Gold price today August 4: Domestic price jumps to record level, world price moves towards new milestone

Domestic gold price today

Domestic gold prices continue to hover at record levels, showing a steady upward trend since the beginning of the year. In the trading session on August 3, SJC gold bars at major brands such as SJC, PNJ, DOJI and Bao Tin Minh Chau were all listed at around VND121.5 - 123.5 million/tael (buy - sell).

Since the beginning of the year, the price of gold bars has increased by 39.3 million VND/tael, bringing attractive profits to investors. For example, if you bought at 84.2 million VND/tael at the beginning of the year, you can now sell it for a profit of up to 37.3 million VND/tael.

Not only gold bars, gold rings also recorded a sharp increase. At DOJI, Hung Thinh Vuong gold rings are currently at 117 - 119.5 million VND/tael, while Bao Tin Minh Chau announced the price at 117.2 - 120.2 million VND/tael. Compared to the end of last week, each tael of gold rings has increased by 1 million VND in both directions.

In terms of profitability, DOJI recorded a profit of nearly 32.8 million VND/tael, while at Bao Tin Minh Chau this figure was higher, about 33 million VND/tael, a very notable increase in the precious metals market.

At 5am today, August 4, the domestic gold bar price was at 123.5 million VND/tael for sale.

DOJI Group listed the price of SJC gold bars at 121.5-123.5 million VND/tael (buy - sell), the price remained unchanged compared to yesterday but increased by 1.9 million VND/tael in the buying direction - increased by 2.4 million VND/tael in the selling direction compared to the end of last week.

At the same time, the price of SJC gold bars was listed by Saigon Jewelry Company Limited - SJC at 121.5-123.5 million VND/tael (buy - sell), the price remained unchanged in both buying and selling directions compared to yesterday, increasing 1.9 million VND/tael in buying direction - increasing 2.4 million VND/tael in selling direction compared to the closing price on July 27 of last week.

At Mi Hong Jewelry Company, the price of Mi Hong gold at the time of survey was listed at 121.5-123.2 million VND/tael for buying and selling. Compared to yesterday, the gold price remained unchanged, compared to last week, the gold price increased by 1.3 million VND/tael for buying - increased by 2.2 million VND/tael for selling.

SJC gold price at Bao Tin Minh Chau Company Limited is traded by businesses at 121.5-123.5 million VND/tael (buy - sell), the price is unchanged compared to yesterday, increased by 1.9 million VND/tael in buying - increased by 2.4 million VND/tael in selling compared to the same period last week.

SJC gold price at Phu Quy is traded by businesses at 120.5-123.5 million VND/tael (buy - sell), gold price is unchanged compared to yesterday, gold price increased by 1.7 million VND/tael in buying direction - increased by 2.4 million VND/tael in selling direction compared to last week.

World gold price today

In the international market, gold prices ended the week in the green at $3,361.19/ounce, up 0.72% from the beginning of the week and nearly 3% from the bottom in April.

This positive development was mainly due to a weaker-than-expected US jobs report, raising the possibility that the US Federal Reserve (Fed) could cut interest rates in September. The rate of interest rate cut prediction is now recorded by CME's FedWatch tool at 92%, up sharply from the previous level of 38%.

In addition, the weakening of the US dollar also strongly supported gold prices. Mr. Lukman Otunuga - market strategist at FXTM - said that the depreciation of the greenback was the factor that pushed gold higher in recent sessions.

Gold Price Forecast

The bullish outlook for gold is being bolstered by a number of factors. Naeem Aslam of Zaye Capital Markets believes that gold could break the $3,400/ounce threshold if the Fed signals policy easing.

In addition, Mr. Michael Brown - strategist at Pepperstone assessed that gold still maintains its role as a strategic monetary asset, especially in the context of increasing global trade and economic instability. He emphasized the trend of central banks - especially in emerging markets - diversifying their reserves from USD to gold.

Technically, signals such as ETF inflows and increased buying volume are reinforcing confidence in the gold price's upward momentum. In the short term, analysts believe that the $3,400/ounce level remains an important psychological level to conquer, before heading towards the resistance area around $3,445 and further to the $3,500/ounce mark, which is considered a new price peak if the uptrend continues.

Mr. Michael Brown commented that, in the context of the existing demand for shelter and increasing expectations of monetary policy easing, gold could completely set higher prices before the end of 2025.

Source: https://baohatinh.vn/gia-vang-hom-nay-48-trong-nuoc-vot-len-muc-ky-luc-the-gioi-huong-toi-moc-moi-post293030.html