Fed keeps interest rates unchanged: Gold price drops 300,000 VND/tael

Photo caption — Gold price drops 300,000 VND/tael. Illustration photo: Thanh Vu/VNA

Specifically, at 9:20 a.m., Saigon Jewelry Company (SJC), DOJI Group listed the price of gold bars at 119.7 - 121.2 million VND/tael (buy - sell), down 300,000 VND/tael in both buying and selling compared to the closing price yesterday.

Similarly, Bao Tin Minh Chau Company listed the price of gold bars and gold rings at 116 - 119 million VND/tael (buy - sell), down 300,000 VND/tael in both buying and selling compared to the closing price yesterday.

Saigon Jewelry Company (SJC) listed the price of gold rings at 115.8 - 118.3 million VND/tael (buy - sell), down 300,000 VND/tael in both buying and selling compared to yesterday's closing price.

DOJI Group listed the price of gold rings at 116 - 118.5 million VND/tael (buy - sell), down 100,000 VND/tael in both buying and selling compared to yesterday's closing price.

In the world market, gold prices fell more than 1% in the trading session on July 30 after the US Federal Reserve (Fed) kept interest rates unchanged and did not give a clear signal about when it could adjust.

At the same time, strong US economic data further reduced the appeal of non-yielding assets like gold.

At 02:08 (Vietnam time), spot gold price decreased 1.5% to 3,275.92 USD/ounce. US gold futures price at the close of the session decreased 0.8% to 3,352.8 USD/ounce.

The Federal Open Market Committee (FOMC) voted 9-2 to keep interest rates unchanged in a range of 4.25-4.5%. The decision did not provide a clear signal on the timing of a rate cut and was met with disagreement from two members of the Fed's Board of Governors.

Fed Chairman Jerome Powell said the central bank has not made any decisions about its September 2025 meeting, despite many investors expecting that to be when the Fed begins cutting interest rates later this year. He said downside risks to the labor market are becoming more apparent.

Independent metals trader Tai Wong said Powell continued to prioritize inflation over concerns about the labor market. He said the rising dollar has added pressure on gold, although the precious metal remains at the bottom of its trading range. If gold corrects further, he said, it could attract buying interest again, as the factors supporting gold, such as instability, high US debt and the trend toward de-dollarization, remain strong.

The ADP National Employment Report showed that private payrolls in the US increased more than expected in July 2025, although there were still signs that the labor market was slowing.

Nitesh Shah, a commodity strategist at WisdomTree, said the more the Trump administration criticizes current policies, the more likely gold prices will rise.

Gold prices tend to rise in low interest rate environments and during times of uncertainty.

Source: https://doanhnghiepvn.vn/kinh-te/fed-giu-nguyen-lai-suat-gia-vang-mieng-giam-300-000-dong-luong/20250731095244383