Gold Prices Unchanged Amid Bullish Sentiment and Overbought Market Conditions

Gold prices remained steady on August 29, 2026, as bullish speculators continued to drive market sentiment.

The price of SJC gold bars at major domestic trading brands, including Saigon Jewelry Company and PNJ Group, held firm at 147.2-150.2 million VND/ounce.

However, analysts warn that a deep correction is not ruled out as the market shows signs of being overbought after rising around 15% in August.

Senior analyst Matt Simpson from StoneX predicts that Fed Chairman Kevin Warsh will maintain a hawkish stance on monetary policy, potentially causing gold prices to fall in the short term.

Despite this, investors who missed the previous gold price rally may see this as an opportunity to buy at the bottom and aim for the $5,000/ounce mark.