Gold price today July 26: World gold price drops sharply, domestic SJC price remains unchanged

Domestic gold price

World gold prices continued to decline, domestic gold prices on the morning of July 25 remained at 121.7 million VND/tael. Specifically, at 10:30 a.m., Saigon Jewelry Company (SJC), DOJI Group listed gold bar prices at 119.7 - 121.7 million VND/tael (buy - sell).

Bao Tin Minh Chau Company listed the price of gold bars and gold rings at 116.7 - 119.7 million VND/tael (buy - sell).

Saigon Jewelry Company SJC listed the price of gold rings at 115-117.5 million VND/tael (buy - sell).

DOJI Group listed the price of gold rings at 116.5 - 119 million VND/tael (buy - sell).

World gold price

At 8:00 p.m. (July 25, Vietnam time), the spot gold price was trading at $3,336/ounce, down 0.73% from the beginning of the session. The gold futures price for August 2025 delivery on the Comex New York floor was trading at $3,342/ounce.

US President Donald Trump had a heated exchange with Federal Reserve Chairman Jerome Powell during a visit to the agency's headquarters, criticizing the cost of renovating two historic buildings at the Fed's headquarters and pushing for lower interest rates.

On US monetary policy, Mr. Trump continued to maintain a tough stance, emphasizing that interest rates must be lowered. However, Mr. Trump also expressed his unwillingness to fire Mr. Powell.

President Trump has repeatedly asked Mr. Powell to cut interest rates by 3 percentage points or more. The forecast is that interest rates will remain in the range of 4.25-4.5%, but the market is still speculating about the possibility of a rate cut in September 2025.

The US Dollar Index (DXY), which measures the greenback's movements against six major currencies (EUR, JPY, GBP, CAD, SEK, CHF), continued to rise during the trading session.

Nymex crude oil futures also saw a slight increase, trading around $66.25 a barrel. Meanwhile, the yield on 10-year US Treasury bonds is currently at 4.418%.

Gold Price Forecast

Kelvin Wong, senior market analyst at OANDA, said the main reason for the decline in gold and silver prices in early trading on Friday was profit-taking by short-term speculators.

The market witnessed this profit-taking move after the market saw optimism about the prospect of reaching a trade deal.

The Fed is expected to keep interest rates unchanged at its July 29-30 meeting. Gold prices are always sensitive to US interest rate adjustments. When US interest rates fall, the USD usually weakens. A weaker USD makes gold cheaper for investors holding other currencies, thereby significantly increasing the attractiveness of gold.

Furthermore, in the context of low interest rates, traditional investment channels such as savings or government bonds offer negligible returns. This encourages investors to look for alternatives to preserve and increase asset value.

Gold, as a non-yielding asset, has become a preferred choice due to its ability to hedge against inflation and act as a safe haven in times of economic uncertainty.

Source: https://baohatinh.vn/gia-vang-hom-nay-267-vang-the-gioi-giam-manh-sjc-trong-nuoc-dung-yen-post292503.html