Gold prices today (August 31): The downward trend continues. - Vietnam.vn

AI desk brief

Gold is under pressure into the new week, with Asian spot gold quoted around $4,438/oz at 6:30 a.m. Vietnam time on Aug. 31, down $16/oz from Friday’s close. The article flags continued downside for both global and Vietnamese domestic prices, with SJC bars holding around 148.7 million VND/tael and 24K gold rings mostly unchanged on the day despite the broader downtrend.

Domestic price action in Vietnam remained flat versus the prior session, but the article emphasizes that local gold has been tracking the global market closely. SJC bars were quoted around 145.7-148.7 million VND/oz buy-sell at multiple retailers, while plain gold rings were generally seen around 145.5-149.7 million VND/oz depending on brand, with typical spreads of 3-4 million VND/oz.

Near term, the key catalyst set is the week’s US labor and activity data: ISM manufacturing, JOLTS, ADP, Bank of Canada decision, weekly jobless claims, and ISM services. The piece suggests traders are watching whether softer data keeps the gold pullback orderly or whether stronger prints add to the downside pressure already visible at the start of the week.