Gold Prices Soar Amid Weakening Dollar and Fed Expectations
Gold prices have increased sharply in recent weeks, breaking through the $4,600 per ounce mark. According to Laodong.vn, SJC gold bar prices rose by 3.6 million VND/tael at both buying and selling, listing them at 144.6 - 147.6 million VND/tael.
However, despite the significant increase in gold prices, buyers only made a small profit of around 600,000 VND/tael when purchasing SJC gold bars on August 16 and selling them on August 23. This is due to the large gap between buying and selling prices, with some business units adjusting their gold ring price difference to as high as 4 million VND/tael.
The global gold market has also been affected by various factors, including a weakening USD and expectations of a change in US Federal Reserve policy. As a result, world gold prices have risen by over 5% in one week, reaching $4,602.4 per ounce.