Gold price today August 18: Just opened, already reached the peak

At the beginning of the week, on August 18, the price of SJC gold bars was listed by Saigon Jewelry Company (SJC) at 123.7 million VND per tael for buying and 124.7 million VND per tael for selling, an increase of 200,000 VND per tael compared to the end of last week.

Gold bar prices continued to increase as soon as the new trading week opened, after 3 consecutive weeks of 3 prices and returned to the historical peak.

On the free market, some small shops traded SJC gold bars at around VND124.5 million/tael for buying and VND125.5 million/tael for selling, down VND300,000 compared to yesterday. However, the price of SJC gold bars in the free market is still higher than that of large gold companies, and is at a historical peak.

Giá vàng hôm nay 18 - 8: Dự báo tăng trưởng và xu hướng Trên thị trường quốc tế - Ảnh 2. — SJC gold bar price returns to peak

Similarly, the price of 99.99% gold rings and jewelry gold also continued to increase when businesses pushed it up to 116.8 million VND/tael for buying and 119.3 million VND/tael for selling, an increase of 200,000 VND/tael compared to the end of last week.

In the international market, gold prices also increased today when the trading week opened. At 8:45 a.m., Vietnam time, the world gold price was traded at 3,345 USD/ounce, up about 10 USD/ounce compared to the end of last week, breaking the decline streak last week.

Gold price forecast difficult to break out

However, this week, analysts said that gold prices will still find it difficult to break out in the short term when the market lacks momentum to increase. Factors that have supported gold prices to rise strongly in recent times, such as US tariff policies and geopolitical tensions in some regions, are all easing.

Despite rising inflation data and a slight increase in interest rates, gold prices are still moving sideways in a narrow range, suggesting that gold is becoming less attractive to investors and could fall below $3,000 an ounce this year, said Daniel Pavilonis, senior commodities broker at RJO Futures.

"If the US starts cutting interest rates and inflation rises higher, that could be a positive signal for gold. However, gold prices have been flat for the past four months and the short-term upside momentum is not high," said Mr. Daniel Pavilonis.

Currently, the world gold price converted according to the listed exchange rate is about 106.7 million VND/tael, about 18 million VND/tael lower than the price of SJC gold bars.