Gold price today September 1: World price plummets, domestic price remains high

World gold prices have dropped sharply, but SJC gold bars on the free market remain high due to the holiday season.

The world gold price fell by $11 to $3,438 an ounce on the first day of September. However, gold ended August on a high, up more than 2.3%, close to the record price of $3,500 an ounce. In a speech last Friday at the annual symposium of the US Federal Reserve (Fed), Fed Chairman Jerome Powell said that the changing balance of risks in the economy could warrant an adjustment in monetary policy.

SJC gold price at high level (PHOTO: NGOC THANG)

Some economists said Mr Powell’s stance was validated on Friday when inflation pressures picked up in line with forecasts. The US Commerce Department reported that the core personal consumption expenditures (PCE) index – which excludes volatile food and energy prices and is the Fed’s preferred inflation gauge – rose 2.9% in the 12 months through July.

This week, some US economic information will be released that will affect gold prices such as ISM manufacturing PMI, JOLTS employment numbers, ADP non -farm payrolls, weekly unemployment claims, ISM services PMI, non-farm payrolls...

In the domestic market, the domestic price of SJC gold bars is high. On gold forums, some members still advertise buying prices of 132 - 132.5 million VND/tael. The price of SJC gold bars at SJC trading companies, Bao Tin Minh Chau, Doji ... also remained high before closing for the National Day holiday. The buying price was 129.1 million VND, the selling price was 130.6 million VND. At the end of August, the price of SJC gold bars increased by 9.2 million VND/tael, equivalent to 7.6%./.

According to Thanh Nien Newspaper

Source: https://thanhnien.vn/gia-vang-hom-nay-192025-the-gioi-lao-doc-trong-nuoc-van-neo-cao-185250901084609154.htm

Source: https://baolongan.vn/gia-vang-hom-nay-01-9-the-gioi-lao-doc-trong-nuoc-van-neo-cao-a201735.html