Gold Prices Soar 8% on China Buying Spree
Gold prices rose nearly 8% on August 11, 2026, creating opportunities for profit-taking, as the market remains highly volatile. According to Kitco, this increase was driven by China's increased buying pace.
The price of SJC gold bars at Saigon Jewelry Company (SJC) closed at 141.1 - 144.1 million VND/ounce, an increase of 100,000 VND/ounce in both buying and selling prices compared to the previous day.
Market analysts believe that the gains may be limited by upcoming inflation data, which could lead the Federal Reserve to maintain its tight monetary policy stance. Senior market analyst Darin Newsom at Barchart.com stated that 'the core reality is that inflation remains a major issue.' He emphasized that fundamental demand and growing investor interest need to combine to push gold prices above $4,500 per ounce.