Gold price this afternoon (August 29): Strong increase

Gold bar prices are listed specifically as follows:

SJC gold in Hanoi and Da Nang: 127.8 million VND/tael for buying, 129.3 million VND/tael for selling (up 800 thousand VND/tael in both directions).

SJC Phu Quy Gold: 126.4 million VND/tael for buying, 128.9 million VND/tael for selling (up 400 thousand VND/tael in both directions).

DOJI Gold in Hanoi and DOJI in Ho Chi Minh City: 127.4 million VND/tael for buying, 128.9 million VND/tael for selling (up 400 thousand VND/tael in both directions).

PNJ gold rings in Hanoi and Ho Chi Minh City: 120.7 million VND/tael for buying (up 500 thousand VND/tael), 123.6 million VND/tael for selling (up 400 thousand VND/tael).

The price of SJC gold bars and plain round gold rings at Bao Tin Minh Chau Company Limited was traded by the enterprise at 127.4 million VND/tael for buying and 128.9 million VND/tael for selling (an increase of 400 thousand VND/tael in both directions).

As of 5:00 a.m. on August 29 (Vietnam time), the price of gold today on the international market reached 3,418 USD/ounce, up 35 USD from the lowest level in the trading session last night (3,383 USD/ounce). Meanwhile, the price of gold for December delivery increased by 12.6 USD, reaching 3,461 USD/ounce.

Analysts said that technical buying power along with the weakening of the USD index (down 0.32% to 97.81 points) pushed gold prices up today.

Experts at Bank of America maintain an optimistic forecast, saying that gold prices could reach $4,000/ounce in the first half of 2026. In the latest report, the bank emphasized that the possibility of the US Federal Reserve (Fed) cutting interest rates amid rising inflation will be a key factor supporting gold prices.

"Potential rate cuts combined with a weaker US dollar would create favorable conditions for gold prices to rise further... In an environment of continued inflation, gold will become more attractive as a safe-haven asset," said analysts at Bank of America.

The market is now betting heavily on the Fed starting its rate-cutting cycle in September 2025. According to CME’s FedWatch tool, investors are almost certain the Fed will cut rates by 25 basis points at its September meeting, with the possibility of further easing in October and December.

Source: https://baolangson.vn/gia-vang-chieu-nay-29-8-tang-manh-5057475.html