Updated gold price at the end of session 22.8: There is a downward trend, waiting for the move from the FED

Khương Duy |

Updated gold price at the end of session 22.8: Domestic gold is flat. The world gold market tends to cool down.

SJC gold bar price

As of 6:20 p.m., DOJI Group listed the price of SJC gold bars at VND124.4-125.4 million/tael (buy in - sell out), unchanged in both directions. The difference between buying and selling prices is at 1 million VND/tael.

Dien bien gia vang SJC nhung phien giao dich gan day. Bieu do: Khuong Duy
SJC gold price developments in recent trading sessions. Chart: Khuong Duy

Meanwhile, Bao Tin Minh Chau listed the price of SJC gold bars at 124.4-125.4 million VND/tael (buy in - sell out), unchanged in both directions. The difference between buying and selling prices is at 1 million VND/tael.

Phu Quy Jewelry Group listed the price of SJC gold bars at 123.4-125.4 million VND/tael (buy in - sell out), unchanged in both directions. The difference between buying and selling prices is at 2 million VND/tael.

9999 gold ring price

As of 6:20 p.m., DOJI Group listed the price of gold rings at 117.4-120.4 million VND/tael (buy - sell), an increase of 100,000 VND/tael for buying and an increase of 100,000 VND/tael for selling. The difference between buying and selling is 3 million VND/tael.

Bao Tin Minh Chau listed the price of gold rings at 117.6-120.6 million VND/tael (buy - sell), an increase of 100,000 VND/tael in both directions. The difference between buying and selling is 3 million VND/tael.

Dien bien gia vang nhan nhung phien giao dich gan day. Bieu do: Khuong Duy
Gold ring price developments in recent trading sessions. Chart: Khuong Duy

Phu Quy Gold and Stone Group listed the price of gold rings at 117.2-120.2 million VND/tael (buy in - sell out), an increase of 200,000 VND/tael in both directions. The difference between buying and selling is 3 million VND/tael.

Currently, the difference between buying and selling gold rings is at a very high level, around 3 million VND/tael, posing a potential risk of loss for investors.

World gold price

The world gold price was listed at 10:25 p.m. at 3,327.4 USD/ounce, down 10.8 USD compared to a day ago.

Dien bien gia vang the gioi nhung phien giao dich gan day. Bieu do: Phan Anh
World gold price developments in recent trading sessions. Chart: Phan Anh

Gold price forecast

According to experts, gold prices in the short term are unlikely to increase sharply, most likely continuing to move sideways. Some comments say that if the US Federal Reserve (FED) cuts interest rates by 0.25 percentage points as the market is predicting, gold prices could reach $3,400/ounce.

Conversely, if the Fed maintains its policy, the precious metal could slide to $3,300/ounce. In the context of increasing economic and geopolitical instability, gold is still considered a safe haven, but the upcoming trend will depend largely on the Fed's move.

Currently, world gold prices are in a slight correction as investors pay attention to the speech of FED Chairman Jerome Powell at the Jackson Hole conference - an annual event that has a great influence on global monetary policy.

The CME FedWatch tool shows that confidence in the possibility of the Fed cutting interest rates in September has declined significantly. If the probability was almost certain a week ago, now it is only about 75%.

There are growing expectations that the Fed Chairman will give a clear signal on a policy shift on Friday, but whether gold can bounce strongly to surpass the $3,400/ounce resistance level is still uncertain, said Fawad Razaqzada, an analyst at City Index and FOREX.com.

Despite the strong resistance, persistent economic risks in the US, concerns about the independence of the FED and the sustainability of fiscal policy, along with geopolitical instability are reinforcing the trend of de-dollarization and prompting central banks to increase gold purchases.

Net buying by central banks will continue to be strong, although it may be lower than last year's record. UBS forecasts total global gold demand to increase by 3% to 4,760 tons by 2025, marking the highest level in more than a decade.

UBS raised its gold price forecast for the first quarter of 2026 by $100 to $3,600/ounce. The bank also raised its forecast for the second quarter of 2026 by $200 to $3,700/ounce.

Note: Gold price data is compared to a day earlier.

See more news related to gold prices HERE...

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