Gold price today (August 4): Anchored at high threshold

Gold price today (August 4): Gold bars today are anchored at a high level of 123.5 million VND/tael; world gold prices slightly decreased compared to yesterday morning, listed around 3,359.1 USD/ounce.

Domestic gold bar price today

Domestic gold bar prices today are at a high level. Gold bars of SJC, DOJI , PNJ, and Bao Tin Minh Chau brands are all listed at 121.5 - 123.5 million VND/tael (buy - sell), unchanged from yesterday's trading session.

Phu Quy SJC bought 1 million VND/tael lower at 120.5 million VND/tael and sold 123.5 million VND/tael, stable in both directions.

Domestic gold bar prices updated at 5am August 4 as follows:

Yellow	Area	Early morning 3 - 8	Early morning 4 - 8	Difference
Buy	Sell	Buy	Sell	Buy	Sell
Unit of measure: Million VND/tael	Unit of measure: Thousand dong/tael
DOJI	Hanoi	121.5	123.5	121.5	123.5	-	-
Ho Chi Minh City	121.5	123.5	121.5	123.5	-	-
SJC	Ho Chi Minh City	121.5	123.5	121.5	123.5	-	-
Hanoi	121.5	123.5	121.5	123.5	-	-
Danang	121.5	123.5	121.5	123.5	-	-
PNJ	Ho Chi Minh City	121.5	123.5	121.5	123.5	-	-
Hanoi	121.5	123.5	121.5	123.5	-	-
Bao Tin Minh Chau	Nationwide	121.5	123.5	121.5	123.5	-	-
Phu Quy SJC	Nationwide	120.5	123.5	120.5	123.5	-	-

Domestic gold ring price today

In the same direction as gold bars, the price of gold rings today also went sideways compared to yesterday.

Gold bar price today (August 4) is anchored at 123.5 million VND/tael. Photo: 24h.com.vn

Specifically, SJC bought gold rings at 116.5 million VND/tael and sold at 119 million VND/tael, stable in both directions.

DOJI traded gold rings at 117 - 119.5 million VND/tael, unchanged from yesterday.

Bao Tin Minh Chau gold rings continue to be traded at 117.2 - 120.2 million VND/tael (buy - sell).

PNJ does not change the price of gold rings at 117 - 119.5 million VND/tael (buy - sell).

Phu Quy Group also kept gold rings at 116.2 - 119.2 million VND/tael (buy - sell).

World gold price today

In the world gold market, the spot gold price today decreased slightly compared to yesterday morning, listed around 3,359.1 USD/ounce (equivalent to 107.23 million VND/tael converted according to Vietcombank exchange rate, excluding taxes and fees).

World gold prices generally decreased slightly by 4.4 USD/ounce (equivalent to 0.13%) in the past 24 hours.

Currently, world gold is about 16.27 million VND/tael lower than domestic gold price.

World gold prices fell slightly. Illustration: Kitco

Last week, the world gold market witnessed intense fluctuations, with gold prices plummeting and then soaring again in just a few days. All changes revolved around a number of statements from the Chairman of the US Federal Reserve (Fed) and important economic data.

On Wednesday, Fed Chairman Jerome Powell made a brief statement in a press conference after the Fed decided to keep interest rates unchanged: “We have no decision for September.” Although brief, the statement implied that the Fed still left open the possibility of not cutting interest rates in the near future - contrary to the expectations of many investors.

Immediately after this statement, the price of gold fell sharply by nearly $30/ounce, equivalent to about 1%, to a four-week low, below the threshold of $3,300/ounce. The market immediately adjusted expectations and the probability of the Fed cutting interest rates in September dropped to 37%.

The sensitivity of the gold market shows the role of signals from the US central bank - even a small change in tone is enough to create big waves.

On Friday, a disappointing jobs report was released, immediately reversing the trend. Within two minutes of the data being released, gold prices jumped $30 an ounce.

Gold prices ended the week at $3,361.50 an ounce, up more than 2% in just one day. Weak jobs data has raised expectations that the Fed will be forced to ease monetary policy to support the economy.

According to the weekly gold survey of an international financial information platform, market analysts' sentiment is at an all-time high. In the context of global economic uncertainty, investors are turning to gold as a channel to protect asset value.

Despite the strong gains last week, the gold market is still volatile. Further price movements will depend on new economic data, as well as statements from Fed officials in the coming time. The holiday schedule will also make the next trading sessions quieter.

TRUONG AN

* Please visit the Economics section to see related news and articles.

Source: https://baolamdong.vn/gia-vang-hom-nay-4-8-neo-o-nguong-cao-386292.html