Gold price today August 7: Whether it increases or decreases, buyers immediately lose 2.5 million

Domestic gold prices remained stable but buyers continued to suffer immediate losses of 2.5 million VND per tael.

On the morning of August 7, the price of gold bars at Saigon Jewelry Company - SJC remained unchanged with a buying price of 122.4 million VND and a selling price of 123.8 million VND. Other companies also had the same selling price of gold bars as SJC Company...

Similarly, 4-number 9 gold rings at SJC Company were bought at 116.8 million VND and sold at 119.3 million VND; Phu Nhuan Jewelry Company (PNJ) continued to buy gold rings at 117.5 million VND and sold at 120 million VND; Doji Group bought at 117.5 million VND and sold at 120 million VND... The difference between buying and selling gold rings remained at 2.5 million VND/tael, so buyers still suffered a loss of this level when buying.

Gold price on the morning of August 7 remained stable and buyers immediately lost 2.5 million VND/tael. PHOTO: NGOC THANG

World gold prices moved sideways around $3,379/ounce. Previously, gold had three consecutive sessions of increase after weaker-than-expected US job growth data was released last weekend because this could prompt the US Federal Reserve (Fed) to cut interest rates soon.

According to the CME FedWatch tool, the market is now pricing in a more than 93% chance of the Fed cutting rates in September, up from 63% previously. Gold tends to rise in economic uncertainty and low-interest-rate environments, as it is a zero-yielding asset that is popular as a safe haven.

Investors are also watching as President Donald Trump announces his nominees for the Fed Board of Governors later this week and is narrowing down the list of candidates to replace Fed Chairman Jerome Powell.

Regarding tariffs, US President Donald Trump has just announced to raise tariffs on India to 50%, putting this South Asian country on the list of trade partners subject to the highest tariffs from Washington. Accordingly, Indian goods imported into the US will be subject to an additional 25% tax and will take effect after 21 days as ordered, while the previously announced 25% tax rate will take effect on August 7. President Donald Trump's new tariffs on India are currently among the highest for any US trade partner./.

According to Thanh Nien Newspaper

Source: https://thanhnien.vn/gia-vang-hom-nay-782025-du-tang-hay-giam-nguoi-mua-bi-lo-ngay-25-trieu-185250807072158576.htm

Source: https://baolongan.vn/gia-vang-hom-nay-07-8-du-tang-hay-giam-nguoi-mua-bi-lo-ngay-2-5-trieu-a200254.html