Gold prices have stalled amid uncertainty fueled by new trade measures announced by US President Donald Trump, who has confirmed a 50% tariff on copper imports and warned more than 150 countries of impending tariff adjustments.
These decisions raised concerns about global economic imbalances, which continued to favor gold as a safe haven, without creating a clear price rally.
Despite dovish comments from Federal Reserve Governor Chris Waller, markets appear to be wary of a rapid series of rate cuts. Recent U.S. economic data has reinforced that caution. Retail sales rose 0.6% in June, a surprise gain after two straight months of declines. Meanwhile, jobless claims fell for a fifth straight week, to a three-month low of 221,000.
Gold prices are currently supported by a weak US dollar and persistent geopolitical and economic uncertainty, boosting demand for the precious metal.
Gold price movements today
+ Domestic gold price
At 6:00 a.m. on July 18, the price of gold bars at Doji and SJC was listed at 119.5 - 121 million VND/tael (buy - sell), unchanged from early this morning.
Meanwhile, the price of gold rings is currently listed by Doji at 115.9 - 118.4 million VND/tael (buy - sell), unchanged.
+ International gold price
The world gold price listed on Kitco is at 3,345 USD/ounce, down 2 USD/ounce compared to late yesterday afternoon. Gold futures last traded at 3,346 USD/ounce.
Gold Price Forecast
Commenting on the gold price movement next week, UBS commodities analyst Giovanni Staunovo said that investors are still concerned about the independence of the Fed. Currently, that risk has decreased and US economic data remains solid, limiting the rise of gold. However, Mr. Trump wants the Fed to cut interest rates aggressively... this is helping the market maintain its price base.
" Gold is often seen as a safe haven asset during times of uncertainty and performs well in a low interest rate environment ," Giovanni Staunovo stressed.
Meanwhile, Adrian Ash, research director at BullionVault, said that although gold may face difficulties in the short term without any specific policy shock, the long-term uptrend remains solid thanks to central bank purchases and more and more real money flows into buying physical gold.
The latest Kitco News weekly gold survey shows that experts remain cautious on gold's near-term outlook, while retail investors are back on the bullish side.
Of the 15 analysts surveyed, 8 (53%) predicted that gold prices would increase next week, only 1 (7%) said prices would decrease, and the remaining 6 (40%) said the market would move sideways.
In contrast, an online survey of 223 individual investors found a strong bias towards higher gold prices. Specifically, 138 people (62%) expected prices to rise, while 38 people (17%) predicted prices to fall and 47 people (21%) thought prices would remain flat.
Source: https://baolangson.vn/gia-vang-hom-nay-21-7-usd-suy-yeu-vang-van-khong-the-khoi-sac-5053731.html
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