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Commodities

Gold Prices Soar Globally Amid Geopolitical Tensions

Guavy AI Editorial Team
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Gold
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The price of gold has seen an unexpected rise globally, with Kitco reporting a spot price of $4,082 per ounce at 4:30 AM Vietnam time on August 5th. This represents a 1.21% increase compared to the previous day.

Converted using the free market USD exchange rate (26,269 VND/USD), the world gold price is approximately 129.2 million VND/ounce (excluding taxes and fees). The SJC gold bar price has increased by around 11.3 million VND/ounce compared to the international gold price.

The short-term outlook for gold remains uncertain due to US economic data and the Federal Reserve's interest rate policy. Geopolitical tensions in the Middle East are providing support for gold, but conflicting information regarding US-Iran negotiations has left the market uncertain about future developments.

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