Gold Prices Rebound Despite Struggling Market

Gold prices have been struggling to recover in recent sessions, but some analysts are predicting an upward trend. As of August 18th at 5:15 PM, SJC gold bar prices ranged from 141.3-144.3 million VND/tael (buying - selling), with a difference of 3 million VND/tael.

Bao Tin Minh Chau listed the price of gold bars at the threshold of 141.8-145.7 million VND/tael (buying - selling), with a buying-sell difference of 3.9 million VND/tael.

The world gold price was recorded around 4,392.5 USD/ounce at 5:10 PM on August 18th.

Short-term prospects for gold prices are affected by US bond yields, oil prices, and the monetary policy of the US Federal Reserve (Fed). Rising 10-year US Treasury bond yields make holding non-performing assets like gold less attractive. Additionally, oil prices edged up amidst instability in the Middle East, raising concerns about inflation persistence.

The minutes of the Fed's July policy meeting are expected to be released on August 19th, providing insight into Fed officials' assessments of inflation, growth, and interest rate outlook. Investors will look for signals that may limit gold's short-term recovery potential.