Gold price today August 5: Gold ring price remains above 77 million VND/tael
Last week, the price of 9999 gold rings maintained a price of over 77 million VND/tael. World gold recorded a stable growth of about 1.9%.
Domestic gold price today August 5
In the first week of August, the buying price of gold bars started at VND77.5 million/tael, while the selling price reached VND79.5 million/tael.
On July 30, the State Bank reduced the selling price to 78 million VND/tael, a slight decrease of 500,000 VND compared to July 29. The price of gold bars in the whole market decreased to 79 million VND/tael.
By the end of July 31, the price of gold bars remained stable at 79.5 million VND/tael. However, by August 1, the price skyrocketed by 800,000 VND/tael, to 79.8 million VND/tael, after the State Bank adjusted the buying price to 78.8 million VND/tael.
August 2 saw a surprising increase in the buying price to VND78.3 million/tael, but the selling price remained the same, reducing the difference between buying and selling to VND1.5 million, the lowest since July 23, 2024.
At the end of the week, the buying price of gold bars remained at VND78.3 million/tael and the selling price at VND79.8 million/tael, with the difference between buying and selling stable at VND1.5 million. Compared to the beginning of the week, the buying price increased by VND800,000/tael and the selling price increased by VND300,000/tael.
Currently, the price of gold bars is trading at 79.8 million VND/tael, 3.3 million VND higher than the world gold price after conversion, down 1.3 million VND compared to the end of last week, reflecting the fluctuations of the gold market.
As of 5:00 a.m. on August 5, the price of gold rings on the market observed a slight increase, with the increase ranging from 400,000 to 600,000 VND per tael, maintaining a high price of over 77 million VND/tael.
SJC 9999 ring gold recorded a buying price of 76.15 million and a selling price of 77.55 million VND/tael, an increase of 600,000 VND and 500,000 VND compared to the beginning of the previous week on July 29.
Bao Tin Minh Chau gold ring price also increased, with buying and selling prices increasing by 440,000 VND, reaching 76.32 - 77.52 million VND/tael.
Doji gold ring price is 76.40 million and selling price is 77.55 million VND/tael, increased 600,000 VND and 450,000 VND compared to the beginning of last week.
The current domestic gold ring price is about 1.1 million VND/tael higher than the world gold price, down 1.1 million VND compared to July 29.
The price of gold bars is currently about 2.25 million VND/tael higher than that of gold rings, a slight decrease of 250,000 VND compared to July 29.
Gold price list today 8/5
| Shop | SJC gold price on August 5 | Difference from 7/29 | Buying and selling range | ||
| Purchase price | Selling price | Buy | Sell | ||
| SJC Gold | 78,300,000 | 79,800,000 | 800,000 | 300,000 | 1,500,000 |
| Doji | 78,300,000 | 79,800,000 | 800,000 | 300,000 | 1,500,000 |
| BTMC | 78,300,000 | 79,800,000 | 800,000 | 300,000 | 1,500,000 |
| Red Eyelashes | 78,800,000 | 79,800,000 | 300,000 | 300,000 | 1,000,000 |
| Bao Tin Manh Hai | 77,800,000 | 79,800,000 | -1,000,000 | 300,000 | 2,000,000 |
| PNJ | 78,300,000 | 79,800,000 | 800,000 | 300,000 | 1,500,000 |
| Phu Quy | 78,300,000 | 79,800,000 | 800,000 | 300,000 | 1,500,000 |
World gold price today 5/8
As of 11:00 p.m. on August 4, the global gold price reached 2,442.08 USD/ounce, equivalent to 76.48 million VND/tael. Lower than gold rings by 1.07 million VND/tael, lower than gold bars by 3.32 million VND/tael.
The US labor market has seen a significant slowdown, with the unemployment rate at its highest since October 2021.
The US Labor Department's July jobs report showed 114,000 new jobs, lower than forecast. Experts predict the Fed may cut interest rates by 0.5% at its September meeting due to the weak jobs report.
Market analysis shows a high probability that the Fed will cut interest rates by 0.5% in September.
State Street predicts gold prices could fluctuate between $2,200 and $2,500 an ounce this year, depending on economic and political fluctuations.
State Street expert George Milling-Stanley said the current environment is favorable for gold prices, with the possibility of reaching $2,500-2,700/ounce.
