Gold price today August 2, 2025: Domestic and world gold prices increased sharply again, marking a week of slight increase

Gold pricedomestic today 8/2/2025

As of 4:30 a.m. today, August 2, 2025, the domestic gold bar price remains high. Specifically:

DOJI Group listed the price of SJC gold bars at 119.9-121.4 million VND/tael (buy - sell), an increase of 200 thousand VND/tael in both buying and selling directions compared to yesterday.

At the same time, the price of SJC gold bars was listed by Saigon Jewelry Company Limited - SJC at 119.9-121.4 million VND/tael (buy - sell), the price remained unchanged in both buying and selling directions compared to yesterday.

At Mi Hong Jewelry Company, the price of Mi Hong gold at the time of survey was listed at 120.4-121.4 million VND/tael for buying and selling. Compared to yesterday, the gold price decreased by 200 thousand VND/tael for buying - unchanged for selling.

SJC gold price at Bao Tin Minh Chau Company Limited is traded by businesses at 119.9-121.4 million VND/tael (buy - sell), the price remains unchanged in both buying and selling directions compared to yesterday.

SJC gold price at Phu Quy is traded by businesses at 119.4-121.4 million VND/tael (buy - sell), gold price remains unchanged in both buying and selling directions compared to yesterday.

As of 4:30 a.m. on August 2, 2025, the price of 9999 Hung Thinh Vuong round gold rings at DOJI was listed at 116-118.5 million VND/tael (buy - sell); the price remained unchanged in both buying and selling directions compared to yesterday.

Bao Tin Minh Chau listed the price of gold rings at 116-119 million VND/tael (buy - sell); down 300 thousand VND/tael in both buying and selling directions compared to yesterday.

The latest gold price list this afternoon, August 2, 2025 is as follows:

World gold price this afternoon August 2, 2025 and world gold price fluctuation chart in the past 24 hours

According to Kitco, the world gold price recorded at 4:30 a.m. on August 2, Vietnam time, was 3,349.15 USD/ounce. This afternoon's gold price increased by 53.68 USD/ounce compared to yesterday. Converted according to the USD exchange rate at Vietcombank (26,380 VND/USD), the world gold price is about 109.95 million VND/tael (excluding taxes and fees). Thus, the price of SJC gold bars is 11.45 million VND/tael higher than the international gold price.

The world gold price has risen sharply, reaching a one-week high. The main reason is the weaker-than-expected US employment report, raising expectations that the Federal Reserve will cut interest rates. In addition, the announcement of new tariffs also boosted the demand for gold as a safe investment channel.

Spot gold rose 1.63% to a record high this week. For the week, gold rose 0.39%. US gold futures also rose 1.7% to $3,405.20.

"The jobs numbers were lower than expected but slightly higher than market expectations, which increases the likelihood of a Fed rate cut later this year. For now, inflationary pressures from tariffs and wages remain, while the jobs numbers were below expectations. If the Fed decides to cut rates, gold will benefit significantly," said Bart Melek, commodity strategist at TD Securities.

According to the US Department of Labor, the number of non-farm jobs in July increased by only 73,000, much lower than expected and down sharply from the 14,000 jobs (revised downward) in June. The market now expects the Fed to cut interest rates twice by the end of the year, starting in September.

Gold’s rally was bolstered by weaker-than-expected U.S. manufacturing data. The Institute for Supply Management (ISM) said its manufacturing PMI fell to 48 in July, down from 49 in June and well below the forecast of 49.5. The reading indicates a contraction in manufacturing activity, signaling a risk of economic weakness.

The Fed kept interest rates unchanged this week in a range of 4.25% to 4.50%. Chairman Jerome Powell said it was too early to say whether the central bank would cut rates in September.

On trade, President Trump’s new wave of tariffs on goods from countries such as Canada, Brazil, India and Taiwan has roiled global markets. Countries are stepping up negotiations to reach a better deal. In times of economic and geopolitical uncertainty, gold is often seen as a safe haven.

Besides gold prices, spot silver prices increased 1.1% to $37.14/ounce, platinum increased 0.6% to $1,296.58 and palladium increased 2.3% to $1,217.91.

Gold price forecast

Gold prices showed signs of recovery thanks to buying at low prices after recent sharp declines. However, silver prices fell sharply and hit a four-week low as investors closed long positions in the futures market.

The main driver of gold’s rise is shifting interest rate expectations. Markets are now pricing in a 75% chance that the Fed will cut rates in September, followed by another cut in December. Chris Zaccarelli, chief investment officer at Northlight Asset Management, said the Fed will have to balance a weakening labor market with inflation not falling fast enough.

Jamie Cox, Managing Partner at Harris Financial Group, said the Fed may regret its decision to hold rates steady this week. He predicted a rate cut in September, possibly as much as 0.5%, to make up for the wait.

In addition to interest rates, gold has also benefited from safe-haven demand. Many experts warn that weak employment data could make stock investors nervous. Gina Bolvin, president of Bolvin Wealth Management Group, said the market will be volatile as investors weigh the slowing growth rate and the Fed's response. In that context, gold continues to be an attractive choice.

According to the World Gold Council, gold demand from central banks and the jewelry industry will decline in the second quarter of 2025 due to high gold prices. Central banks bought only 166.5 tons, down a third from the previous quarter, bringing total purchases in the first half of the year to the lowest level since 2022. Central bank gold demand is expected to reach about 815 tons for the whole year of 2025.

Experts say that in times of geopolitical tension or economic crisis, gold is always considered a safe haven. This demand can overwhelm the impact of interest rates. When interest rates are low and inflation increases, gold becomes an effective asset protection tool, helping to maintain its value against currency depreciation.

Chinese investors are shifting money from gold ETFs to domestic stocks as the stock market surges, Bloomberg reported. In July, China’s four largest gold ETFs recorded net outflows of about 3.2 billion yuan ($450 million), while the CSI 300 Index rose 5.5%, its strongest gain since September last year.

Many investors are taking profits from gold to seek higher returns from stocks, said Steve Zhou of Huaan Fund Management. However, Kenny Ng, a strategist at China Everbright Securities, said the stock market may maintain its upward momentum in the short term, but gold prices are unlikely to fall much. He expects gold ETFs in China to stabilize in the near term.