Gold price today August 28: SJC gold bar price skyrocketed, gold ring price and world price continued to increase

Gold priceDomestic today 8/28/2025

As of 4:00 a.m. today, August 28, 2025, the domestic gold bar price is reaching a new record peak. Specifically:

DOJI Group listed the price of SJC gold bars at 126 - 128 million VND/tael (buy - sell), a decrease of 100 thousand VND/tael in buying - an increase of 300 thousand VND/tael in selling compared to yesterday.

At the same time, the price of gold bars was listed by Saigon Jewelry Company Limited - SJC at 126 - 128 million VND/tael (buy - sell), an increase of 300 thousand VND/tael in both buying and selling directions compared to the closing price on August 26 yesterday.

At Mi Hong Jewelry Company, the price of Mi Hong gold at the time of survey was listed at 126.8-128 million VND/tael for buying and selling. Compared to yesterday, the gold price decreased by 200 thousand VND/tael for buying and increased by 300 thousand VND/tael for selling.

The price of gold bars at Bao Tin Minh Chau Company Limited is traded by businesses at 125.8-128 million VND/tael (buy - sell), the price decreased by 300 thousand VND/tael in the buying direction - increased by 300 thousand VND/tael in the selling direction compared to the same period yesterday.

The price of SJC gold bars at Phu Quy is traded by businesses at 125.4-128 million VND/tael (buy - sell), the gold price increased by 300 thousand VND/tael in both buying and selling directions compared to yesterday.

As of 4:00 a.m. on August 28, 2025, the price of 9999 Hung Thinh Vuong round gold rings at DOJI was listed at 119.6-122.6 million VND/tael (buy - sell); an increase of 300 thousand VND/tael in both buying and selling directions compared to yesterday.

Bao Tin Minh Chau listed the price of gold rings at 119.8-122.8 million VND/tael (buy - sell); an increase of 200 thousand VND/tael in both buying and selling directions compared to yesterday.

The latest gold price list today, August 28, 2025 is as follows:

World gold price today August 28, 2025 and world gold price fluctuation chart in the past 24 hours

According to Kitco, the world gold price recorded at 4:00 a.m. on August 28, Vietnam time, was 3,383.1 USD/ounce. Today's gold price increased by 9 USD/ounce compared to yesterday. Converted according to the USD exchange rate at Vietcombank (26,536 VND/USD), the world gold price is about 108.23 million VND/tael (excluding taxes and fees). Thus, the price of gold bars is 19.77 million VND/tael higher than the international gold price.

World gold prices rose slightly, held back by pressure from a rising US dollar and profit-taking by investors after prices hit a more than two-week high in the previous session.

Specifically, spot gold prices increased by 0.27%, while US gold futures for December delivery increased by 0.05% to 3,433.9 USD/ounce.

Gold prices are now moving more slowly and are largely influenced by the direction of the US dollar, said independent analyst Ross Norman, adding that the current decline is largely due to profit-taking as the bullish momentum has faded.

Gold prices are also influenced by political and monetary factors. On Tuesday, gold prices hit their highest level since August 11 after US President Donald Trump tried to fire Fed Governor Lisa Cook, raising concerns about the independence of the central bank and the stability of US financial assets.

However, Ms. Cook is expected to sue to block the decision, and a lengthy legal battle could ensue. Analysts say the event has had a positive impact on gold prices, as the Fed's monetary policy is a key factor influencing gold prices today.

Investors will also be keeping an eye on the PCE (Personal Consumer Price Index) inflation reading to be released on Friday, as it is the Fed's preferred measure of inflation to gauge the direction of monetary policy.

Based on current forecasts, the market expects an 87% probability that the Fed will cut interest rates by 0.25 percentage points at its policy meeting on September 17. Gold typically benefits in a low-interest rate environment because it does not pay interest, making it an attractive investment when borrowing costs fall.

Besides gold prices, silver prices fell 0.8% to $38.27/ounce, platinum fell 0.8% to $1,337.38/ounce and palladium fell 0.2% to $1,091.99/ounce.

