is 3.46 million VND/tael higher than the international gold price.
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Gold prices are rising globally, and countries are buying gold to diversify and protect their reserves. The World Gold Council (WGC) believes that gold is an ideal national reserve asset because it is safe, easily convertible into cash, and has the ability to generate income.
In recent years, countries have been steadily increasing their gold reserves. Central banks around the world have been buying gold steadily and rapidly, now holding about 20% of all the gold ever mined.
In the first half of 2024, central banks bought 483 tonnes of gold, an all-time high. Türkiye was the top buyer with 45 tonnes, followed by India with 37 tonnes. Countries such as Jordan, Qatar, Uzbekistan and Iraq also joined in the buying. Central banks in emerging markets remain optimistic about the role of gold in foreign exchange reserves.
China, traditionally a top buyer of gold, has temporarily halted its purchases. The People's Bank of China (PBOC) recently allowed some domestic banks to import gold through new quotas. If Chinese demand for gold picks up again, gold prices could continue to rise.
By the end of July 2024, the PBOC held 72.8 million ounces of gold. In 2023, the PBOC bought a net 7.23 million ounces of gold, making it the largest buyer, according to WGC data.
Gold price forecast
Gold prices are likely to rise to new highs this year due to an unstable global economy and plans by the US Federal Reserve to cut interest rates, economists say. A recent Kitco News survey found that the majority of experts and individual investors expect gold prices to continue to rise.
Alex Ebkarian, CEO of Allegiance Gold, predicts that if the Fed cuts interest rates, gold prices could rise to $2,600 an ounce.
Phillip Streible, Chief Market Strategist at Blue Line Futures, also believes gold prices could reach $2,600 an ounce before facing selling pressure to take profits.
The market is currently very optimistic that the Fed will cut interest rates in September and possibly further by the end of the year, which increases confidence in the bullish outlook for gold until the end of the year.
