Gold price on July 24: Gold bars and gold rings dropped sharply by millions of dong per tael

In today's trading session, gold price Domestic gold bars and rings have fallen sharply. Meanwhile, the price of gold on the international market has also lost its peak of 3,400 USD.

Specifically, at 11:00 a.m. on July 24, Saigon Jewelry Company (SJC) listed the buying and selling price of SJC gold bars at 120-122 million VND/tael, down 700,000 VND/tael for both buying and selling compared to the previous session. The difference between buying and selling was 2 million VND.

Gold price statistics of Dragon Viet Online Service Joint Stock Company VDOS - Updated at 11:00 on July 24.

The price of SJC 9999 gold ring is 115 million VND/tael for buying and 117.5 million VND/tael for selling, down 500 thousand VND per tael for both buying and selling.

Meanwhile, DOJI gold bar price in Hanoi and Ho Chi Minh City was bought at 120 million VND/tael and sold at 122 million VND/tael, down 700 thousand VND per tael in both directions (buying-selling) compared to the previous session's close.

This brand listed the price of Doji Hung Thinh Vuong 9999 gold ring at 116.5-119 million VND/tael (buy-sell), down 500 thousand VND/tael in both buying and selling compared to yesterday.

PNJ Gold listed the buying price at 116 million VND/tael and the selling price at 118.8 million VND/tael, down 600 thousand VND/tael for buying and 400 thousand VND/tael for selling compared to the previous session.

As of 11:00 a.m. on July 24 (Vietnam time), the world gold price decreased by 50.1 USD/ounce compared to the previous session's close to 3,380.3 USD/ounce.

The main reason for this price drop is strong profit-taking pressure from investors after a series of consecutive price increases.

World gold price chart on July 24. (Photo: kitco.com)

In addition, the decline in gold prices also occurred in the context of the market receiving positive information from the trade agreement between the US and Japan.

US President Donald Trump has reached a trade deal with Japan that would reduce tariffs on auto imports, and the European Union and the US are also nearing a similar trade deal that would impose a 15% tariff on European imports but exempt some goods from tariffs.

These major trade deals on tariffs have pushed money into stocks, putting safe-haven assets like gold under pressure.

In addition to the trade deal, the U.S. dollar index rose slightly, adding pressure to gold, which is priced in dollars. When the dollar strengthens, gold becomes more expensive for investors using other currencies.

Today, the USD-Index was at 97.12 points; the yield on 10-year US Treasury bonds increased to 4.394%; US stocks rose sharply, setting new record highs; world oil prices increased, trading at 68.82 USD/barrel for Brent oil and 65.48 USD/barrel for WTI oil.

Source: https://baoquangninh.vn/gia-vang-ngay-24-7-vang-mieng-vang-nhan-giam-manh-ca-trieu-dong-moi-luong-3368270.html