On the morning of July 31, the price of gold bars at Saigon Jewelry Company - SJC decreased by 300,000 VND compared to the end of yesterday, down to 119.7 million VND/tael for buying and 121.2 million VND for selling. Similarly, SJC reduced the price of gold rings by 300,000 VND, bringing the buying price down to 114.4 million VND and the selling price to 116.9 million VND. The difference between the buying and selling price of gold bars at SJC is currently 1.5 million VND/tael, but the price of gold rings is still high at 2.5 million VND/tael.
Phu Nhuan Jewelry Company reduced the price of gold rings by 900,000 VND to 114.5 million VND and sold at 117.5 million VND; Doji Company also reduced the price by 300,000 VND, buying at 115.8 million VND and selling at 118.3 million VND...
Gold prices fell across the board on the morning of July 31. PHOTO: NGOC THANG
The world gold price fell by 46 USD after one day and fell below the threshold of 3,300 USD/ounce. At the beginning of the day, the gold price was around 3,287 USD/ounce. The precious metal fell sharply when the US Central Bank kept interest rates unchanged as predicted despite a series of criticisms from President Donald Trump. In the early morning of July 31 (Vietnam time), the Federal Open Market Committee (FOMC) - the decision-making body at the US Federal Reserve (Fed) - announced to keep interest rates unchanged at 4.25% - 4.5% with a result of 9 votes in favor and 2 votes against. This decision was opposed by two governors Michelle Bowman and Christopher Waller. Both wanted the Fed to cut interest rates because they believed that inflation was under control and the labor market could soon weaken.
Fed Chairman Jerome Powell said after the meeting that US central bank officials have not made a decision on interest rates in September. According to CNBC, between now and the next policy meeting, Fed officials will have two more jobs reports and two inflation reports before making a decision on interest rates in September.
In addition, the US Department of Commerce released data on July 30 showing that the gross domestic product (GDP) increased by 3% in the second quarter of 2025, according to seasonally and inflation-adjusted figures. This figure far exceeded the Dow Jones estimate of 2.3% and completely reversed the 0.5% decline in the first quarter of 2025.../.
According to Thanh Nien Newspaper
Source: https://thanhnien.vn/gia-vang-hom-nay-3172025-dong-loat-giam-khi-the-gioi-lao-doc-185250731070915814.htm
Source: https://baolongan.vn/gia-vang-hom-nay-31-7-dong-loat-giam-khi-the-gioi-lao-doc-a199851.html
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