Gold price today July 20: Investors are cautious before the FED's move

Domestic gold price today

As of 4:30 a.m., the price of SJC gold bars was listed by Saigon Jewelry Company at 119.5-121 million VND/tael (buy - sell); unchanged. The difference between the buy and sell prices was at 1.5 million VND/tael.

DOJI Group listed at 119.5-121 million VND/tael (buy - sell); unchanged. The difference between buy and sell prices is 1.5 million VND/tael.

Meanwhile, Bao Tin Minh Chau listed the price of SJC gold bars at 119.5-121 million VND/tael (buy - sell); unchanged. The difference between the buy and sell prices is at 1.5 million VND/tael.

Phu Quy Gold and Gemstone Group listed the price of SJC gold bars at 118.7-121 million VND/tael (buy - sell); increased by 300,000 VND/tael for buying and kept the same for selling. The difference between buying and selling prices is at 2.3 million VND/tael.

As of 4:30 a.m., DOJI Group listed the price of 9999 gold rings at 115.9-118.4 million VND/tael (buy - sell), unchanged in both directions. The difference between buying and selling is 2.5 million VND/tael.

Bao Tin Minh Chau listed the price of gold rings at 116.1-119.1 million VND/tael (buy - sell), unchanged 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 114.8-117.8 million VND/tael (buy - sell), unchanged in both directions. The difference between buying and selling is 3 million VND/tael.

World gold price

At 4:30 a.m., the world gold price listed on Kitco was around 3,347.90 USD/ounce, up 9.60 USD/ounce.

Gold prices are still in a tug-of-war situation due to the lack of strong enough driving factors, in the context of the US dollar maintaining its strength and the Fed's monetary policy remaining unchanged. Although gold still maintains an important support level, short-term profit-taking and a wait-and-see attitude from investors have limited the upside momentum.

The continued strength of the US dollar is a major obstacle for gold, as investors tend to prioritize income-producing assets such as the US dollar over gold. As the FED has not yet made a move to lower interest rates, the US dollar still holds the upper hand, while gold is unlikely to escape its sideways state. In addition, the US economy is still showing positive signs, not weak enough to force the FED to change its policy.

Some investors are hoping for a surprise scenario like Mr. Trump returning and replacing the FED Chairman, which could open up the possibility of easing monetary policy. However, this is unlikely to happen in the short term due to institutional constraints. Currently, the gold market is still waiting for a big enough change to create a new turning point.

Source: https://baohatinh.vn/gia-vang-hom-nay-207-gioi-dau-tu-de-chung-truoc-dong-thai-cua-fed-post292061.html