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Gold price today 8/7/2024: All plummeted

Hung CuongDNUM_AHZAIZCACE 06:45

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.

Giá vàng hôm nay 7/8/2024: Đồng loạt lao dốc

The latest gold price list today, August 7, 2024 is as follows:

Gold price today
August 7, 2024
(million dong)
Difference
(thousand dong/tael)
Buy
Sell
Buy
Sell
SJC in Hanoi
77.0
79.0
-1300
-800
DOJI Group
77.0
79.0
-1300
-800
Red Eyelashes
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 - Time of the source website - ▼/▲ Compared to yesterday.
TypeBuySell
AVPL/SJC HN77,00079,000
AVPL/SJC HCM77,00079,000
AVPL/SJC DN77,00079,000
Raw material 9999 - HN75,70076,400
Raw material 999 - HN75,60076,300
AVPL/SJC Can Tho77,00079,000
2.PNJ- Updated: 08/07/2024 05:30 - Source website time - ▼/▲ Compared to yesterday.
TypeBuySell
HCMC - PNJ76,20077,450
HCMC - SJC77,00079,000
Hanoi - PNJ76,20077,450
Hanoi - SJC77,00079,000
Da Nang - PNJ76,20077,450
Da Nang - SJC77,00079,000
Western Region - PNJ76,20077,450
Western Region - SJC77,00079,000
Jewelry gold price - PNJ76,20077,450
Jewelry gold price - SJC77,00079,000
Jewelry gold price - SoutheastPNJ76,200
Jewelry gold price - SJC77,00079,000
Jewelry gold price - Jewelry gold pricePNJ 999.9 Plain Ring76,200
Jewelry gold price - Jewelry gold 999.976,10076,900
Jewelry gold price - Jewelry gold 99976,02076,820
Jewelry gold price - Jewelry gold 9975,23076,230
Jewelry gold price - 916 gold (22K)70,04070,540
Jewelry gold price - 750 gold (18K)56,43057,830
Jewelry gold price - 680 gold (16.3K)51,04052,440
Jewelry gold price - 650 gold (15.6K)48,74050,140
Jewelry gold price - 610 gold (14.6K)45,66047,060
Jewelry gold price - 585 gold (14K)43,74045,140
Jewelry gold price - 416 gold (10K)30,74032,140
Jewelry gold price - 375 gold (9K)27,59028,990
Jewelry gold price - 333 gold (8K)24,13025,530

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 have 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 Commodities Market 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 that expectations of interest rate cuts from central banks will support gold prices and may even push them to new highs. He also predicted that gold prices could hit $2,500 in the short term.

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Gold price today 8/7/2024: All plummeted
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