Gold price on July 22: Gold bars and gold rings increased sharply

In today's trading session, gold price Domestic gold bars and rings have all increased sharply. Meanwhile, gold prices on the international market continue to heat up.

Specifically, at 2:00 p.m. on July 22, Saigon Jewelry Company (SJC) listed the buying and selling price of SJC gold bars at 120-122 million VND/tael, unchanged for buying and increased by 500,000 VND/tael for selling compared to the previous session. The difference between buying and selling was 2 million VND.

Gold price statistics of Dragon Viet Online Service Joint Stock Company VDOS - Updated at 2:00 p.m. on July 22.

The price of SJC 9999 gold ring is 115 million VND/tael for buying and 117.5 million VND/tael for selling, an increase of 500 thousand VND per tael for both buying and selling.

Meanwhile, DOJI gold bar prices in Hanoi and Ho Chi Minh City were bought at 120 million VND/tael and sold at 122 million VND/tael, unchanged at the buying price and increased by 500 thousand VND per tael at the selling price compared to the previous session's close.

This brand lists prices gold ring Doji Hung Thinh Vuong 9999 is at 116.6-119.1 million VND/tael (buy-sell), up 500 thousand VND/tael in both buying and selling compared to yesterday.

PNJ Gold listed the buying price at 116 million VND/tael and the selling price at 119 million VND/tael, an increase of 900 thousand VND/tael for buying and 1 million VND/tael for selling compared to the previous session.

As of 2:00 p.m. on July 22 (Vietnam time), the world gold price was trading at 3,384 USD/ounce.

World gold price chart on July 22. (Photo: kitco.com)

World gold prices were supported by a weaker US dollar. The US dollar index, which had increased significantly last week, is now losing momentum and falling sharply in last night's trading session.

In addition, the demand for safe haven gold is increasing as trade tensions between the US and major partners are escalating, increasing market instability.

The next policy meeting of the US Federal Reserve (FED) is scheduled for July 29-30. Investors are expecting the FED to lower interest rates in September. If the FED signals a rate cut or the USD continues to weaken, the world gold price could surpass the threshold of 3,400 USD/ounce.

Gold is considered a safe haven asset in times of uncertainty and tends to increase in price in low interest rate environments.

Today, the USD-Index is at 97.97 points; the yield on 10-year US Treasury bonds is at 4.383%; US stocks are stable; world oil prices slightly decreased, trading at 68.81 USD/barrel for Brent oil and 65.65 USD/barrel for WTI oil.

Source: https://baoquangninh.vn/gia-vang-ngay-22-7-vang-mieng-vang-nhan-tang-manh-3367961.html