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Gold worth at midday on August 16: Concurrently fell with out brake

Tuesday, August 16, 2022 10:47

Gold worth at midday on August 16, up to date with the newest gold worth record, gold costs within the nation and the world concurrently dropped with out braking.

Gold worth right this moment, newest gold worth information, home and worldwide gold costs all dropped with out stopping when touching almost 67 million dong/tael.

World gold worth right this moment

The world gold worth right this moment is at 1,782/ounce.

Gold futures costs fell sharply to $1,781.4 per ounce.

Spot gold was final traded at $1,779.6 per ounce, down $20.4 from daybreak the day earlier than.

Gold worth at midday on August 16: Concurrently fell with out brake
The world gold worth dropped with out stopping. Picture: Kitco

The world spot gold worth within the first session of the week constantly plunged because of concern of restricted demand for gold after China launched disappointing financial information in July.

As well as, the robust restoration of the dollar in addition to the sharp drop in crude oil costs put nice stress on gold costs.

Home gold worth right this moment

The home gold worth right this moment dropped sharply from 200,000 to 500,000 VND/tael. With this adjustment, the home gold worth has now reached almost 67 million dong/tael bought.

SJC gold worth has now been adjusted down 500,000 VND in each instructions and with the adjustment in Hanoi and Da Nang space is presently at 66.1 million VND/tael purchased and 67.12 million VND/tael bought out.

Doji model gold worth in Hanoi space is presently standing at 66.05 million dong/tael purchased and 67.05 million dong/bought, down 500,000 dong in each instructions.

Replace the newest home gold worth record right this moment

Gold worth forecast

Gold worth regardless of final week’s forecast has began a brand new buying and selling week with a 1% drop on the day.

Capital Economics is forecasting the dear metallic will endure extra because of stress from the dollar’s restoration in addition to quick rising Treasury yields.

> MORE: Gasoline costs right this moment on August 16: Persevering with to plunge with out braking

In its newest commodity replace, Capital Economics has forecast gold costs will finish the yr at $1,650 an oz, almost $150 under present costs.

Gold worth is presently beneath nice stress of dollar. Picture: Web

The gold worth forecast comes regardless of final week’s enhance of 1.5% after information launched confirmed inflation slowing.

Consultants from Capital Economics stated that the preliminary inflation information was thought-about optimistic for valuable metals because it suppressed market expectations of one other optimistic transfer by the US Federal Reserve on the assembly. assembly in September. Capital Economics report additionally urged that key inflation has peaked and the Fed will increase rates of interest to 50 foundation factors, as a substitute of 75 foundation factors on the subsequent assembly.

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