Domestic gold ring prices early this morning were adjusted down by brands following the trend of world gold prices.

Buy (VND/tael) Increase/decrease Sell (VND/tael) Increase/decrease
SJC 114,400,000 - 100,000 116,900,000 - 100,000
Doji 115,900,000 - 100,000 118,400,000 - 100,000

                                  SJC and Doji gold ring price list updated on the morning of July 29

Opening the trading session on July 29, the price of SJC 9999 gold decreased by 100,000 VND/tael in both buying and selling compared to the closing price of yesterday's trading session, down to 119.5-121 million VND/tael (buying - selling).

Buy (VND/tael) Increase/decrease Sell (VND/tael) Increase/decrease
SJC HCMC 119,500,000 - 100,000 121,000,000 - 100,000
Doji Hanoi 119,500,000 - 100,000 121,000,000 - 100,000
Doji HCMC 119,500,000 - 100,000 121,000,000 - 100,000

                     SJC and Doji gold bar price list updated on the morning of July 29

The world gold price continued to decline this morning. At 8:42 a.m. today (July 29, Vietnam time), the world spot gold price was at 3,316.7 USD/ounce, down 10.3 USD/ounce compared to last night.

On the morning of July 29 , the world gold price converted to USD bank price was nearly 106.5 million VND/tael, including tax and fees, about 14.5 million VND/tael lower than the domestic gold price.

At 8:00 p.m. (July 28, Vietnam time), the spot gold price was at $3,327/ounce, down 0.25% from the beginning of the session. The gold futures price for August 2025 delivery on the Comex New York floor traded at $3,329/ounce.

Financial markets are focused on the Federal Reserve's meeting on July 29-30. Fed officials are expected to remain determined to keep interest rates unchanged for a while longer. The Fed has kept its benchmark interest rate in a range of 4.25% to 4.5% this year.

US President Donald Trump has frequently criticized Fed Chairman Jerome Powell for being slow to lower interest rates. Trump has repeatedly asked Powell to lower interest rates to boost economic growth, arguing that the Fed is acting too slowly and at the wrong time.

In an April 2025 Truth Social post, Trump called for “rate cuts first” and criticized Powell for not acting like the European Central Bank (ECB).

Interest rate futures in the US financial market show investors are betting heavily on the possibility of a rate cut at the next meeting in September.

President Donald Trump has extended the deadline to August 1, when the US will impose higher tariffs on many trading partners unless deals are struck, a move that is expected to increase volatility in the stock market.

gold (60).jpg
Domestic gold prices fluctuate little. Photo: Chi Hieu

Top negotiators from the United States and China met in Stockholm to resolve long-standing economic differences at the heart of the trade war between the two countries.

President Trump has had success in pressuring several trading partners, including Japan, Indonesia and the Philippines, into agreeing to preliminary trade deals with tariffs higher than the baseline, ranging from 15% to 20%.

Domestic gold market on July 28, SJC gold bar price listed at 119.6-121.1 million VND/tael (buy - sell), unchanged compared to last weekend.

The price of 1-5 chi gold rings of SJC closed at 114.5-117 million VND/tael (buy - sell) and the price of 9999 gold rings at Doji closed at 116-118.5 million VND/tael, unchanged from the end of last week.

Gold Price Forecast

The trade deal has succeeded in easing concerns about economic conflict between the two powers, which typically puts downward pressure on gold, which is seen as a safe haven asset in times of uncertainty, said Jigar Trivedi, senior commodities analyst at Reliance Securities.

The U.S. dollar index (DXY), which measures the greenback’s strength against a basket of other major currencies, edged lower. A weaker dollar makes gold more attractive to buyers holding other currencies.

The gold market is not expected to have strong fluctuations in the coming time. Investors' attention is focused on important information from US monetary policy and economic data, expected to be announced this week.

The Fed's stance on monetary policy, along with upcoming important economic reports such as inflation data, employment, or GDP growth, will have a significant impact on the USD and bond yields, thereby directly affecting gold prices.

Mr. Peter Grant, an expert from precious metals trading company Zaner Metals, commented that according to technical analysis, gold prices are expected to find important support around $3,300/ounce.

According to Mr. Grant, the Fed's decision is a factor to be awaited. The Fed's moves on interest rates, monetary policy direction and the US economic outlook will directly impact the attractiveness of gold.

Source: https://vietnamnet.vn/gia-vang-hom-nay-29-7-2025-vang-mieng-sjc-cang-nhu-day-dan-2426517.html