Gold price on August 29: Continuously increasing, up to nearly 129 million VND/tael

The world gold price today (August 29) exceeded 3,400 USD/ounce in the context of the weakening USD price and the market is expecting the US Federal Reserve (FED) to cut interest rates next September. In the country, the price of SJC gold bars reached a new peak, trading at nearly 129 million VND/tael, SJC gold rings increased to 123.1 million VND/tael.

(Photo: THANH DAT)

In the domestic market, the price of gold brands has been increasing continuously in recent days, continuously setting new records. The price of SJC gold bars is trading at an unprecedented high of 128.9 million VND/tael.

Currently, the domestic gold bar price is still 18-19 million VND/tael higher than the world price (excluding taxes and fees), the largest difference ever.

Gold price statistics of Dragon Viet Online Service Joint Stock Company VDOS - Updated at 10:30 a.m. on August 29.

Specifically, at 10:30 a.m. on August 29, Saigon Jewelry Company (SJC) listed the buying and selling price of SJC gold bars at 127.4-128.9 million VND/tael, an increase of 400,000 VND compared to the previous session. The difference between buying and selling is 1.5 million VND/tael.

The price of SJC 9999 gold ring is 120.6 million VND/tael for buying and 123.1 million VND/tael for selling, an increase of 500,000 VND compared to the previous closing price. The difference between buying and selling is 2.5 million VND/tael.

DOJI gold bar price in Hanoi and Ho Chi Minh City is trading at 127.4 million VND/tael for buying and 128.9 million VND/tael for selling, an increase of 400,000 VND compared to the previous session.

This brand listed the buying and selling price of Doji Hung Thinh Vuong 9999 gold ring at 120.6-123.6 million VND/tael. The buying and selling difference is up to 3 million VND/tael.

PNJ Gold is currently buying at 120.7 million VND/tael and selling at 123.6 million VND/tael, up 500,000 VND and 400,000 VND respectively compared to yesterday's closing price.

As of 10:30 a.m. on August 29 (Vietnam time), gold price World gold increased by 15.9 USD compared to the previous session's close to 3,411.4 USD/ounce.

World gold prices this morning soared to a one-month high, trading above $3,400 an ounce, supported by the continued weakness of the greenback. Analysts at Bank of America (BOA) predicted that gold prices will continue to rise in the coming time and maintained their forecast that the price of this precious metal will reach $4,000 an ounce in the first half of 2026.

World gold price chart on August 29. (Photo: kitco.com)

In a report released last week, BOA bank said that lower interest rates and a weaker US dollar would support gold prices.

Analysts said rate cuts amid rising inflation have weakened the dollar and pushed precious metal prices higher.

The market expects the Federal Reserve to start cutting interest rates as early as September. The CME Group’s FedWatch tool shows that investors have almost fully priced in a 25 basis point rate cut and the possibility of further easing in October and December.

Currently, the USD-Index is at 98.01 points; the yield on 10-year US Treasury bonds slightly decreased to 4.216%; US stocks set a new record as GDP increased sharply and expectations of the FED lowering interest rates; oil prices turned down, trading at 67.61 USD/barrel for Brent oil and 64.22 USD/barrel for WTI oil.

Source: https://baoquangninh.vn/gia-vang-ngay-29-8-tang-khong-ngung-len-sat-129-trieu-dong-luong-3373713.html