Gold price today July 28: Decreased due to investors 'distracted' to stocks

The buying and selling prices of SJC gold bars have shortened, with some units only paying 1 - 1.5 million VND per tael, the lowest level in many years. Although the risk level has decreased, the domestic market is still gloomy.

Saigon Jewelry Company - SJC did not change the price of SJC gold bars, buying at 119.6 million VND, selling at 121.1 million VND. Mi Hong Company reduced the gold buying price by 200,000 VND per tael, down to 120.1 million VND, selling at 121.1 million VND. Phu Quy Company bought at 118.8 million VND, selling at 121.1 million VND... The difference between the buying and selling price of gold bars is from 1 - 2.3 million VND/tael.

Similarly, the price of gold rings also remained unchanged compared to last weekend, SJC Company bought 114.5 million VND, sold 117.1 million VND; Phu Quy Company bought 115.1 million VND, sold 118.1 million VND...

The buying price of SJC gold bars is 1 - 1.5 million VND/tael lower than the selling price. PHOTO: NGOC THANG

Gold prices fell slightly by $ 1.50 to $3,335 an ounce. Phillip Streible, chief market strategist at Blue Line Futures, said gold was struggling as investors turned their attention to stocks. Gold prices were also under pressure after the United States and Japan announced a potential trade deal that would impose a 15 percent tariff on Japanese imports into the United States last week. The deal is also being seen as a blueprint for negotiations with the European Union.

As trade war fears begin to subside, the market is seeing a shift in safe-haven demand for gold. Instead of seeking protection, investors are now distracted by strong earnings reports and potential trade deals.

Streible noted that gold prices could continue to decline this week, as the Federal Reserve is expected to keep interest rates unchanged after its monetary policy meeting. The central bank’s neutral policy stance could support the strength of the US dollar in the short term.

However, gold prices could find support later next week if US labor market data is weaker than expected, which could prompt the Fed to cut interest rates and would benefit gold./.

According to Thanh Nien Newspaper

Source: https://thanhnien.vn/gia-vang-hom-nay-2872025-giam-do-nha-dau-tu-phan-tam-sang-chung-khoan-185250728084137741.htm

Source: https://baolongan.vn/gia-vang-hom-nay-28-7-giam-do-nha-dau-tu-phan-tam-sang-chung-khoan-a199630.html