Gold price today (July 29): World gold price has decreased by more than 22 USD/ounce in the past 24 hours and shows no signs of stopping, while domestic gold price continues to stand firm at a high level.
Domestic gold ring price today
The price of gold rings today (July 29) was kept the same by brands compared to yesterday morning, listed at the highest price of 119.2 million VND/tael for sale.
Specifically, SJC listed the price of gold rings at 114.5 - 117 million VND/tael (buy - sell), unchanged from yesterday morning.
DOJI traded gold rings at 116 - 118.5 million VND/tael, stable in both directions.
Bao Tin Minh Chau gold rings are also stable in both directions, currently trading at 116.2 - 119.2 million VND/tael (buy - sell).
PNJ traded gold rings at 116 - 119 million VND/tael, stable in both directions.
Phu Quy stabilized the price of gold rings in both directions, trading at 115.1 - 118.1 million VND/tael.
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Domestic gold price today (July 29) stands firmly at a high level. Photo: vietnamnet.vn |
Domestic gold bar price today
Domestic gold bar prices remained unchanged compared to yesterday morning. On the morning of July 29, DOJI, SJC, PNJ, and Bao Tin Minh Chau brand gold bars were bought at VND119.6 million/tael and sold at VND121.1 million/tael, unchanged compared to yesterday morning.
Particularly, Phu Quy SJC brand gold bars are being bought at a price 800,000 VND lower than other brands, listed at 118.8 million VND/tael for buying and 121.1 million VND/tael for selling, unchanged from yesterday morning.
Domestic gold bar prices updated on the morning of July 29 as follows:
Yellow | Area | Early morning 28-7 | Early morning 29-7 | Difference | |||
Buy | Sell | Buy | Sell | Buy | Sell | ||
Unit of measure: Million VND/tael | Unit of measure: Thousand dong/tael | ||||||
DOJI | 119.6 | 121.1 | 119.6 | 121.1 | - | - | |
Ho Chi Minh City | 119.6 | 119.6 | 121.1 | 119.6 | - | - | |
SJC | Ho Chi Minh City | 119.6 | 121.1 | 119.6 | 121.1 | - | - |
Hanoi | 119.6 | 121.1 | 119.6 | 121.1 | - | - | |
Danang | 119.6 | 121.1 | 119.6 | 121.1 | - | - | |
PNJ | Ho Chi Minh City | 119.6 | 121.1 | 119.6 | 121.1 | - | - |
Hanoi | 119.6 | 121.1 | 119.6 | 121.1 | - | - | |
Bao Tin Minh Chau | Nationwide | 119.6 | 121.1 | 119.6 | 121.1 | - | - |
Phu Quy SJC | Nationwide | 118.8 | 121.1 | 118.8 | 121.1 | - | - |
World gold price today
The world gold price continued to plummet today, with the spot gold price at 3,313.7 USD/ounce. The world gold price generally decreased by 0.67% in the past 24 hours, equivalent to a decrease of 22.3 USD/ounce.
With the domestic gold bar price stable and the world gold price listed at Kitco at 3,313.7 USD/ounce (equivalent to about 105.5 million VND/tael converted according to Vietcombank exchange rate, excluding taxes and fees), the difference between domestic and world gold prices is about 14.6 million VND/tael.
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| World gold prices today (July 29) continued their series of price declines. Illustrative photo |
Gold prices fell sharply and hit a two-week low near midday Monday, while silver prices traded mostly steady. Gold was pressured by a sharp rise in the dollar index and a slight rise in U.S. Treasury yields. The broader market risk appetite also weighed on the safe-haven precious metal. August gold prices last fell $27.50 to $3,307.90 an ounce.
The reason for the drop in gold prices was explained by Kitco experts that the US and the European Union (EU) agreed over the weekend on a trade deal that would see the EU impose a 15% tariff on most exports to the US, including cars, to avoid a trade war with Washington. The solid rise in the US dollar index and the sharp decline in the euro after the trade deal showed that the US had offered better terms to the EU.
Another factor that has weighed on gold prices is that the US and China are expected to extend their tariff truce for another three months, according to the South China Morning Post, ahead of trade talks between US Treasury Secretary Scott Bessent and Chinese Vice Premier He Lifeng in Stockholm, Sweden.
In addition, the price of crude oil futures on the Nymex floor increased and traded around 66.50 USD/barrel and the yield on 10-year US Treasury bonds is currently 4.412%, which is also the reason for the decrease in gold prices.
Technically, August gold futures bulls have the overall near-term technical advantage but are losing steam. The bulls’ next upside price objective is a close above solid resistance at the July high of $3,451.70 an ounce. The bears’ next near-term downside price objective is a break below solid technical support at the June low of $3,250.50 an ounce.
The Federal Open Market Committee (FOMC) meeting of the US Federal Reserve (Fed) is scheduled to begin on the morning of July 29 (Washington time) and end on the afternoon of July 30 with a statement and press conference from Fed Chairman Jerome Powell. Bloomberg reported that Fed officials "are determined to keep interest rates unchanged, although the increasingly heated debate could reinforce expectations for a rate cut in the fall". Mr. Powell is "under intense pressure" from US President Donald Trump to lower interest rates. However, the Fed is expected to keep the benchmark interest rate band unchanged this week.
THU UYEN
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Source: https://baolamdong.vn/gia-vang-hom-nay-29-7-vang-the-gioi-giam-sau-trong-nuoc-o-nguong-cao-384157.html
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