Gold price today August 7, 2024: All plummeted
Gold price today August 7, 2024, Domestic and world gold prices plummeted due to the stronger dollar and higher bond yields.
Domestic gold price today August 7, 2024
As of 5:00 a.m. on August 7, 2024, the price of 9999 gold at DOJI was 77 million VND/tael for buying and 79 million VND/tael for selling.
SJC gold price listed by Mi Hong at the time of survey was 78-79 million VND/tael for buying and selling.
SJC gold price of Bao Tin Minh Chau and Bao Tin Manh Hai is currently 77.10 million VND for buying and 79 million VND for selling.
The latest gold price list today, August 7, 2024 is as follows:
| Gold price today | August 7, 2024 (Million VND) | Difference (thousand dong/tael) | ||
| Buy | Sell out | Buy | Sell out | |
| SJC in Hanoi | 77.0 | 79.0 | -1300 | -800 |
| DOJI Group | 77.0 | 79.0 | -1300 | -800 |
| Mi Hong | 78.0 | 79.0 | -300 | -800 |
| PNJ | 77.0 | 79.0 | -1300 | -800 |
| Vietinbank Gold | - | 79.0 | - | -800 |
| Bao Tin Minh Chau | 77.10 | 79.0 | -1200 | -800 |
| Bao Tin Manh Hai | 77.10 | 79.0 | -1200 | -800 |
| 1.DOJI- Updated: 08/06/2024 15:43 - Source website time - ▼/▲ Compared to yesterday. | ||
| Type | Buy | Sell out |
| AVPL/SJC HN | 77,000 | 79,000 |
| AVPL/SJC HCM | 77,000 | 79,000 |
| AVPL/SJC DN | 77,000 | 79,000 |
| Raw materials 9999 - HN | 75,700 | 76,400 |
| Raw materials 999 - HN | 75,600 | 76,300 |
| AVPL/SJC Can Tho | 77,000 | 79,000 |
| 2.PNJ- Updated: 08/07/2024 05:30 - Source website time - ▼/▲ Compared to yesterday. | ||
| Type | Buy | Sell out |
| HCMC - PNJ | 76,200 | 77,450 |
| HCMC - SJC | 77,000 | 79,000 |
| Hanoi - PNJ | 76,200 | 77,450 |
| Hanoi - SJC | 77,000 | 79,000 |
| Da Nang - PNJ | 76,200 | 77,450 |
| Da Nang - SJC | 77,000 | 79,000 |
| Western Region - PNJ | 76,200 | 77,450 |
| Western Region - SJC | 77,000 | 79,000 |
| Jewelry gold price - PNJ | 76,200 | 77,450 |
| Jewelry gold price - SJC | 77,000 | 79,000 |
| Jewelry gold price - Southeast | PNJ | 76,200 |
| Jewelry gold price - SJC | 77,000 | 79,000 |
| Jewelry gold price - Jewelry gold price | PNJ 999.9 Plain Ring | 76,200 |
| Jewelry gold price - Jewelry gold 999.9 | 76,100 | 76,900 |
| Jewelry gold price - 999 jewelry gold | 76,020 | 76,820 |
| Jewelry gold price - 99 jewelry gold | 75,230 | 76,230 |
| Jewelry gold price - 916 gold (22K) | 70,040 | 70,540 |
| Jewelry gold price - 750 gold (18K) | 56,430 | 57,830 |
| Jewelry gold price - 680 gold (16.3K) | 51,040 | 52,440 |
| Jewelry gold price - 650 gold (15.6K) | 48,740 | 50,140 |
| Jewelry gold price - 610 gold (14.6K) | 45,660 | 47,060 |
| Jewelry gold price - 585 gold (14K) | 43,740 | 45,140 |
| Jewelry gold price - 416 gold (10K) | 30,740 | 32,140 |
| Jewelry gold price - 375 gold (9K) | 27,590 | 28,990 |
| Jewelry gold price - 333 gold (8K) | 24,130 | 25,530 |
World gold price today August 7, 2024 and world gold price fluctuation chart in the past 24 hours
The world gold price today at 5:00 a.m. on August 7 (Vietnam time) was reported by Kitco at 2,390.43 USD/ounce, down 19.45 USD compared to the previous day. According to the current exchange rate of Vietcombank, the converted gold price is about 71.655 million VND/tael, excluding taxes and fees. The domestic SJC gold price is still higher than the world price, with a difference of 5.345 million VND/tael.
A stronger US dollar and rising bond yields put downward pressure on gold, despite expectations of a US rate cut in September and geopolitical tensions in the Middle East.
The US Dollar Index (DXY) recorded a slight gain of 0.2%, surpassing the Japanese Yen on the first trading day of the month, increasing the price of gold in dollars, thereby affecting the buying demand of international investors. The yield of 10-year US bonds continued to rise.
Amelia Xiao Fu, Director of Commodity Markets at BOCI, commented that although gold is affected by the strength of the US dollar, the macro outlook for gold remains positive, with the possibility of price fluctuations in the near term.
Tensions escalated as Hezbollah launched a series of attacks on northern Israel using drones and missiles.
Federal Reserve policymakers pushed back against the view that weak July jobs data was a sign of an economic downturn, warning of the need to cut interest rates to prevent it.
Gold is considered a safe investment in times of economic uncertainty and is often favored in low interest rate environments.
Fawad Razaqzada, an analyst at Forex.com, said expectations of lower interest rates from central banks will support gold prices and could even push them to new highs. He also predicted that gold prices could hit $2,500 in the short term.
