LIVE UPDATE TABLE OF GOLD PRICE TODAY 8/2 and EXCHANGE RATE TODAY 8/2
| 1. PNJ - Updated: August 1, 2023 11:00 PM - Website supply time - ▼ / ▲ Compared to yesterday. | ||
| Type | Buy | Sell |
| HCMC - PNJ | 56,200 | 57,200 |
| HCMC - SJC | 66,600 | 67,200 |
| Hanoi - PNJ | 56,200 | 57,200 |
| Hanoi - SJC | 66,700 ▲100K | 67,300 ▲100K |
| Da Nang - PNJ | 56,200 | 57,200 |
| Da Nang - SJC | 66,600 | 67,200 |
| Western Region - PNJ | 56,200 | 57,200 |
| Western Region - SJC | 66,850 ▲100K | 67,350 ▲100K |
| Jewelry gold price - PNJ rings (24K) | 56,200 | 57,150 |
| Jewelry Gold Price - 24K Jewelry | 56,000 | 56,800 |
| Jewelry Gold Price - 18K Jewelry | 41,350 | 42,750 |
| Jewelry Gold Price - 14K Jewelry | 31,980 | 33,380 |
| Jewelry Gold Price - 10K Jewelry | 22,380 | 23,780 |
World gold prices fell amid a strong USD, while investors were waiting for the US to release important economic data. The latest economic data from the US economy is expected to have an impact on the US Federal Reserve's (Fed) interest rate policy in the fight against inflation.
Recorded by TG&VN at 9:30 p.m. on August 1 (Vietnam time), gold price traded on Kitco floor at 1,945.3 USD/ounce, down 20.20 compared to the previous session. US gold futures were last up 0.5% at $2,009.20 an ounce.
Analysts say the global gold market is lacking momentum to increase prices. Investors are quite cautious and waiting for more information on the US non-farm payroll data expected to be released later this week. Accordingly, the US employment data will be an important indicator for the Fed's interest rate adjustment and this will affect the gold price.
It can be seen that in the precious metals market, investors continue to focus on the US monetary tightening policies and the sharp decrease in the country's money supply. The USDX index is at a 3-week high. The USD and gold usually move in opposite directions. However, according to LaForge's forecast, with the Fed about to end its tightening cycle, gold may be nearing the peak of a long-term bull market.
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| Gold price today August 2, 2023: Gold price was pulled down by USD, still reaching a record increase, surprised by physical gold demand. (Source: Kitco) |
Domestic gold price SJC next The second session of increase, despite the decline in world gold prices. Meanwhile, the price of gold rings fluctuated little, remaining unchanged compared to yesterday's closing session.
The price of SJC gold bars of Saigon Jewelry Company increased by VND100,000/tael for buying and remained unchanged for selling. Thus, after 2 sessions, the price of SJC gold bars increased by VND200,000/tael for buying and increased by VND100,000/tael for selling.
The difference between the buying and selling prices of domestic gold bars currently fluctuates between VND500,000-700,000/tael. World gold converted to the USD exchange rate at Vietcombank is nearly VND56.28 million/tael (excluding taxes and fees). The price of SJC gold bars is about VND11.09 million/tael higher than the international gold price.
Summary of SJC gold prices at major domestic trading brands at the close of trading session at the beginning of the week (August 1):
Saigon Jewelry Company listed the price of SJC gold at 66.55 - 67.25 million VND/tael.
Doji Group currently lists the price of SJC gold at: 66.55 - 67.25 million VND/tael.
PNJ system listed at: 66.6 - 67.2 million VND/tael.
SJC gold price at Bao Tin Minh Chau is listed at: 66.65 - 67.23 million VND/tael; Rong Thang Long gold brand is traded at 56.21 - 57.06 million VND/tael; jewelry gold price is traded at 55.55 - 56.75 million VND/tael.
Gold price
Gold saw a record average price in the second quarter, supported by physical demand. According to the latest research by the World Gold Council (WGC), persistent economic uncertainty has created strong physical demand for gold, which has supported prices at record levels in the second quarter of 2023.
In the Gold Demand Trends for Q2/2023, the WGC noted that the world gold price reached a record average price of 1,976/ounce, up 6% compared to the second quarter of 2022 and up 4% compared to the previous record high recorded in Q3/2020.
The banking crisis in May, when several US and European banks collapsed, created a significant risk event that boosted physical gold demand, said Juan Carlos Artigas, head of research at the WGC. Global uncertainty is “supporting” strong jewelry sales in key markets such as China.
“The fact that gold demand was quite strong during the second quarter is a sign that many investors continue to include gold in their portfolios,” said expert Juan Carlos.
The WGC report shows that rising demand from China is playing a vital role in the global gold market. China's physical gold demand totaled 49.3 tonnes, up 32% year-on-year. Global demand rose 6% to 277.5 tonnes, with a surge in Türkiye and the Middle East.
The growth in demand appears to be at odds with the net buying trend in the futures market, which fell by around 150 tonnes during the quarter, to around 477 tonnes at the end of June,” the analysts wrote in the report.
The latest Gold Trends Report highlights the global importance of the gold market, Artigas noted. “The precious metals market is not driven by just one sector or region. Gold’s rise as a globally important asset will add to its stability.
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