Gold price today (August 20): World gold price drops sharply

Domestic gold bar price today

DOJI , SJC, PNJ, Bao Tin Minh Chau brands are all available. Gold bar price is at 124 - 125 million VND/tael (buy - sell), stable compared to early yesterday morning in both directions.

Phu Quy SJC's buying price is 123 million VND/tael, 1 million VND/tael lower than other brands' gold bars; its selling price is 125 million VND/tael, equal to other brands' prices.

Domestic gold bar prices updated at 5:00 a.m. August 20 as follows:

Domestic gold ring price today

Gold ring price Today (August 20) is stable compared to yesterday's price in most brands, listed at the highest level of 120.2 million VND/tael for sale. Phu Quy gold ring price decreased by 100,000 VND/tael in both directions; PNJ gold ring price increased by 200,000 VND/tael in purchase direction.

Specifically, SJC listed the price of gold rings at 117 - 119.5 million VND/tael (buy - sell), equal to yesterday's price in both directions.

PNJ gold rings are traded at 117 million VND/tael for buying (up 200,000 VND/tael), 119.8 million VND/tael for selling, the same price as yesterday.

DOJI gold rings are traded at 117 - 120 million VND/tael (buy - sell), equal to yesterday's price in both directions.

Bao Tin Minh Chau brand gold rings are listed at 117.2 - 120.2 million VND/tael (buy - sell), unchanged from yesterday's price in both directions.

Phu Quy brand listed the price of gold rings at 116.7 - 119.7 million VND/tael (buy - sell), down 100,000 VND/tael compared to yesterday's price in both directions.

World gold price today

In the world gold market, the spot gold price today (August 20) decreased sharply by 17.71 USD/ounce compared to the previous session, listed around 3,317.2 USD/ounce (equivalent to 106.29 million VND/tael converted according to Vietcombank exchange rate, excluding taxes and fees).

Traders and investors are cautious ahead of the Fed’s annual economic policy symposium, which is scheduled to begin on August 21 in Kansas City. A speech by Fed Chairman Jerome Powell is expected to provide important information on the path of monetary policy, especially the possibility of a rate cut in the US in September 2025.

Gold prices continue to trade in a narrow range as traders await the next catalyst to drive price action and an important speech from Fed Chairman Jerome Powell is seen as a potential factor, according to Ole Hansen, Head of Commodity Strategy at Saxo Bank.

For gold, this uncertainty, coupled with a sluggish summer market, has led to a tug-of-war, with prices trading in a narrow range for the past three months, around $3,350, supported by steady investment demand, Ole Hansen said.

According to the World Gold Council, central banks globally purchased 415 tonnes of gold in the first half of 2025, down 21% from the same period in 2024. However, the entire year of 2024 saw a record purchase of 1,089 tonnes of gold by central banks, reflecting the increasingly important role of gold in national reserves. The downward trend in gold purchases this year reflects the cautious sentiment of central banks in the context of global economic fluctuations.

Gold prices were pressured by a rise in the US dollar index. A stronger US dollar makes gold, which is priced in US dollars, more expensive for investors holding other currencies. Meanwhile, crude oil prices rose slightly, trading around US$63 a barrel, contributing to inflationary pressures and indirectly affecting the gold market.