Gold price is about to reach 129 million VND/tael, breaking the peak for the third consecutive day

At 9:00 a.m. this morning, Doji and SJC listed gold bar prices at 127.4 - 128.9 million VND/tael (buy - sell), an increase of 400,000 VND/tael compared to early this morning.

At the same time, the price of gold rings also continued to set a new peak when it reached 120.6 - 123.6 million VND/tael (buy - sell), an increase of 300,000 VND/tael.

Domestic gold prices increased sharply following the increase in world prices. This morning, world gold prices were listed on Kitco at 3,415 USD/ounce, up 20 USD/ounce compared to early yesterday morning.

Domestic gold prices continue to break new records. (Photo: Minh Duc).

Gold prices surged above $3,400 an ounce, supported by a persistent weakness in the U.S. dollar. Analysts at Bank of America expect the rally to continue, maintaining their forecast that the precious metal will reach $4,000 an ounce by the first half of 2026.

According to Bank of America, lower interest rates and a weaker US dollar will be the main factors driving gold prices higher. Analysts said that the possibility of interest rate cuts in the context of rising inflation creates favorable conditions for the weakening of the US dollar. Interest rate cuts in an environment of still high inflation are likely to push gold prices higher.

The market expects the US Federal Reserve to start cutting interest rates as early as September. The CME FedWatch tool shows traders have almost fully priced in a 25 basis point cut, with the possibility of further easing in October and December.

Analysts say the dollar could rebound if inflation data remains high, forcing the Fed to delay its easing plans. However, they believe the recovery will be temporary.

Analysts therefore maintain a positive view on gold, seeing it as a valuable diversifier amid policy uncertainty, fiscal uncertainty and growing investor uncertainty about the long-term role of US government bonds and the US dollar. Gold’s role as a portfolio hedge remains intact.

Speaking specifically about gold, Jim Luke, Head of Metals Investment Fund at Schroders, noted in his latest report that it is impressive that gold has maintained a price around $3,300 an ounce.

Gold faced some major headwinds in the second quarter, he explained. Initially, it appeared that the economy was adjusting to higher taxes and labor market changes due to the government’s tighter immigration policies. However, sentiment changed dramatically after disappointing July jobs data, followed by sharp downward revisions to May and June data.

Source: vtcnews.vn

Source: https://baodongnai.com.vn/kinh-te/202508/gia-vang-sap-cham-129-trieu-dongluong-pha-dinh-ngay-thu-ba-lien-tiep-e5810d9/