Gold price this afternoon August 31: Domestic gold price in August at record high, world gold price increased impressively

Gold priceDomestic this afternoon August 31, 2025

As of 2:00 p.m. this afternoon, August 31, 2025, the domestic gold bar price closed August at an unprecedented peak. Specifically:

DOJI Group listed the price of SJC gold bars at 129.1 - 130.6 million VND/tael (buy - sell), the price remained unchanged in both buying and selling directions compared to yesterday. The gold price increased sharply by 3.5 million VND/tael in buying direction - increased sharply by 4 million VND/tael in selling direction compared to the end of last week.

At the same time, the price of gold bars was listed by Saigon Jewelry Company Limited - SJC at 129.1 - 130.6 million VND/tael (buy - sell), the price remained unchanged in both buying and selling directions compared to the closing price on August 30 yesterday. The gold price increased by 3.5 million VND/tael for buying - increased by 4 million VND/tael for selling compared to the closing price on August 24 last week.

At Mi Hong Jewelry Company, the price of Mi Hong gold at the time of survey was listed at 129.6-130.6 million VND/tael for buying and selling. Compared to yesterday, the gold price remained unchanged in both buying and selling directions. Compared to last week, the gold price increased by 3.6 million VND/tael for buying and increased by 4 million VND/tael for selling.

The price of gold bars at Bao Tin Minh Chau Company Limited is traded by the enterprise at 129.1 - 130.6 million VND/tael (buy - sell), the price remains unchanged in both buying and selling directions compared to the same period yesterday, the price increased by 3 million VND/tael for buying - increased by 4 million VND/tael for selling compared to the same period last week.

The price of SJC gold bars in Phu Quy was traded by businesses at 128.1-130.6 million VND/tael (buying - selling), the gold price remained unchanged in both buying and selling directions compared to yesterday. The gold price increased by 3.5 million VND/tael in buying direction - increased by 4 million VND/tael in selling direction compared to last week.

As of 2:00 p.m. on August 31, 2025, the price of 9999 Hung Thinh Vuong round gold rings at DOJI was listed at 122.5-125.5 million VND/tael (buy - sell); unchanged in both buying and selling directions compared to yesterday; increased by 3.7 million VND/tael in both buying and selling directions compared to last week.

Bao Tin Minh Chau listed the price of gold rings at 122.6-125.6 million VND/tael (buy - sell); unchanged in both buying and selling directions compared to yesterday; increased by 3.6 million VND/tael in both buying and selling directions compared to last week.

The latest gold price list this afternoon, August 31, 2025 is as follows:

World gold price this afternoon August 31, 2025 and world gold price fluctuation chart in the past 24 hours

According to Kitco, the world gold price recorded at 2:00 p.m. on August 31, Vietnam time, was 3,449.37 USD/ounce. The gold price this afternoon remained unchanged compared to yesterday and increased by 81.66 USD/ounce compared to last week. Converted according to the USD exchange rate at Vietcombank (26,502 VND/USD), the world gold price is about 110.2 million VND/tael (excluding taxes and fees). Thus, the price of gold bars is 20.4 million VND/tael higher than the international gold price.

The world gold price this August has increased to a very impressive record, increasing by 86.84 USD/ounce (up 2.42%) compared to July, breaking out strongly to reach the highest level in 4 months. The main reason comes from the fact that the US Central Bank (Fed) will cut interest rates in September.

At the annual conference in Jackson Hole, Fed Chairman Powell said the changing balance of risks to the economy may require an adjustment in monetary policy. He is less concerned about getting inflation back to 2% and is more focused on signs of slowing growth and the labor market.

Inflation data released on Friday also reinforced this view. The core personal consumption expenditures (PCE) index rose 2.9% in the 12 months through July. Despite the rise in inflation, markets are still largely expecting a rate cut next month.

Chris Zaccarelli, chief investment officer at Northlight Asset Management, said the latest inflation data will not deter the Fed from cutting rates. There are two other important inflation reports, PPI and CPI, due September 10-11, but as long as they do not show a sharp rise in inflation, the Fed is almost certain to cut by 0.25%.

In the current environment, Mr. Phillip Streible of Blue Line Futures expects gold prices to continue to rise in the short term. He expects both spot and futures prices to break and close above the $3,500/ounce threshold.

Currently, the price of gold futures for December delivery on the CME exchange is trading at $3,511.50/ounce. According to Mr. Streible, gold is rising sharply because the market is starting to feel the risk of stagflation.

The most important event next week is Friday’s nonfarm payrolls report. Analysts say weak labor market data will continue to support gold prices and reinforce the Fed’s easing cycle. Comerica Bank forecasts a modest increase of 45,000 jobs in August.

In addition to economic factors, politics are also having a strong impact on the market. Geopolitical uncertainty is expected to continue to provide momentum for gold prices. President Donald Trump's continued conflict with the Fed is undermining confidence in the US dollar as a reserve currency, making gold an attractive monetary metal. Trump's new tactic is to shift the focus from Mr. Powell to other members of the Committee, especially Fed Governor Lisa Cook.

While Cook’s case is still pending in US courts, some analysts say the Fed’s independence has been compromised. Naeem Aslam of Zaye Capital Markets said Trump now controls the Fed narrative, which means interest rates will fall and gold prices will rise.

Chantelle Schieven of Capitalight Research expects this conflict to continue to damage the reputation of the USD, and in that environment, no one can predict how high gold prices will go. She believes it is only a matter of time before gold sets new records.

Economic data to watch next week includes: US ISM manufacturing PMI (Tuesday), JOLTS job openings (Wednesday), ADP employment figures, weekly jobless claims and ISM services PMI (Thursday), and finally the non-farm payrolls report (Friday). Note that North American markets will be closed on Monday for Labor Day.