Market

Gold price today August 29, 2024: 9999 gold ring increased slightly

Hung CuongDNUM_CJZAIZCACE 05:30

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:

DOJI listed the price of 9999 gold today 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 - sell). Meanwhile, at Bao Tin Manh Hai, it is being traded at 79-81 million VND/tael (buy - sell).

Giá vàng hôm nay 29/8/2024: Vàng nhẫn 9999 tăng nhẹ

The latest gold price list today, August 29, 2024 is as follows:

Gold price today
August 29, 2024
(million dong)
Difference
(thousand dong/tael)
Buy
Sell
Buy
Sell
SJC in Hanoi
79
81
-
-
DOJI Group
79
81
-
-
Red Eyelashes
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.
TypeBuySell
AVPL/SJC HN79,00081,000
AVPL/SJC HCM79,00081,000
AVPL/SJC DN79,00081,000
Raw material 9999 - HN77,400▲100K77,600▲100K
Raw material 999 - HN77,300▲100K77,500▲100K
AVPL/SJC Can Tho79,00081,000
2.PNJ- Updated: 08/29/2024 04:30 - Source website time - ▼/▲ Compared to yesterday.
Type
BuySell
HCMC - PNJ77,450▲100K78,660▲110K
HCMC - SJC79,00081,000
Hanoi - PNJ77,450▲100K78,660▲110K
Hanoi - SJC79,00081,000
Da Nang - PNJ77,450▲100K78,660▲110K
Da Nang - SJC79,00081,000
Western Region - PNJ77,450▲100K78,660▲110K
Western Region - SJC79,00081,000
Jewelry gold price - PNJ77,450▲100K78,660▲110K
Jewelry gold price - SJC79,00081,000
Jewelry gold price - SoutheastPNJ77,450▲100K
Jewelry gold price - SJC79,00081,000
Jewelry gold price - Jewelry gold pricePNJ 999.9 Plain Ring77,450▲100K
Jewelry gold price - Jewelry gold 999.977,300▲100K78,100▲100K
Jewelry gold price - Jewelry gold 99977,220▲100K78,020▲100K
Jewelry gold price - Jewelry gold 9976,420▲100K77,420▲100K
Jewelry gold price - 916 gold (22K)71,140▲90K71,640▲90K
Jewelry gold price - 750 gold (18K)57,330▲80K58,730▲80K
Jewelry gold price - 680 gold (16.3K)51,860▲70K53,260▲70K
Jewelry gold price - 650 gold (15.6K)49,520▲70K50,920▲70K
Jewelry gold price - 610 gold (14.6K)46,390▲60K47,790▲60K
Jewelry gold price - 585 gold (14K)44,440▲60K45,840▲60K
Jewelry gold price - 416 gold (10K)31,240▲40K32,640▲40K
Jewelry gold price - 375 gold (9K)28,040▲40K29,440▲40K
Jewelry gold price - 333 gold (8K)24,520▲30K25,920▲30K
3.SJC- Updated: 08/29/2024 04:30 - Source website time - ▼/▲ Compared to yesterday.
TypeBuySell
SJC 1L, 10L, 1KG79,00081,000
SJC 5c79,00081,020
SJC 2c, 1c, 5c79,00081,030
SJC 99.99 gold ring 1 chi, 2 chi, 5 chi77,350▲50K78,600▲50K
SJC 99.99 gold ring 0.3 chi, 0.5 chi77,350▲50K78,700▲50K
Jewelry 99.99%77,250▲50K78,200▲50K
Jewelry 99%75,426▲50K77,426▲50K
Jewelry 68%50,831▲34K53,331▲34K
Jewelry 41.7%30,263▲21K32,763▲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.

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 strong interest rate hike period 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 strengthen gold's position as a safe haven asset and a hedge against economic uncertainty.

Gold has broken back-to-back 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 limited downside potential to $2,400/oz.

Han Tan from Exinity Group said 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.

Hung Cuong