Gold price today July 16: Domestic and world prices both decrease

Domestic gold price today

As of 4:30 a.m., the price of SJC gold bars was listed by Saigon Jewelry Company at 119.1-121.1 million VND/tael (buy - sell); down 400,000 VND/tael in both directions. The difference between buying and selling prices is at 2 million VND/tael.

DOJI Group listed at 119.1-121.1 million VND/tael (buy - sell); down 400,000 VND/tael in both directions. The difference between buying and selling prices is at 2 million VND/tael.

Meanwhile, Bao Tin Minh Chau listed the price of SJC gold bars at 119.1-121.1 million VND/tael (buy - sell); down 400,000 VND/tael in both directions. The difference between the buy and sell prices is at 2 million VND/tael.

Phu Quy Gold and Gemstone Group listed the price of SJC gold bars at 118.4-121.1 million VND/tael (buy - sell); down 400,000 VND/tael in both directions. The difference between the buy and sell prices is at 2.7 million VND/tael.

Price of round gold ring 9999

As of 4:30 a.m., DOJI Group listed the price of gold rings at 115.6-118.4 million VND/tael (buy - sell), down 400,000 VND/tael in both directions. The difference between buying and selling is 3 million VND/tael.

Bao Tin Minh Chau listed the price of gold rings at 115.8-118.8 million VND/tael (buy - sell), down 400,000 VND/tael in both directions. The difference between buying and selling is 3 million VND/tael.

Phu Quy Gold and Gemstone Group listed the price of gold rings at 115-118 million VND/tael (buy - sell), down 300,000 VND/tael in both directions. The difference between buying and selling is 3 million VND/tael.

World gold price today

At 4:30 a.m., the world gold price listed on Kitco was around 3,341.50 USD/ounce, down 0.60 USD/ounce.

The global gold market is facing difficulties in maintaining its upward momentum as inflationary pressures in the US remain high. This may cause the US Federal Reserve (Fed) to continue to maintain a neutral monetary policy stance, weakening expectations of an early interest rate cut, a factor that has supported gold prices.

According to a report released on July 15, the consumer price index (CPI) in the US increased by 0.3% in June, after increasing by 0.1% in May. This increase was in line with analysts' expectations.

However, compared to the same period last year, the CPI reached 2.7%, higher than the 2.4% in May and exceeding the forecast of 2.6%. This is a sign that overall inflationary pressures have not completely cooled down.

Meanwhile, the core CPI, which excludes food and energy prices, rose 0.2% in June, below the forecast of 0.3%. However, compared to the same period last year, the core CPI reached 2.9%, slightly higher than May (2.8%) and slightly lower than the expectation of 3.0%.

Spot gold was trading at around $3,348 an ounce shortly after the data was released, up 0.18% on the day. However, the market remained cautious. Experts said gold needed a big push to break above $3,400 and retest its April peak.

Interest rates continue to be a key factor for gold. Although the possibility of a Fed rate cut in July has been largely ruled out, the market is still betting on a September adjustment despite higher-than-expected inflation data.

Expert Aaron Hill from FP Market commented that this CPI report is quite difficult to interpret when inflation is still rising but the pace is slowing. He said that it is almost certain that the Fed will not adjust interest rates at the meeting at the end of this month, with the probability of keeping interest rates unchanged up to 95%.

Source: https://baohatinh.vn/gia-vang-hom-nay-167-trong-nuoc-the-gioi-cung-giam-post291812.html