On the morning of 8/8, Saigon Jewelry Company (SJC) listed gold bar prices at 141 - 144 million dong per tael, marking a 1,8 million dong increase from yesterday's closing. Other major brands made similar adjustments.

Plain gold rings also saw a 1,8 million dong increase at SJC compared to yesterday's close, reaching 140,5 - 143,5 million dong per tael. PNJ traded these rings around 140 - 143,9 million dong. Bao Tin Minh Chau's plain ring prices ranged from 141,5 - 145,5 million dong, while DOJI listed them at 142 - 146 million dong.

The surge in domestic gold prices followed international rates hitting a 7-week high. At the close of trading on 7/8, the price of world spot gold rose by 102 USD per ounce, reaching 4,341 USD.

Converted at Vietcombank's exchange rate, the precious metal's international price is equivalent to 138 million dong per tael. This creates a 6 million dong difference, with domestic prices higher than international ones.

The market's upward trend began after the US Department of Labor reported an unexpected decrease of 23,000 new jobs created in July. This figure contradicted forecasts and June's data. David Meger, an expert at High Ridge Futures, suggested that weaker-than-expected job data would make it more challenging for the US Federal Reserve (Fed) to raise interest rates at its upcoming meeting.

In contrast, domestic silver bar prices remained stable today. Phu Quy, DOJI, and Ancarat traded silver bars at 2,31 - 2,37 million dong per tael, equivalent to 61,3 - 63,2 million dong per kg.

USD prices at banks also held steady compared to yesterday but showed a weekly decline. Vietcombank listed the USD at 26,000 - 26,410 dong, an 80 dong decrease from last weekend. BIDV's buying and selling rates for the greenback were 26,025 - 26,405 dong.

Trong Hieu