World gold prices have plummeted for three consecutive sessions - Screenshot
World gold price has approached the peak
The decrease of 31 USD/ounce in the world gold price is equivalent to 984,000 VND/tael. Converted according to the exchange rate listed at the bank, the world gold price is equivalent to 105.9 million VND/tael.
World gold prices have fluctuated strongly in the past week. At the beginning of the week, world gold prices increased sharply by 100 USD/ounce to 3,430 USD/ounce, due to concerns about risks as the August 1 tariff date approaches and concerns about the risk of financial market instability when US President Donald Trump continuously puts pressure on the Chairman of the US Federal Reserve (FED) to reduce interest rates.
However, after reaching the 3,430 USD/ounce mark, the world gold price fell more than 110 USD/ounce due to profit-taking pressure and ended the trading week at 3,338 USD/ounce.
Expert Tran Duy Phuong commented that with a decrease of more than 110 USD/ounce, the upward momentum of world gold prices has broken.
According to Mr. Phuong, the world gold price has dropped sharply because the US has continuously reached trade agreements with partners such as Japan, Indonesia, the Philippines... and the possibility of reaching another agreement with the EU has cooled down the trade war. This has caused the gold price to drop sharply in 3 consecutive trading sessions.
Besides, the world gold price also decreased because investors also transferred capital to the stock market and the USD increased again.
The factor supporting gold prices in recent times has been tariffs, but tariffs are now in their final stages, while world gold prices are approaching their peak after increasing by more than 700 USD/ounce since the beginning of 2025.
"The possibility is that the world gold price will decrease by about 50% of the increase, or about 350 USD/ounce, to 3,000 USD/ounce. However, in the short term, the gold price will still fluctuate up and down," Mr. Phuong commented.
SJC gold bar price is 15.2 million VND/tael higher than world gold price
Compared to the converted world gold price, the price of SJC gold bars is 15.2 million VND/tael higher - Photo: THANH DAM
According to analysts, next week the market will be watching the news from the FED meeting. However, the FED is likely to keep interest rates unchanged at the July 31 meeting. Currently, the market expects the FED to cut interest rates twice this year, and this news has been absorbed into the gold price.
Therefore, the world gold price will only increase if the FED signals that it will cut interest rates more than twice. The world gold price is likely to increase slightly to the 3,350 USD/ounce range early next week before decreasing at the end of the week.
Domestically, the price of SJC gold bars today is listed at 121.1 million VND/tael for sale and 119.6 million VND/tael for purchase.
The selling price of 9999 gold rings at SJC Company is 117 million VND/tael, buying price is 114.5 million VND/tael.
Currently, the difference between buying and selling prices of SJC gold bars at large companies is commonly at 1.5 million VND/tael.
Compared to the converted world gold price, the price of SJC gold bars is 15.2 million VND/tael higher, while the price of 9999 gold rings is 11.1 million VND/tael higher.
Source: https://tuoitre.vn/tuan-sau-gia-vang-tang-hay-giam-2025072721555488.htm
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