Gold prices plunge globally following high U.S. inflation data

gold prices SJC gold Federal Reserve PPI inflation crude oil prices

Global gold prices have experienced a sharp decline, dropping to approximately 4,317 USD per ounce. This downward trend was triggered by higher-than-expected U.S. Producer Price Index (PPI) data, which showed an August increase of 0.4% from July and a 5.4% increase year-over-year. This inflation data, combined with rising crude oil prices—with WTI crude surpassing 100 USD per barrel—has heightened market expectations that the Federal Reserve may raise interest rates at its upcoming meeting. Traders currently estimate a 70% probability of a rate hike.

In Vietnam, the domestic gold market has reacted significantly. SJC gold bar prices saw a sharp decrease of 1.6 million VND per tael, with buying prices dropping to 142 million VND and selling prices to 145 million VND per tael. Various gold ring brands, including DOJI and PNJ, also reported price adjustments following the global trend. While some domestic prices stabilized in certain sessions, the gap between international and domestic gold prices remains a point of focus for investors.

Entities

Doji · Federal Reserve · Goldman Sachs · Kitco · PNJ · Phú Quý · SJC · StoneX · U.S. Bureau of Labor Statistics · United States · Vietcombank · Vietnam

Claims

What the coverage asserts, and how many sources carry each claim.

[○ 1 SOURCE] US 10-year Treasury yields reached 4.857%.
[● 6 SOURCES] SJC listed SJC gold bars at a purchase price of 143.6 million VND/tael and a selling price of 146.6 million VND/tael. baophutho.vn · giaoducthoidai.vn · htv.vn
[● 5 SOURCES] DOJI set ring gold purchase prices at 144 million VND/tael and selling prices at 148 million VND/tael. baophutho.vn · kinhdoanhvaphattrien.vn
[○ 1 SOURCE] WTI crude oil prices increased by 3.25% to close at 96.05 USD per barrel.
[● 2 SOURCES] Global gold prices are trading at approximately 4,403.3 USD per ounce.
[○ 1 SOURCE] Brent crude oil prices rose by 3.36% to 101.21 USD per barrel.
[○ 1 SOURCE] Brent crude oil prices rose 3.36% to 101.21 USD per barrel.
[● 2 SOURCES] Global gold prices reached approximately 4,403.3 USD per ounce.
[DISPUTED] Market traders estimate a 70% probability that the Federal Reserve will raise interest rates at its upcoming meeting. baotintuc.vn · doanhnghieptiepthi.vn · anninhthudo.vn · baolaocai.vn
[● 2 SOURCES] WTI crude oil prices rose significantly, surpassing 100 USD per barrel. tienphong.vn
[● 5 SOURCES] Global gold prices dropped to approximately 4,317 USD per ounce. baogialai.com.vn · kinhdoanhvaphattrien.vn · anninhthudo.vn · baolaocai.vn
[● 7 SOURCES] SJC gold bar prices in Vietnam decreased by 1.6 million VND per tael. baogialai.com.vn · doanhnghieptiepthi.vn · thuonggiaonline.vn · nhandan.vn · anninhthudo.vn · +1 more