Gold price today 7/24: Turned down 700,000 VND per tael

Domestic gold prices fell in line with the world market when the US and many countries reached tariff agreements.

On the morning of July 24, the price of gold bars at Saigon Jewelry Company - SJC was bought at 120 million VND, sold at 122 million VND, down 700,000 VND compared to yesterday. The difference between buying and selling prices of gold bars at SJC remained at 2 million VND/tael instead of 1.5 million VND as at the end of last week.

Similarly, the price of 4-number 9 gold rings at SJC decreased by 500,000 VND, buying down to 115 million VND, selling 117.5 million VND. Phu Nhuan Jewelry Company (PNJ) alone bought 116.6 million VND, selling 119.2 million VND at the beginning of the day; Doji Group bought 117 million VND, selling 119.5 million VND... Currently, the difference in buying and selling prices of gold rings at the companies remains at 2.5 million VND/tael, higher than buying and selling gold bars.

Gold price on the morning of July 24 decreased by 700,000 VND/tael. PHOTO: NGOC THANG

The world gold price has fallen to $3,390/ounce, nearly $47 lower than yesterday. The precious metal fell as many trade agreements between the US and other countries are nearing completion. Yesterday, Japanese Prime Minister Shigeru Ishiba said that the US has lowered tariffs on imported Japanese cars from 25% to 15%.

Following the announcement of negotiations with Japan, there has been recent news that the US and the European Union (EU) are getting closer to a tariff agreement. Accordingly, the US will impose a 15% tariff on EU goods imported into the country. This is a welcome sign of progress in President Donald Trump's tariff negotiations.

Speaking on CNBC, Bart Melek, head of commodity strategy at TD Securities, commented: We are seeing a trade deal with Japan and we are looking at a deal with the EU. That means there are no major retaliatory tariffs from the EU, which supports the risk-on sentiment that has led to the stock market performing quite well. The temporary easing of uncertainties has made investors less interested in safe-haven assets like gold. This is the reason for the price of precious metals to go down.../.

According to Thanh Nien Newspaper

Source: https://thanhnien.vn/gia-vang-hom-nay-2472025-quay-dau-giam-700000-dong-mot-luong-185250724071411464.htm

Source: https://baolongan.vn/gia-vang-hom-nay-24-7-quay-dau-giam-700-000-dong-mot-luong-a199384.html