Gold price today, July 16: Sold out on world market

(NLDO) - Gold price today decreased by tens of USD/ounce as the USD continued to increase in value, investors rushed to sell.

Gold price today international market plummeted

Gold prices today on the international market fell in the context of the US consumer price index (CPI) report which is said to have no impact on inflation.

Specifically, the CPI in June increased by 2.7% compared to the same period last year, in line with market expectations. The core CPI (excluding food and energy) increased by 2.9% compared to the same period last year, in line with the predictions of financial investors.

In response to the news, the USD Index rose 0.56% to 98.63 points. This means that the USD has increased in value, making gold more expensive for investors holding other foreign currencies.

Meanwhile, the US bond interest rate unexpectedly increased to nearly 4.5%, which prompted many people to put their capital into bonds, limiting the flow of money into the gold market. Today's gold price fell into a disadvantageous position.

Under pressure from the US dollar and bond interest rates, traders are worried that gold prices will weaken today. Therefore, in last night's trading session, when the world gold price reached 3,367 USD/ounce, many investors rushed to sell off.

As of 4:00 a.m. on July 16, the world gold price today decreased by 43 USD, down to 3,324 USD/ounce.

Previously, at the end of July 15, the price of SJC gold in the Vietnamese market was sold at 121.1 million VND/tael, while the price of ring gold was at 117.1 million VND/tael.

Source: https://nld.com.vn/gia-vang-hom-nay-16-7-bi-ban-thao-tren-thi-truong-the-gioi-196250716052921984.htm