Gold ring prices reach new highs.

Specifically, at 10:00 AM, Saigon Jewelry Company Limited (SJC) listed the price of gold rings (1-5 tael) at 77,2 - 78,5 million VND/tael (buy - sell), an increase of 100.000 VND/tael in both buying and selling prices. This continues to be the highest price ever recorded for gold rings in the country.

Compared to about a month ago, the price of gold rings has increased by nearly 2 million VND/ounce. Compared to the beginning of the year, the price of gold rings has increased by about 15 million VND/ounce. However, the current price of gold rings is still about 2,5 million VND/ounce lower than the price of SJC gold bars.

At the same time, the price of SJC gold bars is listed at 79 - 81 million VND/ounce (buy - sell), unchanged compared to the end of last week.

Meanwhile, on the global market, gold prices recorded a $3/ounce increase, reaching $2.515/ounce, continuing the impressive upward trend in recent trading sessions. Analysts believe that the outlook for gold prices remains very positive as the US Federal Reserve (Fed) is preparing to lower interest rates next month.

Jerome Powell's speech at the Jackson Hole Symposium sent a clear signal that the Fed will adjust monetary policy to support the economy. This breathed new life into the precious metals market, as investors expected lower interest rates to reduce the attractiveness of the US dollar and boost demand for safe-haven assets like gold.

According to data from SPDR Gold Shares, the world's largest gold exchange-traded fund, inflows into gold have increased significantly this month. However, the fund's gold holdings are still down compared to the beginning of the year, indicating investor caution.

This week, the gold market continues to be influenced by key economic data such as the Personal Consumption Expenditures (PCE) index, industrial production, Q2 GDP, durable goods orders, consumer confidence, and jobless claims. These data will provide further insight into the US economic situation and shape market expectations regarding the Fed's monetary policy.

Experts predict that gold prices still have significant room for growth. Adam Button, Head of Currency Strategy at Forexlive.com, believes that as interest rates fall and the US dollar weakens, gold prices will continue to rise sharply. Phillip Streible, Director of Market Strategy at Blue Line Futures, even predicts that gold prices could reach $2.600 per ounce before facing selling pressure.