Gold price update morning of August 25: Bright outlook

Gold price update on the morning of August 25: After a week of explosive growth, this week's gold price received positive forecasts from Wall Street experts.

SJC gold bar price

As of 6:00, SJC gold bar price listed by DOJI Group at 125.6-126.6 million VND/tael (buy - sell). The difference between buying and selling prices is at 1 million VND/tael.

SJC gold price movements in recent trading sessions. Chart: Khuong Duy

Meanwhile, Bao Tin Minh Chau listed the price of SJC gold bars at 125.6-126.6 million VND/tael (buy - sell). The difference between the buy and sell prices is at 1 million VND/tael.

Phu Quy Gold and Gemstone Group listed the price of SJC gold bars at 124.6-126.6 million VND/tael (buy - sell). The difference between the buy and sell prices is 2 million VND/tael.

9999 gold ring price

As of 6:00 a.m., DOJI Group listed the price of gold rings at 118.8-121.8 million VND/tael (buy - sell). The difference between buying and selling is 3 million VND/tael.

Bao Tin Minh Chau listed the price of gold rings at 119-122 million VND/tael (buy - sell). The difference between buying and selling is 3 million VND/tael.

Gold ring price movements in recent trading sessions. Chart: Khuong Duy

Phu Quy Gold and Gemstone Group listed the price of gold rings at 118.3-121.3 million VND/tael (buy - sell). The difference between buying and selling is 3 million VND/tael.

Currently, the difference between buying and selling gold rings is at a very high level, around 3 million VND/tael, posing a potential risk of loss for investors.

World gold price

World gold price listed at 6:00 a.m. at $3,370.3/ounce.

World gold price developments in recent trading sessions. Chart: Phan Anh

Gold Price Forecast

Dovish signals from Fed Chairman Jerome Powell at Jackson Hole last week sent the US dollar tumbling, boosting gold and silver prices.

US Federal Reserve Chairman Jerome Powell struck a dovish tone in his highly anticipated speech at the Jackson Hole Symposium, causing significant volatility in currency and commodity markets.

Mr Powell's carefully measured language provided reassurance to traders about the path of monetary policy, particularly the signal that rate cuts are likely to begin next month.

The immediate market reaction was stark: the dollar weakened sharply as investors adjusted their expectations. The dollar index fell 0.90% to 97.73, reflecting the inverse relationship between expectations of monetary easing and the strength of the greenback. The weaker dollar has been a boon for precious metals, which typically benefit in such a climate.

In addition to the FED factor, concerns about the independence of monetary policy also supported gold. US President Donald Trump's statement that he would remove FED Governor Lisa Cook if she did not resign increased concerns about political interference, causing money to flow to safe assets.

Experts and investors predict positive gold prices next week. Chart: Phan Anh

Thirteen market analysts participated in the gold survey this week, and none voted for a decline. Eight analysts, or 62 percent, said gold would rise in the short term. Meanwhile, five analysts, or 38 percent, were neutral on the precious metal.

Meanwhile, an online poll of small investors recorded 194 votes. 115 retail traders (59%) expect gold prices to rise this week, 35 (18%) predict gold will fall, and the remaining 44 (23%) believe gold prices will move sideways in the short term.

Source: https://baoquangninh.vn/cap-nhat-gia-vang-sang-25-8-trien-vong-tuoi-sang-3373038.html