On the morning of July 26, the world gold price continued to decrease by 34 USD, down to 3,336 USD/ounce. Domestically, gold bars at Saigon Jewelry Company - SJC decreased by 100,000 VND in buying price, down to 119.6 million VND, but decreased by 600,000 VND in selling price, down to 121.1 million VND. The difference between buying and selling price accordingly decreased to 1.5 million VND/tael instead of 2 million VND as yesterday.
The price of 4-number-9 gold rings at SJC decreased by 500,000 VND, buying at 114.5 million VND, selling at 117 million VND; Phu Nhuan Jewelry Company (PNJ) bought at 116 million VND, selling at 118.8 million VND...
Gold price continued to decrease on the morning of July 26. PHOTO: NGOC THANG
World gold prices have continued to decline for three consecutive sessions due to the strengthening of the USD and positive developments in tariff negotiations between the US and many countries. At the same time, yesterday, President Donald Trump expressed confidence that the US Federal Reserve (Fed) will begin to lower interest rates. According to CNBC, this comment appeared one day after Mr. Trump's meeting with Fed Chairman Jerome Powell. The US President said that the meeting was positive and he believed that the US central bank was ready to loosen monetary policy. However, Mr. Jerome Powell and his colleagues are still hesitant to cut interest rates because they have to wait and see the impact of tariff policies on inflation. In fact, the Fed Chairman has emphasized that this agency does not need to act because the US economy is strong enough to withstand the current high interest rates.
Meanwhile, the Governing Council of the European Central Bank (ECB) announced on July 24 that it would keep interest rates unchanged at 2%, after cutting them eight times in the past year. The ECB said that inflation has now returned to its 2% target and is stable, but warned that the global economic environment remains uncertain due to trade tensions. EU diplomats said that the US and the EU are moving towards an agreement that would lead to a 15% tariff on EU imports to the US. The ECB warned that higher US tariffs would lead to lower growth in the Eurozone.../.
According to Thanh Nien Newspaper
Source: https://thanhnien.vn/gia-vang-hom-nay-2672025-boc-hoi-hon-nua-trieu-dong-sau-mot-dem-185250726072510388.htm
Source: https://baolongan.vn/gia-vang-hom-nay-26-7-boc-hoi-hon-nua-trieu-dong-sau-mot-dem-a199522.html
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