Gold price breaks 5 consecutive increasing sessions

(Dan Tri) - Each tael of gold bar has decreased by 400,000 VND in both buying and selling prices. The selling price is around 121.1 million VND/tael.

At the end of the trading session on July 15, the price of SJC gold bars was listed by large enterprises at 119.1-121.1 million VND/tael (buy - sell), down 400,000 VND/tael in both buying and selling compared to the previous session. Previously, this item recorded a series of price increases for 5 consecutive sessions.

The price of gold rings also decreased by 400,000 VND in both directions, listed at 114.6-117.1 million VND/tael (buy - sell).

Domestic gold prices fell amid a sudden sharp drop in global prices. In the international market, gold prices were trading around $3,330/ounce, down more than $20 compared to before.

SJC gold bar price decreased by 400,000 VND per tael (Photo: Manh Quan).

World gold prices turned down after hitting a three-week high, as investors focused on trade developments and upcoming US economic data.

After the recent strong rally, the market is seeing some profit-taking, but overall demand for gold remains strong, according to Bart Melek, head of commodity strategy at TD Securities.

The US Department of Labor reported on July 15 that the consumer price index (CPI) rose 0.3% in June, marking the strongest increase since January. Previously, the CPI had only increased slightly by 0.1% in May.

Thus, after one year (as of the end of June), CPI increased by 2.7%, higher than the 2.4% recorded in the previous month and exceeding the 2.6% forecast previously given by economic experts.

With inflation remaining low from February to May, President Donald Trump has repeatedly called on the US Federal Reserve to cut interest rates to lower borrowing costs and boost economic growth.

Investors are now waiting for data on the producer price index (PPI) on July 16 (US time) to assess the Fed's policy direction in the coming time.

Mr. Melek commented that the US President continues to call for interest rate cuts, which will fundamentally support gold prices. In a low interest rate environment, gold often becomes more attractive to investors.

The Fed is holding rates steady while it waits for data to show the impact of tariffs. However, after yesterday's data, traders are still betting that the Fed will likely cut rates in September, with a probability of around 60%.

Central rate sets new record

The State Bank of Vietnam closed yesterday's session listing the central exchange rate at 25,148 VND, up 22 VND from the previous session, setting a new record high. With a 5% margin compared to the central exchange rate, commercial banks are allowed to buy and sell USD in the range of 23,890-26,405 VND.

The exchange rate at large banks is 25,920-26,310 VND (buy - sell), up 20 VND in both buying and selling. At medium-sized banks, the USD price is 25,930-26,320 VND (buy - sell), up 40 VND in buying and up 30 VND in selling.

On the free market, foreign currency exchange points buy and sell USD around 26,350-26,420 VND (buy - sell), down 10 VND in both buying and selling compared to before.

Source: https://dantri.com.vn/kinh-doanh/gia-vang-dut-chuoi-tang-5-phien-lien-tiep-20250716065741659.htm