Domestic gold price today 7/30/2024

Domestic gold ring prices early this morning were slightly adjusted down by brands.

Specifically, Saigon Jewelry Company (SJC) listed the price of gold rings of type 1-5 at only 75.55-77 million VND/tael (buy - sell), down 50 thousand VND per tael in both buying and selling compared to the closing price of yesterday's trading session.

Doji Gold and Gemstone Group lowered the price of 9999 round smooth gold rings to 75.75-77 million VND/tael (buy - sell), down 100 thousand VND/tael in both buying and selling compared to yesterday's closing price.

Early morning of July 30 , SJC 9999 gold price decreased by 500 thousand VND/tael in both buying and selling compared to the end of yesterday's trading session, to 79 million VND/tael (selling).

The price of 9999 gold was updated by Saigon Jewelry Company Limited (SJC) at 8:26 a.m. and the price of 9999 gold was listed by Doji Jewelry Group at 8:36 a.m. as follows:

Buy Sell
SJC HCMC 77,000,000 VND/tael 79,000,000 VND/tael
Doji Hanoi 77,000,000 VND/tael 79,000,000 VND/tael
Doji HCMC 77,000,000 VND/tael 79,000,000 VND/tael

SJC and Doji gold price list updated early morning July 30

At the close of the session on July 29, the price of 9999 gold bars at SJC was 77.5 million VND/tael (buy) and 79.5 million VND/tael (sell). SJC listed the price of gold rings at 75.6 - 77.05 million VND/tael (buy - sell).

Doji Hanoi listed at 77.5 million VND/tael (buy) and 79.5 million VND/tael (sell). Doji Ho Chi Minh City bought SJC gold at 77.5 million VND/tael and sold at 79.5 million VND/tael.

Bao Tin Minh Chau listed the price of Golden Dragon gold bars at 75.88-77.08 million VND/tael (buy - sell).

The central exchange rate on July 30, 2024 announced by the State Bank is 24,257 VND/USD, an increase of 5 VND compared to the previous trading session. The USD price at commercial banks this morning (July 30) was commonly listed at 25,090 VND/USD (buy) and 25,460 VND/USD (sell).

International gold price today 7/30/2024

At 8:28 a.m. today (July 30, Vietnam time) , the world spot gold price stood at around 2,378.5 USD/ounce, down 13.7 USD/ounce compared to last night. The price of gold futures for December 2024 on the Comex New York floor was at 2,425.3 USD/ounce.

On the morning of July 30 , the world gold price converted to USD bank price was over 73 million VND/tael, including tax and fees, about 6 million VND/tael lower than the domestic gold price.

Gold price on Kitco floor at 9:00 p.m. (July 29, Vietnam time) was trading at 2,392.2 USD/ounce, up 0.22% compared to the beginning of the session. Gold futures price for December 2024 delivery on Comex New York floor was trading at 2,393.5 USD/ounce.

gold price.jpg
World gold prices recover. Photo: Kitco

At the beginning of the trading session on July 29 (US time), the world gold price continued to recover after a sharp decline last week. As many experts have said, the drop in gold prices is an opportunity for investors to buy, causing gold to quickly turn around and go up.

Experts predict that gold prices will be further boosted in the coming time by the US Federal Reserve's (Fed) moves to loosen monetary policy at the end of the third quarter, which are increasingly revealed by this agency.

According to the report, the US GDP in the second quarter exceeded experts' expectations with an increase of 2.8%. This figure is much higher than the 2% forecast by economists, showing the resilience of the economy despite interest rates remaining at a 23-year high.

The encouraging reports boosted expectations for the Fed’s next move. The odds of a rate cut at next week’s policy meeting remain low at 4.7%, but market sentiment has shifted significantly toward the September meeting.

Gold Price Forecast

According to the CME FedWatch tool, the possibility of the US Central Bank easing monetary policy at its September meeting is 100%, with a possibility of a 25 percentage point reduction.

China will soon resume buying, after announcing a two-month pause in gold additions, said Sean Lusk, director of commercial hedging at Walsh Trading.

The precious metal needs to hold the range of $2,340-2,350/ounce or it will fall further. He said that if gold falls, it will be a buying opportunity and prices will quickly be pushed higher.