Gold price today 15-7 decreased sharply, USD increased in price

(NLDO) - Gold prices today plummeted as investors sold this precious metal to take profits and the USD increased strongly.

Gold price today goes down

Gold price today surprises

At 6:00 a.m. on July 15, the world gold price today fell to 3,345 USD/ounce, down 27 USD compared to the peak in last night's trading session of 3,372 USD/ounce. The price of gold for August delivery also decreased by 10.9 USD, closing at 3,353.9 USD/ounce.

The decline in gold prices is seen as a result of normal profit-taking by short-term futures traders. Meanwhile, the value of the US dollar surged, adding pressure to gold prices today.

Risk sentiment in global markets has been dampened by the Trump administration’s tough stance on tariffs. The US government recently sent notices to its trading partners, threatening to impose import tariffs of 20% to 30%. The European Union (EU) has been notified of a potential 30% tariff, while Mexico and Canada face 30% and 35% tariffs, respectively. These trade tensions have weighed on investor sentiment and the gold market.

Economic data and gold demand

There was no major U.S. economic data released yesterday. However, the market is focusing on the June consumer price index (CPI) report, due today, with a forecast of a 2.7% year-on-year increase, up from 2.4% in May. This data could have a strong impact on expectations for the Federal Reserve's monetary policy, which in turn could impact gold prices.

Regarding gold demand, Mr. Juan Carlos Cavatoni, representative of the World Gold Council (WGC), said that central banks continue to be a major driving force, accounting for 20% - 25% of annual gold consumption in the past 3-4 years. A recent survey by the WGC of 73 central banks showed that 95% considered gold a core element in their reserves, 50% planned to increase their gold reserves in the next 12 months.

“Central banks are looking for stability and performance from their assets. Our upcoming Gold Demand Trends report will provide detailed data on gold purchases in Q2, and we expect demand to continue to grow strongly,” Cavatoni said.

With the pressure from a stronger US dollar and tough trade policies, gold prices may continue to be under pressure in the short term. However, analysts still believe that demand from central banks can support gold prices in the long term, especially when important economic data is released.

In the Vietnamese market, by the end of July 14, the price of SJC gold was listed at 121.5 million VND/tael for sale, while the price of gold rings was at 117.5 million VND/tael.

Source: https://nld.com.vn/gia-vang-hom-nay-15-7-bat-ngo-giam-manh-19625071506350325.htm