Gold price today August 23: Gold bar and gold ring prices hit new record high, world gold price increased slightly

Gold pricedomestic today 8/23/2025

As of 4:00 a.m. today, August 23, 2025, the domestic gold bar price is at a new record high. Specifically:

SJC gold price is listed by DOJI Group at 124.4-125.4 million VND/tael (buy - sell), the price remains unchanged in both buying and selling directions compared to yesterday.

At the same time, the price of SJC gold was listed by Saigon Jewelry Company Limited - SJC at 124.4-125.4 million VND/tael (buy - sell), the price remained unchanged in both buying and selling directions compared to today, August 20, yesterday.

At Mi Hong Jewelry Company, the price of Mi Hong gold at the time of survey was listed at 124.9-125.4 million VND/tael for buying and selling. Compared to yesterday, the gold price remained unchanged in both buying and selling directions.

SJC gold price at Bao Tin Minh Chau Company Limited was traded by the enterprise at 124.4-125.4 million VND/tael (buy - sell), the price remained unchanged in both buying and selling directions compared to the same period yesterday.

SJC gold price at Phu Quy is traded by businesses at 123.4-125.4 million VND/tael (buy - sell), gold price remains unchanged in both buying and selling directions compared to yesterday.

As of 4:00 a.m. on August 23, 2025, the price of 9999 Hung Thinh Vuong round gold rings at DOJI was listed at 117.4-120.4 million VND/tael (buy - sell); an increase of 100,000 VND/tael in both buying and selling directions compared to yesterday.

Bao Tin Minh Chau listed the price of gold rings at 117.6-120.6 million VND/tael (buy - sell); an increase of 100 thousand VND/tael in both buying and selling directions compared to yesterday.

The latest gold price list today, August 23, 2025 is as follows:

World gold price today August 23, 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 23, Vietnam time, was 3,373.39 USD/ounce. Today's gold price increased by 30.85 USD/ounce compared to yesterday. Converted according to the USD exchange rate at Vietcombank (26,520 VND/USD), the world gold price is about 107.74 million VND/tael (excluding taxes and fees). Thus, the price of SJC gold bars is 17.66 million VND/tael higher than the international gold price.

In just one month, the price of gold bars has increased by nearly 2 million VND/tael. Since the beginning of the year, the increase has been about 40 million VND, equivalent to 47%. In the free market, the price of SJC gold bars is about 600 thousand VND/tael higher than that of major gold and silver companies. Specifically, the buying and selling prices are at 125.4 - 126.2 million VND/tael.

Not only gold bars, but also the prices of 99.99% gold rings and jewelry have been continuously increasing. In just 2 days, the price of gold rings has increased by a total of 600,000 VND. Since the beginning of the year, the price of gold rings has increased by about 35 million VND, equivalent to 41%.

A worrying issue is that the price difference between domestic gold and world gold is very large. Many experts believe that buying SJC gold bars at this time may be risky because the State Bank may have measures to intervene to increase supply, thereby reducing the price difference. Moreover, the supply of SJC gold bars is very limited, if gold is purchased on the free market, buyers are at risk of encountering fake gold, poor quality gold.

In the international market, the world gold price also increased sharply after the speech of Fed Chairman Jerome Powell about the possibility of cutting interest rates next month. Mr. Powell said that the US economy is facing the risk of rising inflation and slowing growth. He said that monetary policy needs to be adjusted cautiously.

These signals made investors expect interest rates to be lowered soon, and that was the main reason why spot gold prices increased by 0.92%, while US gold futures for December also increased by 1.17% to 3,421 USD/Ounce.

An independent metals trader said Powell’s final speech at Jackson Hole was a surprise to the market. He opened up a clearer possibility of a September rate cut, which is bullish for all assets, including gold. He also said it will be important to watch whether gold can break above $3,400 and hold in the coming days.

Traders now see a 90% chance of a 25 basis point rate cut in September, up from 75% before the speech, according to the CME FedWatch tool. Powell's comments focused heavily on upcoming jobs and inflation data ahead of the Fed's September 16-17 policy meeting.

Besides gold prices, spot silver prices increased 1.3% to 38.67 USD/ounce. Platinum increased 0.5% to 1,359.75 USD/ounce. Palladium also increased 1.4% to 1,126.25 USD/ounce.

Gold price forecast

Gold prices are being strongly influenced by the monetary policies of the US Federal Reserve (Fed). Many analysts believe that the Fed needs to take measures to support the economy, and any signs of policy easing will have a positive impact on the gold market.

According to the latest report from Swiss bank UBS, demand for gold bullion is rising at the fastest rate since 2011. This increase comes from many factors including prolonged economic risks in the US, concerns about the independence of the Fed, fiscal policy instability and complex geopolitical situation. These factors are promoting the trend of reducing dependence on the USD and encouraging central banks to increase gold reserves.

Forecasts show that central bank net buying will remain positive, although it may not reach the record highs of last year. UBS estimates that total global gold demand will rise 3% to 4,760 tonnes in 2025, the highest level in more than a decade. The bank also revised up its gold price forecast for the first quarters of 2026, to $3,600 an ounce in Q1 and $3,700 an ounce in Q2.

Gold typically performs well in a low-interest-rate environment because it does not pay interest, making it more attractive than income-producing assets. However, physical demand in key Asian hubs remained weak this week. Volatility in gold prices has kept buyers on their toes, although jewelers in India have resumed buying ahead of the key festival season.

In the short term, experts say gold prices are unlikely to increase sharply and are likely to move sideways. The price scenario will depend significantly on the Fed's interest rate decision. If the Fed cuts interest rates by 0.25% as expected by the market, gold prices could reach $3,400/ounce. Conversely, if monetary policy remains unchanged, prices could fall to the $3,300/ounce range.

The world gold price is holding steady above the important support level of 3,300 USD/ounce. Many analysts believe that it is only a matter of time before the gold price surpasses the historical peak of 3,500 USD, especially when the market increasingly believes that the Fed will start cutting interest rates from September.

Nicky Shiels, Head of Metals Research at MKS PAMP, has just raised her 2025 end-of-year gold price forecast to $3,600 an ounce. According to Shiels, we are entering a new era of increased fiscal pressure with record public debt and rising borrowing costs. This situation forces the market to refocus on fundamentals such as macroeconomic data and Fed policy, rather than just reacting to trade news.

With expectations of an early change in Fed policy, a falling US dollar and continued geopolitical uncertainty, gold continues to be seen as the top safe haven asset. The simultaneous increase in price forecasts by many major financial institutions reflects a new bullish cycle not only for gold but also for other precious metals such as silver, platinum and palladium. The target of 3,600 USD/ounce may be achieved in the final months of this year.

Quoc Duong