Gold prices today (July 28) fluctuated little in both domestic and international markets.
At the end of the trading session on July 28, the price of gold bars at SJC was listed at 119.6-121.1 million VND/tael (buy - sell), unchanged compared to the end of the trading session last weekend.
The price of SJC 1-5 chi gold rings closed at 114.5-117 million VND/tael (buy - sell), unchanged from the closing price of last weekend's trading session.
The price of 9999 gold rings at Doji closed at 116-118.5 million VND/tael, equal to the closing price of last week.
Spot gold closed the week at $3,336 an ounce. Gold futures for August 2025 delivery on the Comex New York floor traded at $3,342 an ounce.
Gold ended a volatile week as it failed to break through key psychological levels. According to experts, potential trade deals between the US and Japan (and possibly the EU) are easing trade war concerns, reducing safe-haven demand for gold.
Christian Magoon, CEO of Amplify ETFs - the manager of the Junior Silver Miners Gold Exchange-Traded Fund (SILJ), said that successful US trade deals could bring stability to the manufacturing sector, thereby boosting industrial demand.
Mr Magoon pointed out that when trade barriers are removed or reduced, manufacturing activity tends to increase. This directly increases demand for industrial metals, especially silver - which has wide applications in many industries such as electronics, solar energy and automobiles.
This in turn provides a solid support base for silver and related metals prices, adding to the price drivers from investment demand and central bank reserves.
Darin Newsom, an analyst at Barchart, commented that world gold prices will likely maintain a sideways trend as there is no strong enough factor to create a clear upward or downward momentum.
According to Newsom, the core factor that has supported gold’s strength is that its role as a safe haven amid global uncertainty has not changed. Despite short-term fluctuations, gold’s status as a safe haven amid geopolitical and global economic uncertainty remains a key support for the precious metal.
This week, markets will receive a series of important economic news such as data on growth, inflation and employment, along with three important interest rate decisions (Bank of Canada, Federal Reserve and Bank of Japan).
Domestic gold market on July 27, SJC gold bar price listed at 119.6-121.1 million VND/tael (buy - sell). SJC gold ring price of 1-5 chi closed the session at 114.5-117 million VND/tael (buy - sell). Doji 9999 gold ring price closed at 116-118.5 million VND/tael.
Gold Price Forecast
Kitco News survey shows that only 14% of experts predict gold will increase next week, 36% predict it will decrease and 50% predict it will be flat.
Gold's failure to break through key resistance levels opens the door to further declines, analyzed Marc Chandler, CEO at Bannockburn Global Forex.
Gold prices ended the week at a new low. The precious metal briefly pared gains in midweek, near $3,439, but remained below its June high of $3,451.
Chandler predicts that after breaking the $3,321.50 level, gold will head to the next target of $3,309, and a drop below $3,300 could trigger a downtrend towards $3,250. Gold is at a technically sensitive point, which could see strong volatility if key support levels are broken.
Gold prices continue to enjoy strong fundamental support, creating attractive buying opportunities, according to Aakash Doshi, Head of Global Gold Strategy at State Street Global Advisors.
Despite the stock market turmoil, gold is less than 5% below its all-time high in April, demonstrating that it remains an important monetary asset.
Looking ahead, Doshi remains bullish on gold in August despite next week’s Federal Reserve meeting. He expects the Fed to shift away from its current neutral stance at its annual Jackson Hole symposium in Wyoming. A change in Fed policy could provide further impetus to gold prices.
Source: https://vietnamnet.vn/gia-vang-hom-nay-28-7-2025-vang-sjc-dieu-chinh-manh-2426235.html
Comment (0)