New information on domestic gold prices

Domestic gold prices are showing different developments between distribution channels. Large gold enterprises and many commercial banks such as PNJ, DOJI, Eximbank, Sacombank or ACB still maintain the price of gold bars at a record high of 128 million VND/tael. On the contrary, many small gold shops in Ho Chi Minh City have proactively reduced the price of SJC gold bars to 128 million VND/tael for buying and 129 million VND/tael for selling, about 1 million VND lower than the previous day.

While the price of gold bars shows signs of slowing down, the price of 99.99% gold rings and jewelry continues to increase. Most large and small stores list the buying price at around VND119.9 million/tael and the selling price at VND122.4 million/tael, an increase of VND300,000/tael compared to the previous trading session. This difference comes from the fact that SJC gold bars are facing a shortage of supply and the price is already very high, while gold rings have a more abundant supply and are more accessible to the majority of people.

One notable point is that the market barely reacted to the news that the Government issued Decree No. 232/2025/ND-CP amending regulations on gold trading management. The new Decree officially ends the State's monopoly mechanism in the production and import-export of raw gold, instead applying a conditional licensing mechanism to qualified organizations.

According to experts, domestic gold prices are unlikely to decrease immediately. New regulations need time to be implemented. The State Bank must first issue a detailed circular, then issue licenses to qualified businesses and banks to participate in production and import.

Only when the supply of raw gold becomes abundant and the market is truly competitive, will the price of gold bars have a basis to cool down and move closer to the international gold price.

In parallel, the Ministry of Finance is submitting to the Government a plan to reduce the export tax rate on gold jewelry from 1% to 0%. This measure aims to support businesses in reducing costs and improving international competitiveness in the context of high input prices of gold. The tax reduction also contributes to encouraging the conversion from gold reserves to value-added products.

The proposal comes as the gold jewelry industry is facing many fluctuations in prices and supply and demand. World gold prices in the first quarter increased by about 38-39% compared to the same period last year, while domestic prices also increased sharply with an increase of 43.62% in the second quarter and 37.4% in the first half of the year.

The difference between domestic and international gold ring prices is up to 14.17 million VND/tael, significantly reducing the competitiveness of Vietnamese gold jewelry products in the international market.

Gold Price Forecast

World gold prices have been on the rise again in the past few days, mainly due to signals about the possibility of easing monetary policy from Fed Chairman Jerome Powell and the impact from President Trump on the US Central Bank Fed.

The Fed’s rate cut could weaken the dollar, which could boost gold prices. Geopolitical factors such as the Russia-Ukraine conflict and tensions in other regions have also contributed to the demand for gold as a safe investment.

Chairman Powell's recent remarks at the Jackson Hole conference suggested that the Fed could make two 0.25% rate cuts in 2025. In addition, Trump's decision to fire Governor Lisa Cook raised concerns about the Fed's independence, causing many investors to flock to gold.

In the long term, the USD is expected to continue to depreciate, which is a positive factor supporting gold prices. However, if loose monetary policy helps the US economy recover strongly, the USD may regain its upward momentum, making it difficult for gold to increase.

In Vietnam, Decree 232/2025 has just been issued, eliminating the State's monopoly on gold bar production and import and export of raw gold. This change opens up opportunities for many other gold bar brands besides SJC to enter the market.

According to experts, after more than 13 years of implementing Decree 24, the local gold shortage has led to many consequences such as smuggling, hoarding and exchange rate instability. The new decree is expected to help the domestic gold market connect more closely with the world, thereby narrowing the price gap. The ideal gap is expected to be around 5-7 million VND/tael, compared to the current level of over 20 million VND.

Domestic gold businesses will also have the opportunity to develop creative jewelry products with strong Vietnamese identity and export them to international markets, contributing to earning foreign currency to offset import costs.

Although gold prices have increased by nearly 29% since the beginning of the year, many experts believe that gold will continue to increase, but may slow down due to the lack of room for strong growth. The market needs to closely monitor global economic and policy developments to make appropriate investment decisions.