Gold price today (July 31): World gold prices plummeted after US Federal Reserve Chairman Jerome Powell reaffirmed that the Fed is in no hurry to cut interest rates. Meanwhile, domestic gold bar prices this morning continued to increase by VND300,000/tael compared to yesterday morning.
Domestic gold ring price today
Gold ring prices today (July 31) of brands increased and decreased in opposite directions compared to yesterday morning.
Specifically, SJC listed the price of gold rings at 114.7 - 117.2 million VND/tael (buy - sell), an increase of 300,000 VND/tael in both directions.
DOJI traded gold rings at 116.1 - 118.6 million VND/tael, up 200,000 VND/tael in both directions.
Bao Tin Minh Chau gold rings are stable in both directions, currently trading at 116.3 - 119.3 million VND/tael (buy - sell).
PNJ traded gold rings at 115.4 - 118.4 million VND/tael, down 400,000 VND/tael in both directions compared to yesterday morning.
Phu Quy traded gold rings at 115.2 - 118.2 million VND/tael, an increase of 200,000 VND/tael in both directions compared to yesterday morning.
Domestic gold bar price today
Gold bar price Domestic gold prices increased by 300,000 VND/tael compared to yesterday morning. On the morning of July 31, DOJI, SJC, PNJ, and Bao Tin Minh Chau brand gold bars were bought at 120 million VND/tael and sold at 121.5 million VND/tael, unchanged from yesterday morning.
Particularly, Phu Quy SJC brand gold bars are being bought at 500,000 VND lower than other brands, listed at 119.5 million VND/tael for buying and 121.5 million VND/tael for selling, unchanged from yesterday morning.
Domestic gold bar prices updated on the morning of July 31 as follows:
Yellow | Area | Early morning 30-7 | Early morning 31-7 | Difference | ||||||
Buy | Sell | Buy | Sell | Buy | Sell | |||||
Unit of measure: Million VND/tael | Unit of measure: Thousand dong/tael | |||||||||
DOJI | 119.7 | 121.2 | 120 | 121.5 | +300 | +300 | ||||
Ho Chi Minh City | 119.7 | 121.2 | 120 | 121.5 | +300 | +300 | ||||
SJC | Ho Chi Minh City | 119.7 | 121.2 | 120 | 121.5 | +300 | +300 | |||
Hanoi | 119.7 | 121.2 | 120 | 121.5 | +300 | +300 | ||||
Danang | 119.7 | 121.2 | 120 | 121.5 | +300 | +300 | ||||
PNJ | Ho Chi Minh City | 119.7 | 121.2 | 120 | 121.5 | +300 | +300 | |||
Hanoi | 119.7 | 121.2 | 120 | 121.5 | +300 | +300 | ||||
Bao Tin Minh Chau | Nationwide | 119.7 | 121.2 | 120 | 121.5 | +300 | +300 | |||
Phu Quy SJC | Nationwide | 119.2 | 121.2 | 119.5 | 121.5 | +300 | +300 | |||
World gold price today
World gold price Gold prices fell sharply today, with spot gold prices at $3,274.3/ounce. Global gold prices generally fell 1.53% in the past 24 hours, equivalent to a decrease of $51/ounce.
With the domestic gold bar price increasing and the world gold price listed at Kitco at 3,274.3 USD/ounce (equivalent to about 104.5 million VND/tael converted according to Vietcombank exchange rate, excluding taxes and fees), the difference between domestic and world gold prices is about 17 million VND/tael.
Gold prices fell to their lowest level of the session on Wednesday after Fed Chairman Jerome Powell reaffirmed that the US central bank is in no rush to cut interest rates, dampening expectations of easing in September.
The Federal Open Market Committee (FOMC) voted 9–2 to keep its benchmark interest rate unchanged at 4.25%–4.50%. Most policymakers said the Fed should delay cutting rates to assess the impact of the tariffs to inflation. Some also stressed that the strong labor market allows them to be more patient.
In a statement after the meeting, the Fed Chairman said that while trade and import balance fluctuations continue to weigh on data, recent indicators suggest that economic activity has slowed in the first half of the year. The Fed had previously described growth as occurring at a “solid pace.” The Fed reiterated its assessment that the labor market “remains strong” and that inflation “remains somewhat elevated.” However, the central bank withdrew its previous note that the level of uncertainty about the economic outlook “has declined,” and instead said it “remains elevated.”
Although gold initially held key support at $3,300 an ounce, Powell’s lack of guidance triggered a wave of selling pressure. Spot gold ended the session at $3,274.30 an ounce, down 1.6% on the day. U.S. gold futures closed down 0.8% at $3,352.80 an ounce.
Meanwhile, the US dollar continued to rise after Mr. Powell's speech. "The soaring US dollar has put more pressure on gold, although the precious metal has maintained its position within the fluctuation range. A sharper correction is possible, but this will attract buyers because the overall outlook for gold is still uncertain, the US government debt is high, the US dollar is still strong," Reuters news agency commented.
Source: https://baolangson.vn/gia-vang-hom-nay-31-7-vang-the-gioi-lao-doc-truoc-phat-bieu-cua-chu-chair-fed-5054680.html
Comment (0)