Gold price today July 17: Domestically stable, world fluctuates strongly

Domestic gold prices remained unchanged despite strong fluctuations in precious metals worldwide. The high price of SJC gold bars was reduced to VND14.6 million/tael.

Saigon Jewelry Company - SJC did not change the price of gold bars, buying at 118.6 million VND, selling at 120.6 million VND. Doji Group bought at 118.6 million VND, selling at 120.6 million VND. Phu Quy Company bought at 117.9 million VND, selling at 120.6 million VND... Meanwhile, only Mi Hong Company slightly increased the buying price of SJC gold bars by 200,000 VND per tael, up to 119.6 million VND, while the selling price remained at 120.6 million VND. The price of gold rings also did not change at the beginning of the day. SJC Company bought at 114.2 million VND, selling at 116.7 million VND; Phu Quy Company bought at 114.6 million VND, selling at 117.6 million VND; Doji Group bought at 115.6 million VND, selling at 118.1 million VND...

SJC gold bar price remains stable. PHOTO: TX

Since the information about the draft amendment and supplement to Decree 24 on gold market management was announced, the domestic gold market has fluctuated quite slowly. This has narrowed the gap between SJC gold bars and the world price to 14.6 million VND/tael instead of more than 15 million VND/tael before; gold rings are 10.7 - 12 million VND/tael higher.

World gold prices fell by $6/ounce to $3,341. In the US trading session (night of July 16), world gold prices rose sharply from $3,322 per ounce to $3,371 and then quickly dropped to $3,340. Gold prices skyrocketed after news that President Trump was about to fire Federal Reserve Chairman Jerome Powell. However, the precious metal later fell sharply when Trump said he had no intention of firing Powell immediately.

The Fed speculation comes amid mixed economic data, which has kept inflation concerns top of mind for market participants. The US Bureau of Labor Statistics reported that the producer price index (PPI) was unchanged in June, below the consensus estimate of a 0.2% monthly increase. Similarly, the core PPI, which excludes volatile items, was also unchanged, again missing expectations./.

According to Thanh Nien Newspaper

Source: https://thanhnien.vn/gia-vang-hom-nay-1772025-trong-nuoc-dung-yen-the-gioi-bien-dong-manh-185250717084830016.htm

Source: https://baolongan.vn/gia-vang-hom-nay-17-7-trong-nuoc-dung-yen-the-gioi-bien-dong-manh-a198913.html