Gold price at noon on August 7: 9999 gold ring decreased following world gold price
Gold price today, August 7: Gold ring price continues to drop to 77.3 million VND/tael. World gold price today continues to drop below the 2,400 USD mark.
Domestic gold price at noon on August 7
At 10:00 a.m. on August 7, DOJI gold bar prices in Hanoi and Ho Chi Minh City were listed unchanged from the previous session, with the buying price at VND77 million/tael and the selling price at VND79 million/tael.
The price of Doji Hung Thinh Vuong 9999 gold ring has a slight decrease of 100,000 VND, listed at 76.1 million VND/tael for buying and 77.3 million VND/tael for selling.
Saigon Jewelry Company kept the buying and selling price of SJC gold bars unchanged at 77-79 million VND/tael, while the price of SJC 9999 gold rings decreased by 350,000 VND for buying and 150,000 VND for selling, listed at 75.8 and 77.3 million VND/tael, respectively.
PNJ announced the gold buying price at 76 million VND/tael and selling price at 77.29 million VND/tael, down 200,000 VND and 160,000 VND compared to the previous trading session.
Latest gold price list August 7
| DOJI | Buy | Sell |
|---|---|---|
| AVPL/SJC HN | 77,000 | 79,000 |
| AVPL/SJC HCM | 77,000 | 79,000 |
| AVPL/SJC DN | 77,000 | 79,000 |
| Raw material 9999 - HN | 75,500 ▼200K | 76,200 ▼200K |
| Raw material 999 - HN | 75,400 ▼200K | 76,100 ▼200K |
| AVPL/SJC Can Tho | 77,000 | 79,000 |
| Updated: 8/7/2024 11:30 | ||
| PNJ | Buy | Sell |
|---|---|---|
| HCMC - PNJ | 76,000 ▼200K | 77,290 ▼160K |
| HCMC - SJC | 77,000 | 79,000 |
| Hanoi - PNJ | 76,000 ▼200K | 77,290 ▼160K |
| Hanoi - SJC | 77,000 | 79,000 |
| Da Nang - PNJ | 76,000 ▼200K | 77,290 ▼160K |
| Da Nang - SJC | 77,000 | 79,000 |
| Western Region - PNJ | 76,000 ▼200K | 77,290 ▼160K |
| Western Region - SJC | 77,000 | 79,000 |
| Jewelry gold price - PNJ | 76,000 ▼200K | 77,290 ▼160K |
| Jewelry gold price - SJC | 77,000 | 79,000 |
| Jewelry gold price - Southeast | PNJ | 76,000 ▼200K |
| Jewelry gold price - SJC | 77,000 | 79,000 |
| Jewelry gold price - Jewelry gold price | PNJ 999.9 Plain Ring | 76,000 ▼200K |
| Jewelry gold price - Jewelry gold 999.9 | 75,900 ▼200K | 76,700 ▼200K |
| Jewelry gold price - Jewelry gold 999 | 75,820 ▼200K | 76,620 ▼200K |
| Jewelry gold price - Jewelry gold 99 | 75,030 ▼200K | 76,030 ▼200K |
| Jewelry gold price - 916 gold (22K) | 69,860 ▼180K | 70,360 ▼180K |
| Jewelry gold price - 750 gold (18K) | 56,280 ▼150K | 57,680 ▼150K |
| Jewelry gold price - 680 gold (16.3K) | 50,910 ▼130K | 52,310 ▼130K |
| Jewelry gold price - 650 gold (15.6K) | 48,610 ▼130K | 50,010 ▼130K |
| Jewelry gold price - 610 gold (14.6K) | 45,540 ▼120K | 46,940 ▼120K |
| Jewelry gold price - 585 gold (14K) | 43,620 ▼120K | 45,020 ▼120K |
| Jewelry gold price - 416 gold (10K) | 30,660 ▼80K | 32,060 ▼80K |
| Jewelry gold price - 375 gold (9K) | 27,510 ▼80K | 28,910 ▼80K |
| Jewelry gold price - 333 gold (8K) | 24,060 ▼70K | 25,460 ▼70K |
| Updated: 8/7/2024 11:30 | ||
| SJC | Buy | Sell |
|---|---|---|
| SJC 1L, 10L, 1KG | 77,000 | 79,000 |
| SJC 5c | 77,000 | 79,020 |
| SJC 2c, 1c, 5c | 77,000 | 79,030 |
| SJC 99.99 gold ring 1 chi, 2 chi, 5 chi | 75,900 ▼250K | 77,300 ▼150K |
| SJC 99.99 gold ring 0.3 chi, 0.5 chi | 75,900 ▼250K | 77,400 ▼150K |
| Jewelry 99.99% | 75,800 ▼200K | 76,800 ▼200K |
| Jewelry 99% | 74,040 ▼198K | 76,040 ▼198K |
| Jewelry 68% | 49,879 ▼136K | 52,379 ▼136K |
| Jewelry 41.7% | 29,679 ▼83K | 32,179 ▼83K |
| Updated: 8/7/2024 11:30 | ||
World gold price at noon on August 7
At 9:30 a.m. on August 7, the global gold price decreased by 27.3 USD, reaching 2,383.1 USD/ounce, continuing the downward trend from the previous trading session.
Gold prices fell for a fourth consecutive session after seeing a significant increase last week, due to investor selling pressure and a stronger US dollar and bond yields.
Rhona O'Connell, head of commodities at StoneX Bullion, said gold is under short-term pressure due to volatility in equity markets, with declines in Asia and Europe, as well as a decline in US stocks.
Ms. O'Connell predicts that, although gold prices will fall in the short term, the precious metal will recover and surpass the support level of $2,400/ounce.
Gold's long-term outlook is seen as positive, due to persistent economic and political uncertainties, along with expectations that the FED will cut interest rates.
The USD-Index rose to 103.25 points, the yield on 10-year US Treasury bonds reached 3.903%, while US stocks recovered from the previous shock; oil prices remained stable at 76.52 USD/barrel for Brent oil and 73.3 USD/barrel for WTI oil.
What factors will affect the gold market in the coming time?
Dr. Nguyen Tri Hieu, Director of the Institute for Research and Development of Global Financial and Real Estate Markets, commented that the price of gold could reach 2,500 USD/ounce this year and is likely to increase to 3,000 USD/ounce next year.
Vietnam's economy is heavily influenced by US monetary policy, with any changes from the US likely to have a strong impact on Vietnam's financial policies and markets.
The reduction in interest rates in the US is expected to have a positive impact on the Vietnamese currency market, reducing pressure on exchange rates.
Deputy Governor of the State Bank of Vietnam Dao Minh Tu emphasized the possibility of fluctuations in the gold market based on the US election results and central banks buying gold to replace national reserves.
Increased global gold demand could push gold prices up, affecting the Vietnamese gold market.