Gold price today 02/09: World price skyrockets to record level

World gold prices soared to a record high of $3,500/ounce. Domestic precious metals increased slightly on National Day, September 2.

On the morning of September 2, Mi Hong Jewelry Company increased the buying price of SJC gold bars by VND200,000 per tael, to VND129.8 million, and kept the selling price unchanged at VND130.6 million. On the free market, the price of SJC gold bars was listed at VND132 - 135 million/tael. Meanwhile, the price of gold rings increased slightly by VND100,000 per tael, Phu Quy Company bought at VND122.9 million, sold at VND125.9 million; Bao Tin Minh Chau Company bought at VND122.8 million, sold at VND125.8 million...

Gold bar buying price increased. PHOTO: NGOC THANG

World gold prices increased by 24 USD, reaching a record high of 3,500 USD/ounce. The precious metal is being driven by technical buying power, a wave of sell-offs on US stock indexes. At the end of August, the world's largest gold investment fund SPDR bought a large volume of 9.74 tons of gold, bringing the total amount of gold purchased in 5 consecutive days to 20.91 tons, up to 977.68 tons of gold.

Investors are looking ahead to the Federal Reserve's monetary policy meeting in mid-September. The CME FedWatch Tool shows that the probability of the Fed cutting interest rates by another 25 basis points at the meeting later this month has increased to 87%. Investors and analysts are betting heavily on a move to ease monetary policy to support the economy . According to newly released data, US consumer spending increased in July. The personal consumption expenditure (PCE) price index - the Fed's preferred inflation gauge - increased 0.2% compared to the previous month and 2.6% compared to the same period last year, completely matching market expectations./.

According to Thanh Nien Newspaper

Source: https://thanhnien.vn/gia-vang-hom-nay-292025-the-gioi-tang-vot-len-muc-ky-luc-185250902084804195.htm

Source: https://baolongan.vn/gia-vang-hom-nay-02-9-the-gioi-tang-vot-len-muc-ky-luc-a201777.html