On August 21, 2026, global gold prices saw a remarkable increase after a slight correction. The SJC gold price is likely to rise further after a strong breakout the previous day. On the evening of August 20, gold prices surged sharply, reaching over $4,538 per ounce after dipping close to $4,450 earlier in the day. This quick rebound indicates a strong demand for gold, which could lead to further increases in the SJC gold price on the morning of August 21.

The volatility in gold prices on August 20 was notable. After a drop to around $4,450 per ounce, gold prices quickly reversed course, climbing back above $4,538 per ounce. This recovery of nearly $90 per ounce from the day's low reflects a robust buying interest, particularly as prices fell to the $4,450 level.

Prior to this surge, gold had faced downward pressure following the U.S. Department of Labor's report showing initial jobless claims dropped to 206,000, lower than the forecast of 210,000. Additionally, the Philadelphia Fed's manufacturing index for August increased from 41.4 to 47.4, significantly above the expected 25, marking the highest level in five years. These economic indicators suggest that the U.S. labor market and manufacturing activity remain strong, raising the likelihood that the Federal Reserve will maintain a tight monetary policy.

However, the downward pressure from U.S. economic data was not enough to keep gold prices down for long. The precious metal rebounded quickly, aided by a weakening U.S. dollar, declining long-term U.S. Treasury yields, and ongoing demand for safe-haven assets amid financial market uncertainties.

As of August 21, 2026, the domestic gold price for SJC gold was listed at 143-146 million VND per tael (buy-sell), reflecting an increase of 3.3 million VND per tael from the previous session. The price for SJC gold rings was set at 142.5-145.5 million VND per tael, also rising by 3.3 million VND. Meanwhile, the plain gold rings from Bao Tin Minh Chau were priced at 143.7-147.7 million VND per tael, marking an increase of 3.5 million VND for buying and 3.6 million VND for selling compared to the prior session.

Looking ahead, Wells Fargo Investment Institute forecasts that gold prices could rise by approximately 11% by the end of the year, supported by expectations of the Federal Reserve slowing interest rate hikes, improved ETF inflows, and sustained demand for gold in Asia and from central banks. Despite a 5% decline in the first half of the year, Asian investors have continued to buy gold. Demand from central banks also rebounded in the second quarter, reinforcing gold's role amid geopolitical instability, inflation risks, and market volatility.

While Wells Fargo has lowered its year-end gold price forecast to between $4,900 and $5,100 per ounce, this target suggests a potential increase of about 9-14% from the current level of approximately $4,485. Sameer Samana, head of global equity and real asset strategy at Wells Fargo, noted that the risks of a decline in gold prices are becoming increasingly reflected in the market. He cautioned that gold could drop to $3,500 per ounce in the short term, while the $4,500-$4,900 per ounce range may act as resistance. In the long term, if the economy slows due to high oil prices and interest rates, central banks may return to cutting rates, which would support gold prices.