Gold price today (August 27): "Dizzying" increase

The domestic gold market this morning (August 27) continued to witness very strong fluctuations when the price of SJC gold bars continued to increase at a "dizzying" speed, creating a large gap compared to the world gold price. The domestic gold bar price is currently trading at 127.7 million VND/tael sold.

Domestic gold bar price today

SJC increased the price of gold bars by 100,000 VND/tael for buying and 600,000 VND/tael for selling, trading at 125.7 - 127.7 million VND/tael, respectively.

The brands PNJ, Bao Tin Minh Chau, DOJI simultaneously increased the price of gold bars by 500,000 VND/tael for buying and 600,000 VND/tael for selling, trading at 126.1 - 127.7 million VND/tael, respectively.

Phu Quy SJC kept the buying price stable and increased the selling price by 600,000 VND/tael, trading at 125.1 - 127.7 million VND/tael respectively.

Domestic gold bar prices updated on the morning of August 27 as follows:

Yellow	Early morning 26-8				Early morning 27-8			Difference
	Buy	Sell			Buy	Sell		Buy	Sell
	Unit of measure: Million VND/tael							Unit of measure: Thousand dong/tael
DOJI	125.6		127.1		126.1		127.7	+ 500	+ 600
SJC	125.6		127.1		125.7		127.7	+100	+ 600
PNJ	125.6		127.1		126.1		127.7	+ 500	+ 600
Bao Tin Minh Chau	125.6		127.1	126.1			127.7	+ 500	+ 600
Phu Quy SJC	125.1		127.1	125.1			127.7	-	+ 600

Domestic gold ring price today

Same direction as gold bar price, Today's gold ring price increased in most brands, selling price at 122.1 - 122.6 million VND/tael.

SJC listed gold rings at 119.6 - 122.1 million VND/tael (buy - sell), up 500,000 VND/tael in both directions.

DOJI brand gold rings are traded at 119.3 - 122.3 million VND/tael (buy - sell), up 500,000 VND/tael in both directions.

PNJ ring gold is currently at 119.6 - 122.6 million VND/tael (buy - sell), an increase of 500,000 VND/tael for buying and an increase of 800,000 VND/tael for selling.

Phu Quy brand gold rings were traded at 119.2 - 122.2 million VND/tael (buy - sell), an increase of 400,000 VND/tael in both directions.

Bao Tin Minh Chau increased the price of gold rings by 400,000 VND/tael in both directions, currently trading at 119.6 - 122.6 million VND/tael (buy - sell).

* Compared to the beginning of this year, each tael of gold bar has increased by about 43 million VND, equivalent to 50%, while gold rings have increased by more than 43%.

Gold price today (August 27): Approaching 128 million VND/tael. Illustration photo: vneconomy.vn

World gold price today

In the world gold market, spot gold price was recorded at around 3,390 USD/ounce, up about 24 USD/ounce compared to yesterday morning.

Converted according to Vietcombank exchange rate, the world gold price is equivalent to about 108.7 million VND/tael, 19 million VND/tael lower than SJC gold bars and 14 million VND/tael lower than gold rings. This is the biggest difference ever.

Photo: CNN

The reason for the increase in gold prices is due to the weakening of the USD after US President Donald Trump announced the dismissal of US Federal Reserve Governor Lisa Cook, citing allegations of wrongdoing related to mortgage records. This information helped gold benefit as capital flows into gold as a safe haven.

Meanwhile, recently, Fed Chairman Jerome Powell signaled that interest rates could be cut at the meeting in September. Gold is a non-interest-bearing asset, so gold prices tend to increase in a low-interest-rate environment.

This week, the market will closely monitor the US Personal Consumption Expenditures Price Index (PCE) report, which will be released on August 29. As the Fed's inflation gauge, this PCE data will be an important clue for investors to predict the Fed's interest rate cut plan.

Forecasting the world gold price trend, according to experts, gold is still the leading safe haven in the current context. The prospect of the Fed soon reversing its policy will weaken the USD, creating momentum for the world gold market. Moreover, increasing geopolitical instability around the world also makes investors seek gold as a safe place to protect assets.

However, analysts say the possibility of a strong breakout in the price of precious metals in the short term is quite low. Gold prices are unlikely to return to the historical peak of 3,500 USD/ounce set in April this year, at least in the coming weeks.

Source: https://baolangson.vn/gia-vang-hom-nay-27-8-tang-chong-mat-5057193.html