In the domestic market, at the beginning of this morning's trading session, gold prices of all brands decreased in line with world prices. SJC gold bar price was traded at 120.6 million VND/tael.
People and investors are also waiting for information related to the new gold management and trading policy. Currently, the domestic gold bar price is about 15 million VND/tael higher than the world price.
Specifically, at 10:00 a.m. on July 16, Saigon Jewelry Company (SJC) listed the buying and selling price of SJC gold bars at 118.6-120.6 million VND/tael, down 500,000 VND compared to yesterday's closing price. The difference between buying and selling is 2 million VND/tael.
SJC 9999 gold ring price is 114.2 million VND/tael for buying and 116.7 million VND/tael for selling, down 400,000 compared to the previous session.
DOJI gold bar price in Hanoi and Ho Chi Minh City is trading at 118.6 million VND/tael for buying and 120.6 million VND/tael for selling, down 500,000 VND compared to the previous session.
This brand listed the buying and selling price of Doji Hung Thinh Vuong 9999 gold ring at 115.1-118.1 million VND/tael. The buying and selling difference is 3 million VND/tael.
PNJ Gold is currently buying at 114.7 million VND/tael and selling at 117.6 million VND/tael, down 500,000 VND and 600,000 VND respectively compared to the previous session.
As of 10:00 a.m. on July 16 (Vietnam time), gold price World prices fell 15.4 USD compared to the previous session's close to 3,326.7 USD/ounce.
World gold prices continued to fall this morning amid a recovery in the USD and investors rushing to sell to take short-term profits as last night gold rose to $3,367/ounce.
Gold needs a new catalyst to break above current levels, according to experts. Ewa Manthey, commodity strategist at ING, noted that the gold price rally has stalled since hitting a record high above $3,500 an ounce in April.
“However, prices are still up about 28% this year. Trade wars, geopolitical risks and continued central bank buying are the main drivers of the precious metal’s rally,” said Manthey.
According to the female expert, at present, although this precious metal is facing obstacles to break out, the net buying activities of central banks are still maintained and the momentum for price increases remains.
Canadian Imperial Bank of Commerce (CIBC) also predicts that although gold prices are currently in a sideways state, there is a high possibility of a second price increase in the second half of this year.
Analysts at CIBC said they expect gold prices to average around $3,339 this year, up more than 19% from their December forecast.
According to CIBC, the peak of gold prices this year could be in the range of 3,700-3,800/ounce and accumulation periods are likely to fall around 3,000-3,175 USD/ounce.
This morning, the USD-Index increased to 98.60 points; the yield on 10-year US Treasury bonds was at 4.478%; US stocks fell due to inflationary pressure; world oil prices fell, trading at 68.86 USD/barrel for Brent oil and 66.81 USD/barrel for WTI oil.
Source: https://baoquangninh.vn/gia-vang-ngay-16-7-vang-mieng-vang-nhan-dong-loat-giam-3366992.html
![[Maritime News] More than 80% of global container shipping capacity is in the hands of MSC and major shipping alliances](https://vphoto.vietnam.vn/thumb/402x226/vietnam/resource/IMAGE/2025/7/16/6b4d586c984b4cbf8c5680352b9eaeb0)
Comment (0)