Domestic gold ring prices were adjusted up by brands early this morning.
Specifically, Saigon Jewelry Company (SJC) listed the price of gold rings of type 1-5 at only 75.55-77.05 million VND/tael (buy - sell), an increase of 50 thousand VND per tael in both buying and selling compared to the closing price of the trading session last weekend.
Doji Gold and Gemstone Group raised the price of 9999 round gold rings to 75.8-77.1 million VND/tael (buy - sell), an increase of 200,000 VND/tael for buying and an increase of 250,000 VND/tael for selling compared to the closing price last week.
Early morning of July 29 , SJC's 9999 gold price remained the same as the closing price of last weekend's trading session, at 79.5 million VND/tael (selling price).
The price of 9999 gold was updated by Saigon Jewelry Company Limited (SJC) at 8:28 a.m. and the price of 9999 gold was listed by Doji Jewelry Group at 8:46 a.m. as follows:
| Buy | Sell | |
| SJC HCMC | 77,500,000 VND/tael | 79,500,000 VND/tael |
| Doji Hanoi | 77,500,000 VND/tael | 79,500,000 VND/tael |
| Doji HCMC | 77,500,000 VND/tael | 79,500,000 VND/tael |
SJC and Doji gold price list updated early morning July 29
On July 27, the price of 9999 gold bars at Saigon Jewelry Company (SJC) was 77.5 million VND/tael (buy) and 79.5 million VND/tael (sell). Doji Jewelry Group listed it at 77.5 million VND/tael (buy) and 79.5 million VND/tael (sell).
The price of 1-5 chi gold rings at SJC is 75.5-77 million VND/tael (buy - sell), while Doji listed the price of 9999 smooth round gold rings at 75.8-77.05 million VND/tael.
The central exchange rate on July 29, 2024 announced by the State Bank is 24,252 VND/USD, an increase of 3 VND compared to the previous trading session. The USD price at commercial banks this morning (July 29) was commonly listed at 25,094 VND/USD (buy) and 25,464 VND/USD (sell).
At 8:28 a.m. today (July 29, Vietnam time), the world spot gold price stood at around 2,395.7 USD/ounce, up 27.7 USD/ounce compared to the end of last week. The price of gold futures for December 2024 on the Comex New York floor was at 2,442.8 USD/ounce.
On the morning of July 29 , the world gold price converted to USD bank price was over 73.5 million VND/tael, including tax and fees, about 6 million VND/tael lower than the domestic gold price.
Gold prices on the Kitco floor closed the trading week at $2,368/ounce. Gold futures for December 2024 traded at $2,385/ounce.
Economists said the latest inflation data did not stop the Federal Reserve from cutting interest rates for the first time this year. Market expectations are growing that the central bank will cut rates in September at its meeting in early August.
Analysts at TD Securities said the upcoming meeting will shed light on the setting of the easing cycle. While Fed leaders are unlikely to fully commit to a September rate cut, they will hint that the Fed is close to it.
Along with cooling inflation, economists predict that slowing growth in the labor market will prompt the Fed to ease interest rates before the end of the year. The CME FedWatch tool puts the probability of a September rate cut at 100%.
The Fed isn't the only central bank holding a monetary policy meeting this week. The Bank of England also announces its interest rate decision on Thursday. The Bank of Japan holds its monetary policy meeting later Tuesday.
Central bank actions in the coming months could have far-reaching implications for gold prices and financial markets in general.
The latest Kitco News weekly gold survey shows that experts continue to be bullish.
Kelvin Wong, senior market analyst at Oanda, said he sees gold's correction as a price move within a broader uptrend.
According to this expert, the Fed is still pursuing a stance that prioritizes a rate-cutting cycle over a rate-hiking cycle in the medium term. The 10-year Treasury yield is hovering below the important intermediate resistance level of 2.05%. The trend for gold remains bullish.
Source: https://vietnamnet.vn/gia-vang-hom-nay-29-7-2024-tang-thang-dung-keo-vang-nhan-dat-len-2306373.html
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