Gold price today August 28: Breaking old record, SJC increases to set new record

Gold bar and ring prices both rose to a record high on the morning of August 28. The world's precious metal returned to its highest level in the past two weeks.

The price of SJC gold bars increased by 200,000 - 700,000 VND per tael, reaching a record high. Saigon Jewelry Company - SJC increased the buying price by 700,000 VND per tael, to 126.7 million VND, while the selling price increased by 200,000 VND, to 128.2 million VND. Doji Group kept the buying price at 126 million VND, selling at 128 million VND. Phu Quy Company bought at 125.4 million VND, selling at 128 million VND. Mi Hong Company increased the buying price by 200,000 VND, to 127 million VND, selling at 128 million VND...

Companies also increased the price of 4-number 9 gold rings from 200,000 to 400,000 VND per tael. For example, SJC Company bought at 120.1 million VND, sold at 122.7 million VND; Phu Quy Company bought at 119.8 million VND, sold at 122.8 million VND. Bao Tin Minh Chau Company alone has the highest selling price in the market at 123 million VND, bought at 120 million VND... The price of gold rings is at a record high.

SJC gold bar price increased to a record. PHOTO: NGOC THANG

The precious metal on the world market increased sharply by 20 USD per ounce to 3,397 USD. Gold reached a two-week high due to concerns about wider economic risks. Investors remained cautious ahead of important inflation data due for release, which could provide insight into the future direction of monetary policy of the US Federal Reserve (Fed). The development of the precious metal took place amid increasing political tensions surrounding the independence of the central bank following US President Donald Trump's controversial attempt to remove a Fed governor.

According to analysts, the appeal of gold stems from rising inflationary pressures, which threaten to erode the purchasing power of fiat currencies. In addition, declining confidence in the long-term stability of the US dollar is also another fundamental driver supporting higher gold prices. These factors create an attractive investment thesis for the precious metal as a portfolio hedge against currency devaluation and inflationary pressures./.

According to Thanh Nien Newspaper

Source: https://thanhnien.vn/gia-vang-hom-nay-2882025-pha-ki-luc-cu-sjc-tang-lap-ky-luc-moi-185250828083927369.htm

Source: https://baolongan.vn/gia-vang-hom-nay-28-8-pha-ky-luc-cu-sjc-tang-lap-ky-luc-moi-a201504.html