Gold price this afternoon August 2, 2025: Domestic and world gold prices increased dramatically to the highest level of the week

Gold pricedomestic this afternoon 8/2/2025

As of 3:30 p.m. this afternoon, August 2, 2025, the domestic gold bar price has increased to a record high. Specifically:

The price of SJC gold bars at the brands SJC, PNJ, DOJI, Bao Tin Minh Chau is listed at 121.5 - 123.5 million VND/tael (buy - sell), an increase of 1.6 million VND/tael in buying - an increase of 2.1 million VND/tael in selling compared to yesterday.

At Mi Hong Jewelry Company, the price of Mi Hong gold at the time of survey was listed at 121.7-123.2 million VND/tael for buying and selling. Compared to yesterday, the gold price increased by 1.3 million VND/tael for buying and 1.8 million VND/tael for selling.

Phu Quy SJC buys 1 million VND/tael lower than other gold brands, trading at 120.5 million VND/tael for buying and 123.5 million VND/tael for selling. Compared to yesterday, the gold price increased 1.1 million VND/tael for buying - increased 2.1 million VND/tael for selling.

As of 3:30 p.m. on August 2, 2025, the price of 9999 Hung Thinh Vuong round gold rings at DOJI was listed at 117 - 119.5 million VND/tael (buy - sell); the price increased by 1.9 million VND/tael in both buying and selling directions compared to yesterday.

Bao Tin Minh Chau listed the price of gold rings at 117.2 - 120.2 million VND/tael (buy - sell); an increase of 1 million VND/tael in both buying and selling directions compared to yesterday.

SJC listed the price of gold rings at 116.5 - 119 million VND/tael (buy - sell), an increase of 1.9 million VND/tael in both directions compared to yesterday morning.

Meanwhile, Phu Quy increased the price of gold rings by 1.3 million VND/tael in both directions, trading at 116.2 - 119.2 million VND/tael.

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 3:30 p.m. on August 2, Vietnam time, was 3,362.53 USD/ounce. This afternoon's gold price increased by 67.32 USD/ounce compared to yesterday. Converted according to the USD exchange rate at Vietcombank (26,390 VND/USD), the world gold price is about 110.43 million VND/tael (excluding taxes and fees). Thus, the price of SJC gold bars is 13.07 million VND/tael higher than the international gold price.

Gold prices rose sharply on the afternoon of August 2 due to weak US economic signals, expectations of interest rate cuts and global trade tensions. Although some large investors are taking profits, demand for gold as a safe asset remains stable.

Specifically, the spot gold price is currently at 3362.53 USD/ounce, up 2.04% on the day. The December gold contract increased by 48.6 USD to 3397.2 USD/ounce.

Gold prices are on a positive uptrend after the US July jobs report showed signs of weakness. Data from the US Bureau of Labor Statistics showed that the economy created only 73,000 jobs in July, much lower than the 106,000 forecast by economists.

The unemployment rate edged up slightly to 4.2%, as expected. More worryingly, the jobs figures for the previous two months were revised down by 258,000. The revisions showed June added just 14,000 jobs and May added 19,000.

Given this situation, the market is predicting a 75% chance of the Fed cutting interest rates in September. Priya Misra, portfolio manager at JP Morgan, said that the unemployment rate is more important than the new jobs data. Earlier this week, the Fed decided to keep interest rates at 4.25-4.5%, but Chairman Jerome Powell has not yet given a clear signal about the possibility of a rate cut in September.

In addition to the US economic factor, gold prices are also supported by trade tensions after President Donald Trump announced the application of new import tariffs, effective from August 7. This caused many investors to rush to buy gold as a safe haven.

According to Louise Street, senior market analyst at the World Gold Council, 2025 started with a lot of volatility due to trade tensions, unstable US policy and geopolitical risks. Since the beginning of the year, gold prices have increased by 26%, far exceeding many other assets.

Gold prices are expected to remain flat in the second half of the year after a sharp increase, but there is still the potential for a breakout if further economic or political shocks occur. Demand for gold reserves could increase if global risks increase, pushing gold prices even higher.

Gold price forecast

The current gold price is greatly influenced by the monetary policy of the US Federal Reserve (Fed). Many experts believe that the Fed may reduce interest rates in the near future to support the economy, especially when the labor market is weakening but inflation remains high.

Chris Zaccarelli, Chief Investment Officer at Northlight Asset Management, said that rate cuts are almost necessary to boost growth without causing inflation to flare up again.

Jamie Cox, managing partner at Harris Financial Group, predicts the Fed could cut interest rates sharply in September, even as much as 0.5%. He believes the Fed will have to act faster to avoid negative consequences for the economy.

However, actual demand for gold is showing signs of slowing down. According to a report from the World Gold Council (WGC), global central banks bought only 166.5 tons of gold in the second quarter of 2025, down about a third from the previous quarter and the lowest level since 2022. It is expected that in the whole year of 2025, the amount of gold purchased by central banks will reach about 815 tons.

In China, many investors are shifting money from gold ETFs to stocks as the stock market surges. In July, China's four largest gold ETFs lost about 3.2 billion yuan ($450 million) due to outflows. China's CSI 300 Index rose 5.5% in July, its biggest gain since September 2024. Steve Zhou of Huaan Fund Management said many investors have sold gold to seek higher returns from stocks.

However, Kenny Ng, an expert from China Everbright Securities, commented that this trend may only be temporary. He said that the stock market still has potential risks, and gold prices are unlikely to fall sharply in the near future. Gold ETFs are expected to stabilize in the medium term.

Tai Wong, a veteran metals trader, said that despite the rising dollar, gold has maintained its floor. He said that if the price corrects deeply, it will attract strong buying power thanks to supporting factors such as global instability, US public debt and the trend of reducing dependence on the USD.

Kelvin Wong, an analyst at OANDA, predicts that if gold breaks above $3,350 an ounce by the end of the week, it could spark a new rally. 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.

Quoc Duong