Gold price this afternoon, August 29, 2025: The 130 million mark is not far away.

Gold priceDomestic news this afternoon, August 29, 2025

As of 4:00 PM today, August 29, 2025, the price of gold bars in Vietnam continued to rise, breaking records to nearly 130 million VND per tael. Specifically:

DOJI Group listed SJC gold bars at 127.4 - 128.9 million VND/ounce (buying price - selling price), an increase of 400,000 VND/ounce in both buying and selling prices compared to yesterday.

At the same time, the price of gold bars listed by Saigon Jewelry Company Limited (SJC) was 127.8 - 129.3 million VND/ounce (buying price - selling price), an increase of 800,000 VND/ounce in both buying and selling prices compared to the closing price on August 28th.

Meanwhile, at Mi Hong Gold and Gemstone Company, the listed price of SJC gold at the time of the survey was 128.4-129.3 million VND/ounce for buying and selling. Compared to yesterday, the price increased by 1.2 million VND/ounce for buying and 1.1 million VND/ounce for selling.

At Bao Tin Minh Chau Co., Ltd., the price of gold bars is being traded at 127.8 - 129.3 million VND/ounce (buying price - selling price), an increase of 800,000 VND/ounce in both buying and selling prices compared to the same period yesterday.

At Phu Quy, SJC gold bars are being traded at 126.8-129.3 million VND/ounce (buying price - selling price), an increase of 800,000 VND/ounce in both buying and selling prices compared to yesterday.

As of 4:00 PM on August 29, 2025, the price of 9999 Hung Thinh Vuong gold rings at DOJI was listed at 120.6-123.6 million VND/ounce (buying price - selling price); an increase of 300,000 VND/ounce in both buying and selling prices compared to yesterday.

Bao Tin Minh Chau listed the price of gold rings at 121.2-124.2 million VND/ounce (buying price - selling price); an increase of 900,000 VND/ounce in both buying and selling prices compared to yesterday.

The latest gold price list for this afternoon, August 29, 2025, is as follows:

World gold prices this afternoon, August 29, 2025, and a chart showing world gold price fluctuations over the past 24 hours.

According to Kitco, the spot price of gold in the world market at 4:00 PM on August 29th (Vietnam time) was $3412.25 USD/ounce. This afternoon's price increased by $19.4 USD/ounce compared to yesterday. Converted using the USD exchange rate at Vietcombank (26,502 VND/USD), the world gold price is approximately 109 million VND/ounce (excluding taxes and fees). Thus, the price of gold bars is currently 20.3 million VND/ounce higher than the international gold price.

Global gold prices are on a strong upward trend in August and are forecast to continue rising next week. The main reasons are the weakening US dollar and growing expectations that the US Federal Reserve (Fed) will cut interest rates in September.

Specifically, spot gold prices rose 0.57%, after touching their highest level since August 11th. December gold futures, however, fell slightly by 0.12% to $3,470.05 per ounce.

Global gold prices have recently been trending upwards, influenced by a number of economic and political factors. One of the reasons stems from important economic data from the United States. Newly released reports show that the US economic growth rate in the second quarter reached 3.3%, higher than initial forecasts and exceeding the expectations of many experts.

In addition, the US labor market also showed strength as the number of people filing for unemployment benefits decreased slightly compared to expectations. This indicates that the economy remains stable, but at the same time, it may lead the Federal Reserve to consider maintaining its tight monetary policy for a longer period, indirectly putting pressure on gold prices.

Another key factor supporting the upward trend in gold prices is the expectation that the US dollar will continue to weaken. Many experts, including analysts from Bank of America, predict that gold prices could gradually approach the $4,000/ounce mark.

Experts believe that gold is a favored investment choice amid predictions that the US is about to enter a phase of monetary policy easing, expected to begin next month. Recent statements from Fed officials have further reinforced this expectation.

Governor Christopher Waller has publicly endorsed an interest rate cut in September and suggested further cuts are possible. Market estimates suggest an 86% probability of the Fed lowering interest rates by 0.25% next month.

In the domestic market, despite the government's policy of abolishing the gold bullion monopoly in hopes of lowering prices, gold prices have continued to rise. The reason is believed to be that supply has not kept pace with the very large domestic demand. It will take time for policy changes to take effect and for domestic gold prices to gradually approach world prices.

Besides gold, spot silver prices fell 0.6% to $38.82 per ounce. Platinum prices dropped 1.2% to $1,343.80 per ounce, while palladium declined 0.4% to $1,097.73 per ounce.