Gold price today August 29, 2024: 9999 gold ring increased slightly
Gold price today August 29, 2024: Ring gold price continued to increase slightly by 100,000 VND/kg in both directions.
Domestic gold price today August 29, 2024
At the time of survey at 5:00 a.m. on August 29, 2024, the gold price on the trading floors of some companies was as follows:
The price of 9999 gold today is listed by DOJI at 77.55 million VND/tael for buying and 78.65 million VND/tael for selling. A slight increase of 100,000 VND/kg for both buying and selling.
At Mi Hong Jewelry Company, the price of Mi Hong gold at the time of survey was listed at 80-81 million VND/tael (buy - sell). An increase of 500 thousand VND for buying compared to yesterday.
SJC gold price at Bao Tin Minh Chau Company Limited is also traded by the enterprise at 79-81 million VND/tael (buy in - sell out). Meanwhile, at Bao Tin Manh Hai, it is being traded at 79-81 million VND/tael (buy in - sell out).
The latest gold price list today, August 29, 2024 is as follows:
| Gold price today | August 29, 2024 (Million VND) | Difference (thousand dong/tael) | ||
| Buy | Sell out | Buy | Sell out | |
| SJC in Hanoi | 79 | 81 | - | - |
| DOJI Group | 79 | 81 | - | - |
| Mi Hong | 80 | 81 | +500 | - |
| PNJ | 79 | 81 | - | - |
| Vietinbank Gold | - | 81 | - | - |
| Bao Tin Minh Chau | 79 | 81 | - | - |
| Bao Tin Manh Hai | 79 | 81 | - | - |
| 1.DOJI- Updated: 08/29/2024 04:30 - Source website time - ▼/▲ Compared to yesterday. | ||
| Type | Buy | Sell out |
| AVPL/SJC HN | 79,000 | 81,000 |
| AVPL/SJC HCM | 79,000 | 81,000 |
| AVPL/SJC DN | 79,000 | 81,000 |
| Raw material 9999 - HN | 77,400▲100K | 77,600▲100K |
| Raw materials 999 - HN | 77,300▲100K | 77,500▲100K |
| AVPL/SJC Can Tho | 79,000 | 81,000 |
| 2.PNJ- Updated: 08/29/2024 04:30 - Source website time - ▼/▲ Compared to yesterday. | ||
| Type | Buy | Sell out |
| HCMC - PNJ | 77,450▲100K | 78,660▲110K |
| HCMC - SJC | 79,000 | 81,000 |
| Hanoi - PNJ | 77,450▲100K | 78,660▲110K |
| Hanoi - SJC | 79,000 | 81,000 |
| Da Nang - PNJ | 77,450▲100K | 78,660▲110K |
| Da Nang - SJC | 79,000 | 81,000 |
| Western Region - PNJ | 77,450▲100K | 78,660▲110K |
| Western Region - SJC | 79,000 | 81,000 |
| Jewelry gold price - PNJ | 77,450▲100K | 78,660▲110K |
| Jewelry gold price - SJC | 79,000 | 81,000 |
| Jewelry gold price - Southeast | PNJ | 77,450▲100K |
| Jewelry gold price - SJC | 79,000 | 81,000 |
| Jewelry gold price - Jewelry gold price | PNJ 999.9 Plain Ring | 77,450▲100K |
| Jewelry gold price - Jewelry gold 999.9 | 77,300▲100K | 78,100▲100K |
| Jewelry gold price - 999 jewelry gold | 77,220▲100K | 78,020▲100K |
| Jewelry gold price - 99 jewelry gold | 76,420▲100K | 77,420▲100K |
| Jewelry gold price - 916 gold (22K) | 71,140▲90K | 71,640▲90K |
| Jewelry gold price - 750 gold (18K) | 57,330▲80K | 58,730▲80K |
| Jewelry gold price - 680 gold (16.3K) | 51,860▲70K | 53,260▲70K |
| Jewelry gold price - 650 gold (15.6K) | 49,520▲70K | 50,920▲70K |
| Jewelry gold price - 610 gold (14.6K) | 46,390▲60K | 47,790▲60K |
| Jewelry gold price - 585 gold (14K) | 44,440▲60K | 45,840▲60K |
| Jewelry gold price - 416 gold (10K) | 31,240▲40K | 32,640▲40K |
| Jewelry gold price - 375 gold (9K) | 28,040▲40K | 29,440▲40K |
| Jewelry gold price - 333 gold (8K) | 24,520▲30K | 25,920▲30K |
| 3.SJC- Updated: 08/29/2024 04:30 - Source website time - ▼/▲ Compared to yesterday. | ||
| Type | Buy | Sell out |
| SJC 1L, 10L, 1KG | 79,000 | 81,000 |
| SJC 5c | 79,000 | 81,020 |
| SJC 2c, 1C, 5 phan | 79,000 | 81,030 |
| SJC 99.99 gold ring 1 chi, 2 chi, 5 chi | 77,350▲50K | 78,600▲50K |
| SJC 99.99 gold ring 0.3 chi, 0.5 chi | 77,350▲50K | 78,700▲50K |
| 99.99% Jewelry | 77,250▲50K | 78,200▲50K |
| 99% Jewelry | 75,426▲50K | 77,426▲50K |
| Jewelry 68% | 50,831▲34K | 53,331▲34K |
| Jewelry 41.7% | 30,263▲21K | 32,763▲21K |
World gold price today August 29, 2024 and world gold price fluctuation chart in the past 24 hours
According to Kitco, the world gold price recorded at 5:00 a.m. today, Vietnam time, was 2,506.82 USD/ounce. Today's gold price decreased by 8.04 USD/ounce compared to yesterday's gold price. Converted according to the USD exchange rate on the free market (25,200 VND/USD), the world gold price is about 76.94 million VND/tael (excluding taxes and fees). Thus, the price of SJC gold bars is 4.05 million VND/tael higher than the international gold price.
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Recently, the world gold price has increased due to the prediction that the US Federal Reserve (FED) will soon cut interest rates. Last week, FED Chairman Jerome Powell confirmed at the Jackson Hole Economic Conference that the period of strong interest rate hikes from March 2022 has ended and that there may be a rate cut in September.
According to CME Group's FedWatch tool, the market predicts a 66% chance of the Fed cutting by 25 basis points and a 34% chance of cutting by 50 basis points in September.
The Fed's monetary policy change is seen as important for the gold market, helping to cement gold's status as a safe haven asset and a hedge against economic uncertainty.
Gold has been breaking price records this year, demonstrating its enduring value as a store of value and hedge against economic volatility, especially amid a weak US dollar and shifting monetary policy.
Gold price forecast
Ole Hansen of Saxo Bank predicts that gold prices are unlikely to rise in the short term as it reflects expectations of a US interest rate cut in September. Mr. Hansen also expects gold prices to stabilize in the near term, with a limited possibility of a decline to $2,400/oz.
Han Tan from Exinity Group believes that gold prices could reach $2,700/oz by the end of the year if the Fed cuts interest rates by another 1% before Christmas, according to current market predictions.