Gold price this afternoon, August 23: Gold bar and gold ring prices increase to record high, world gold price climbs vertically

Domestic gold price this afternoon August 23, 2025

As of 4:00 p.m. this afternoon, August 23, 2025, the domestic gold bar price increased sharply to a record high. Specifically:

SJC gold price is listed by DOJI Group at 125.6-126.6 million VND/tael (buy - sell), a sharp increase of 1.2 million VND/tael 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 125.6-126.6 million VND/tael (buy - sell), an increase of 1.2 million VND/tael in both buying and selling directions compared to the closing price on August 22 yesterday.

At Mi Hong Jewelry Company, the price of Mi Hong gold at the time of survey was listed at 126-126.6 million VND/tael for buying and selling. Compared to yesterday, the gold price increased by 1.6 million VND/tael for buying and 1.2 million VND/tael for selling.

SJC gold price at Bao Tin Minh Chau Company Limited is traded by businesses at 125.6-126.6 million VND/tael (buy - sell), the price increased by 1.2 million VND/tael in both buying and selling directions compared to the same period yesterday.

SJC gold price at Phu Quy is traded by businesses at 124.6-126.6 million VND/tael (buy - sell), gold price increased by 1.2 million VND/tael in both buying and selling directions compared to yesterday.

As of 4:00 p.m. on August 23, 2025, the price of 9999 Hung Thinh Vuong round gold rings at DOJI was listed at 118.8-121.8 million VND/tael (buy - sell); an increase of 1.4 million VND/tael in both buying and selling directions compared to yesterday.

Bao Tin Minh Chau listed the price of gold rings at 118.7-121.7 million VND/tael (buy - sell); an increase of 1.1 million VND/tael in both buying and selling directions compared to yesterday.

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

World gold price this afternoon 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 p.m. on August 23, Vietnam time, was 3,371.58 USD/ounce. This afternoon's gold price increased by 43.03 USD/ounce compared to yesterday. Converted according to the USD exchange rate at Vietcombank (26,520 VND/USD), the world gold price is about 107.8 million VND/tael (excluding taxes and fees). Thus, the price of SJC gold bars is 18.8 million VND/tael higher than the international gold price.

Gold prices have been climbing sharply after Federal Reserve Chairman Jerome Powell signaled a possible interest rate cut next month. However, the prospect of rising inflation is creating complications that could limit the precious metal’s gains.

KCM Trade expert Tim Waterer said that gold prices are currently affected by many different factors. The possibility of a peace agreement between Russia and Ukraine could reduce the demand for gold as a safe haven, which has been a key factor in the recent increase in gold prices.

Gold prices remain well supported, but any complications in the Fed’s monetary policy could make it difficult for gold to rally further. As of the end of the week, gold was trading around $3,371 an ounce, up slightly from last week. Much of the gain was due to the market’s reaction to Powell’s speech at the annual conference in Jackson Hole, Wyoming.

In his speech, Mr. Powell mentioned economic risks such as higher inflation and slower growth, but also said there was room for the Fed to cut interest rates. He said that with monetary policy in restrictive territory, the underlying outlook and changes in the balance of risks could require adjustments to the policy stance.

"Powell's statement came as a surprise to many as they did not expect the Fed Chairman to be dovish. His message was interpreted as supportive of policy easing, which helped send gold prices back on track this week," said Naeem Aslam, investment strategist at Zaye Capital Markets.

Christopher Vecchio, Head of Futures and Forex Strategy at Tastylive.com, shares the view that while summer is typically slow, gold prices are poised for a fresh rally as the Fed prepares to ease monetary policy.

Powell’s dovish tone has given gold a fresh boost, but the market is still trading in a range. Philip Streible, chief market strategist at Blue Line Futures, said gold has potential to rise next week, but not without risk.

Notable economic data releases next week include US New Home Sales on Monday, Durable Goods Orders and Consumer Confidence on Tuesday, Preliminary Q2 GDP, Weekly Jobless Claims and Pending Home Sales on Thursday, and PCE, Personal Income and Spending on Friday. These data will provide further clues about the health of the US economy and the Fed's policy path.

Gold Price Forecast

The world gold price is still fluctuating within a limited range as in the past four months. However, recent statements by the Chairman of the US Federal Reserve (Fed) Jerome Powell are creating positive sentiment in the market. Both professional investors and the public expect the gold price to increase next week.

According to the latest survey of 13 market analysts, there is no opinion that gold prices will decrease. Up to 8 experts, equivalent to 62%, predict gold prices will increase. The remaining five experts, accounting for 38%, believe that gold prices will stabilize next week.

In addition, a direct investor poll also showed 194 votes. Although the level of optimism is slightly lower than before, the majority of individual investors still expect gold prices to increase. Specifically, 115 participants, equivalent to 59%, predict gold prices will increase; 35 people (18%) think prices will decrease; and 44 people (23%) think gold prices will remain stable.

"The yield curve will steepen and the dollar will weaken, creating a favorable environment for gold. Even though the market is in a quiet summer, it is difficult to imagine gold not rising next week and longer term," said Ole Hansen, head of commodity strategy at Saxo Bank. According to Hansen, gold needs to break above $3,450 an ounce before aiming for records above $3,500 an ounce.

Alex Kuptsikevich, Market Analyst at FxPro, said the gold market remains in a delicate balance, trading in the middle of its wide range. He said the Fed could ease policy in September but then pause. This delay could cause investors to return to the US dollar.

Technically, gold has been consolidating since April, and a breakout could happen in the coming weeks. The upside potential for gold is equally impressive, with a move to $4,600 an ounce if the Fed shifts to an ultra-loose policy stance.

Chantelle Schieven, head of research at Capitalight Research, said gold remains well supported but gains may be limited as September’s rate cut has already been priced in. What could be more exciting for the gold market is a change in tone from the Fed, with more focus on the weakening labor market and less on inflation.

Along with the sharp rise in gold prices, analysts said the market has once again fully priced in a rate cut at next month's monetary policy meeting. The CME FedWatch tool shows the market is pricing in at least one more rate cut before the end of the year.