Gold price today, July 30: Bouncing back

(NLDO) – After a series of declines, today's gold price reversed and increased thanks to the rising momentum of crude oil prices and the decrease in US bond interest rates.

Gold price goes up today

As of 6 a.m. on July 30 (Vietnam time), the spot gold price on the international market reached 3,330 USD/ounce, up 20 USD compared to the lowest level of 3,310 USD/ounce recorded in the trading session last night. The price of gold for August delivery also increased by 13 USD, closing at 3,323 USD/ounce.

Gold prices today heat up thanks to crude oil

Gold prices rose today, boosted by a rebound in crude oil prices and a drop in 10-year bond yields to 4.35%. In addition, the US dollar index rose to a five-week high, but was not enough to curb the precious metal's rise.

The US Federal Reserve's monetary policy meeting, which will end in the early morning of August 1, is attracting the attention of investors. The market predicts that the Fed will keep the basic interest rate unchanged during this meeting. However, after President Donald Trump's warning about lowering interest rates, many observers believe that Fed Chairman Jerome Powell may send a signal of easing monetary policy, creating favorable conditions for gold prices in the near future.

Gold price could explode to $4,000/ounce?

Gold prices have the potential to hit $4,000 an ounce by the end of 2026, thanks to the Fed cutting interest rates and central banks increasing their gold reserves, according to Fidelity International. Ian Samson, an expert at Fidelity, said gold will continue to be an attractive asset amid rising budget deficits and a weakening US dollar.

In Vietnam, at the end of July 29, SJC gold was sold at 121.2 million VND/tael, while ring gold was at 116.9 million VND/tael.

Source: https://nld.com.vn/gia-vang-hom-nay-30-7-bat-tang-tro-lai-196250730062847944.htm