Domestic gold price today August 4
Early afternoon of August 4 , today's SJC 9999 gold price decreased by 50 thousand VND/tael in both buying and selling compared to the morning.
The price of 9999 gold was updated by Saigon Jewelry Company Limited (SJC) at 13:41 as follows:
| Buy | Sell | |
| SJC Hanoi | 66,600,000 VND/tael | 67,220,000 VND/tael |
| SJC HCMC | 66,600,000 VND/tael | 67,200,000 VND/tael |
| SJC Danang | 66,600,000 VND/tael | 67,220,000 VND/tael |
SJC and DOJI gold price list updated early afternoon August 4
Early morning of August 4, the price of SJC 9999 gold today increased by 50 thousand VND/tael in both buying and selling compared to the end of yesterday's trading session.
The price of 9999 gold was updated by Saigon Jewelry Company Limited (SJC) at 8:29 am and the price of 9999 gold was listed by Doji Jewelry Group at 8:57 am as follows:
| Buy | Sell | |
| SJC Hanoi | 66,650,000 VND/tael | 67,270,000 VND/tael |
| SJC HCMC | 66,650,000 VND/tael | 67,250,000 VND/tael |
| SJC Danang | 66,650,000 VND/tael | 67,270,000 VND/tael |
| Doji Hanoi | 66,550,000 VND/tael | 67,300,000 VND/tael |
| Doji HCMC | 66,650,000 VND/tael | 67,150,000 VND/tael |
SJC and DOJI gold price list updated early morning August 4
At the end of the trading session on August 3, the price of 9999 gold bars at SJC Ho Chi Minh City was 66.6 million VND/tael (buy) and 67.2 million VND/tael (sell). SJC Hanoi listed at 66.6 million VND/tael (buy) and 67.22 million VND/tael (sell).
Doji Hanoi listed at 66.55 million VND/tael (buy) and 67.3 million VND/tael (sell). Doji Ho Chi Minh City bought SJC gold at 66.6 million VND/tael and sold at 67.1 million VND/tael.
The central exchange rate on August 4 announced by the State Bank is 23,825 VND/USD, an increase of 22 VND compared to yesterday. The USD price at commercial banks this morning (August 4) was traded around 23,560 VND/USD (buy) and 23,930 VND/USD (sell).
International gold price today 4/8
At 9:41 a.m. today (August 4, Vietnam time), the world spot gold price stood at around 1,934.7 USD/ounce, up 4.7 USD/ounce compared to last night. The price of gold futures for December delivery on the Comex New York floor was at 1,970.3 USD/ounce.
On the morning of August 4 , world gold converted to USD bank price was over 55.8 million VND/tael (excluding tax and fees), about 11.47 million VND/tael lower than domestic gold price.
Private payrolls rose more than expected in July, the ADP National Employment Report showed, suggesting the labor market's resilience continues to shield the economy from recession.
This is one of the bases for assessing whether the US Federal Reserve (Fed) needs to raise interest rates to cool down inflation.
On the world market, the spot gold price on Kitco floor on August 3 (at 8:00 p.m., Vietnam time) was trading at 1,930 USD/ounce.
Fitch earlier downgraded the US debt rating to AA+ from AAA, citing fiscal deterioration over the next three years and rising government debt. This is the second time a major credit rating agency has downgraded the US debt rating.
Chicago Fed President Austan Goolsbee said the central bank is on track to bring inflation down without triggering a recession. The agency is watching the data to assess whether it will tighten monetary policy in September.
The Bank of England is expected to raise interest rates to a 15-year high as inflation remains the highest among the world's major economies.
Gold Price Forecast
According to the CME FedWatch Tool, there is an 83% chance that the Fed will leave interest rates unchanged at its September meeting. Gold is highly sensitive to rate hikes. Higher interest rates increase the opportunity cost of holding non-yielding assets such as gold.
Gold is currently stuck in a range of $1,900 to $2,000, said Daniel Pavilonis, an investment strategist at RJO Futures. He said higher interest rates are putting pressure on gold.
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