Gold price today (July 16): Gold bars and gold rings turned down by 400,000 VND/tael in both directions, approaching 121 million VND/tael. World gold prices increased slightly but were still about 15.2 million VND/tael lower than domestic gold prices.
Domestic gold price today
The brands DOJI , SJC, PNJ, and Bao Tin Minh Chau simultaneously reduced the price of gold bars by 400,000 VND/tael, listing the price at 119.1 - 121.1 million VND/tael (buy - sell).
Phu Quy SJC's buying price is 700,000 VND/tael lower than other gold brands, listed at 118.4 million VND/tael for buying and 121.1 million VND/tael for selling (down 400,000 VND/tael).
Domestic gold bar prices updated at 5:00 a.m. July 16 as follows:
Yellow | Area | Early morning 15-7 | Early morning 16-7 | Difference | |||
Buy | Sell | Buy | Sell | Buy | Sell | ||
Unit of measure: Million VND/tael | Unit of measure: Thousand dong/tael | ||||||
DOJI | 119.5 | 121.5 | 119.1 | 121.1 | -400 | -400 | |
Ho Chi Minh City | 119.5 | 121.5 | 119.1 | 121.1 | -400 | -400 | |
SJC | Ho Chi Minh City | 119.5 | 121.5 | 119.1 | 121.1 | -400 | -400 |
Hanoi | 119.5 | 121.5 | 119.1 | 121.1 | -400 | -400 | |
Danang | 119.5 | 121.5 | 119.1 | 121.1 | -400 | -400 | |
PNJ | Ho Chi Minh City | 119.5 | 121.5 | 119.1 | 121.1 | -400 | -400 |
Hanoi | 119.5 | 121.5 | 119.1 | 121.1 | -400 | -400 | |
Bao Tin Minh Chau | Nationwide | 119.5 | 121.5 | 119.1 | 121.1 | -400 | -400 |
Phu Quy SJC | Nationwide | 118.8 | 121.5 | 118.4 | 121.1 | -400 | -400 |
 |
Gold price today (July 16): "Evaporated" 400,000 VND/tael. Illustration photo: congthuong.vn |
Similar to gold bars, the price of gold rings today also turned down, listed at the highest price of 118.8 million VND/tael for sale.
Specifically, SJC listed the price of 9999 gold rings at 114.6 - 117.1 million VND/tael (buy - sell), down 400,000 VND/tael in both directions.
DOJI traded gold rings at 115.6 - 118.6 million VND/tael, down 400,000 VND/tael in both directions.
PNJ traded gold rings at 115.2 - 118.2 million VND/tael, stable in both directions.
Phu Quy listed the price of gold rings at 115 - 118 million VND/tael, down 300,000 VND/tael in both directions.
Bao Tin Minh Chau brand gold rings also decreased in price by 400,000 VND/tael each way, listed at 115.8 - 118.8 million VND/tael (buy - sell).
World gold price today
On the world gold market, today's spot gold price is listed around 3,327 USD/ounce (equivalent to nearly 105.9 million VND/tael converted according to Vietcombank exchange rate, excluding taxes and fees).
World gold prices generally increased by 0.09% in the past 24 hours but decreased by 3.5% in the past 30 days.
Currently, world gold is about 15.2 million VND/tael lower than domestic gold price.
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| Illustration: Arttimes |
Although the world gold price increased slightly today, it basically remained almost the same as the attention focused on trade negotiations and positive economic data from the US just released showed no concerns about inflation. Meanwhile, the US dollar hit a nearly three-week high, making gold priced in this currency more expensive for holders of other currencies.
Although gold is still above $3,300 an ounce, experts say it still needs a "push" to surpass the peak of $3,400 last April. In the current context, the possibility of the US Federal Reserve (FED) cutting interest rates is considered the "key" for gold prices to break out. Although the possibility of a rate cut in July has been completely eliminated from the market, investors are still betting on a FED rate cut in September, despite higher inflation data.
While gold futures have shown signs of cooling, demand from central banks has remained steady, with net purchases recorded every month through May.
Ewa Manthey, Commodity Market Strategist at ING, a Dutch multinational banking and financial services firm, cited the latest data from the World Gold Council (WGC) showing that central banks added 20 tonnes of gold to global reserves in May - a slight increase from the previous month, although still below the 12-month average of 27 tonnes. The National Bank of Kazakhstan led the buying in May with 7 tonnes, followed by Türkiye and Poland - each buying 6 tonnes. Meanwhile, the Monetary Authority of Singapore (MAS) sold about 5 tonnes of gold in the same period.
MR. PHUONG
* Please visit the Economics section to see related news and articles.
Source: https://baolamdong.vn/gia-vang-hom-nay-16-7-moi-luong-vang-boc-hoi-400-000-dong-382435.html
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