The precious metals market ended a volatile week as both gold and silver failed to break through key resistance levels. Gold continued to slide below $3,400 an ounce, while silver failed to reach $40 an ounce, a 14-year high.

Gold prices are struggling as investors turn their attention to stocks, which are at record valuations. At the same time, trade war concerns are starting to subside, reducing the appeal of gold as a safe haven.

Selling pressure on gold came after news that the Trump administration and the Japanese government were close to reaching a trade deal that would impose a 15% tariff on imports from Japan. That news, along with speculation about the possibility of a similar deal with the European Union, dented the appeal of gold as a safe haven.

Uncertainty surrounding the trade war has been the biggest driver of gold investment demand, so any clear signs of a resolution to the tensions will have a direct impact on demand. In addition, analysts say gold prices are too high, limiting market demand.

w vang tphcm nguyen hue 4 85369.jpeg
Domestic gold prices have dropped sharply. Photo: Chi Hieu

According to the China Gold Association (CGA), the country's gold consumption fell 3.54% in the first half of the year, mainly due to high prices reducing demand for jewelry and physical gold.

However, investment demand for gold remains high. The value of Chinese gold ETFs increased by $8.8 billion in the first six months of the year, according to the WGC.

Spot gold traded at $3,328.40 an ounce, down more than 1% on the final day of the week. For the week, the precious metal lost 0.62% of its value. Spot silver was last trading at $38.05 an ounce, down 2% on the day.

Domestic gold market on July 26, SJC gold bar price listed at 119.6-121.1 million VND/tael (buy - sell), down 600,000 VND/tael for selling compared to the previous trading session.

The price of 1-5 chi SJC gold rings closed at 114.5-117 million VND/tael (buy - sell), 9999 gold rings at Doji closed at 116-118.5 million VND/tael, both down 500,000 VND/tael compared to the previous day.

Compared to the closing price at the end of last week, the price of SJC gold bars decreased by 100,000 VND/tael in both buying and selling directions.

Gold Price Forecast

Trade war fears are starting to subside, with investors shifting their appetite for gold as a safe haven, said Phillip Streible, chief market strategist at Blue Line Futures. Investors are distracted by earnings reports and potential trade deals.

Streible said gold prices could continue to fall next week as the Federal Reserve is expected to keep interest rates unchanged at its upcoming monetary policy meeting. He pointed out that the central bank’s neutral policy stance could support the strength of the US dollar in the short term.

However, gold could find some support later next week if U.S. labor market data is weaker than expected. Any weakness in the labor market that supports the Fed in cutting interest rates is good for gold.

Commodity analysts predict that while higher prices will continue to weigh on physical gold demand, economic uncertainty will support investment demand, potentially pushing gold back to record highs later this year.

Source: https://vietnamnet.vn/gia-vang-hom-nay-27-7-2025-lao-doc-vang-sjc-giam-hon-nua-trieu-dong-luong-2426018.html