Gold price today August 20: Decreased but still 19.2 million VND/tael higher than the world

Saigon Jewelry Company - SJC reduced the price of gold bars by 200,000 VND per tael, buying at 123.8 million VND, selling at 124.8 million VND. Mi Hong Company reduced the price by 200,000 VND per tael, selling at 124.8 million VND, buying at 124.2 million VND. Phu Quy Company kept the buying price at 123 million VND, selling at 125 million VND...

Meanwhile, the price of gold rings decreased from 100,000 - 200,000 VND per tael, Phu Quy Company bought 116.5 million VND, sold 119.5 million VND. SJC Company bought 117 million VND, sold 119.6 million VND... The rate of decrease in domestic gold prices is slower than the world . This makes SJC gold bars higher at 19.2 million VND/tael, and gold rings higher at 14 million VND/tael.

SJC gold bar price is 19 million VND/tael higher than the world price. PHOTO: NGOC THANG

World gold prices fell another $2/ounce to $3,314. In the US trading session (night of August 20), the precious metal slid from $3,342 to $3,311. Gold selling by investors caused gold to fall sharply. Traders and investors are waiting for the important annual economic policy symposium of the Federal Reserve of Kansas City, which opens on Thursday evening in Jackson Hole, Wyoming. Fed Chairman Jerome Powell is expected to announce the Fed's new policy framework at the conference on Friday. Mr. Powell's speech could provide the market with a new update on the level of support for a US interest rate cut in September.

Several key US economic data have unexpectedly fallen in recent weeks, while a stronger-than-expected PPI reading reminded markets that inflationary pressures from US President Donald Trump’s tariff policies could still be on the cards. While that news has temporarily dampened expectations for a larger or faster series of rate cuts, markets are still pricing in a strong likelihood of a 25 basis point cut at the September Federal Open Market Committee (FOMC) meeting.

Not only gold but stocks also fluctuated in opposite directions. The S&P 500 index decreased 0.59% to 6,411.37 points, the Nasdaq Composite index lost 1.46% to 21,314.95 points, while the Dow Jones index increased 10.45 points (equivalent to 0.02%) to 44,922.27 points./.

According to Bao Nien

Source: https://thanhnien.vn/gia-vang-hom-nay-2082025-giam-nhung-van-cao-hon-the-gioi-192-trieu-dong-luong-18525082008360219.htm

Source: https://baolongan.vn/gia-vang-hom-nay-20-8-giam-nhung-van-cao-hon-the-gioi-19-2-trieu-dong-luong-a201011.html