Gold price today September 1: World price plummets, domestic price remains high

World gold prices have dropped sharply, but SJC gold bars on the free market remain high due to the holiday season.

The world gold price fell by 11 USD to 3,438 USD/ounce on the first day of September. However, gold ended August at a high, up more than 2.3%, close to the record price of 3,500 USD/ounce. In a speech last Friday at the annual symposium of the US Federal Reserve (Fed), Fed Chairman Jerome Powell said that the changing balance of risks in the economy could warrant an adjustment of monetary policy.

SJC gold price at high level (PHOTO: NGOC THANG)

Some economists said Mr. Powell’s stance was validated on Friday when inflation pressures picked up in line with forecasts. The Commerce Department reported that the core personal consumption expenditures (PCE) index, which excludes volatile food and energy prices and is the Fed’s preferred inflation measure, rose 2.9% in the 12 months through July.

This week, some US economic information will be released that will affect gold prices such as ISM manufacturing PMI index, JOLTS employment numbers, ADP non -farm payrolls, weekly unemployment benefit applications, ISM service PMI index, non-farm payrolls...

In the domestic market, the domestic price of SJC gold bars is high. On gold forums, some members still advertise buying prices of 132 - 132.5 million VND/tael. The price of SJC gold bars at SJC trading companies, Bao Tin Minh Chau, Doji ... also remained high before closing for the National Day holiday. The buying price is 129.1 million VND, the selling price is 130.6 million VND. At the end of August, the price of SJC gold bars increased by 9.2 million VND/tael, equivalent to 7.6%./.

According to Thanh Nien Newspaper

Source: https://thanhnien.vn/gia-vang-hom-nay-192025-the-gioi-lao-doc-trong-nuoc-van-neo-cao-185250901084609154.htm

Source: https://baolongan.vn/gia-vang-hom-nay-01-9-the-gioi-lao-doc-trong-nuoc-van-neo-cao-a201735.html