Gold price on July 25: Domestic price remains stable, world price decreases

In the domestic market, this morning, the price of gold brands remained unchanged while the world price continued to decrease. The price of SJC gold bars is currently at 121.7 million VND/tael.

Gold price statistics of Dragon Viet Online Service Joint Stock Company VDOS - Updated at 10:30 a.m. on July 25.

Specifically, at 10:30 a.m. on July 25, Saigon Jewelry Company (SJC) listed the buying and selling price of SJC gold bars at 119.7-121.7 million VND/tael, unchanged from yesterday's closing price. The difference between buying and selling is 2 million VND/tael.

The price of SJC 9999 gold ring is 115 million VND/tael for buying and 117.5 million VND/tael for selling, unchanged from yesterday's closing price.

DOJI gold bar prices in Hanoi and Ho Chi Minh City were traded at 119.7 million VND/tael for buying and 121.7 million VND/tael for selling, unchanged from the previous session.

This brand listed the buying and selling price of Doji Hung Thinh Vuong 9999 gold ring at 116.5-119 million VND/tael. The buying and selling difference is 2.5 million VND/tael.

PNJ Gold is currently buying at 116 million VND/tael and selling at 118.8 million VND/tael, unchanged from the previous session.

As of 10:30 a.m. on July 25 (Vietnam time), world gold price down 25.1 USD from the previous close to 3,360.6 USD/ounce.

World gold prices continued to decline this morning due to profit-taking by investors after the price of this precious metal had strong increases exceeding 3,400 USD.

According to experts, gold prices are likely to continue to fall in the short term if investors do not stop taking profits to shift capital to other investment channels such as stocks when US stocks are trading at record highs. However, in the long term, gold is still considered a safe haven in the context of global economic and geopolitical instability.

World gold price chart on July 25. (Photo: kitco.com)

Carsten Menke, an analyst at Julius Baer Bank (Switzerland), said that demand for gold from those seeking safe havens has cooled down, while central bank purchases remain stable, although not as strong as at the beginning of the year.

“We still expect gold prices to increase in the long term,” said expert Carsten Menke.

The current movement of the precious metals market shows a balance between geopolitical factors and precious metals valuation. Going forward, trade policies and tariff information will remain important drivers of investor sentiment.

In addition, the market is also waiting for information from the next policy meeting of the US Federal Reserve (FED), scheduled to take place from July 29-30. The FED is expected to keep the current interest rate unchanged. However, investors still expect the bank to continue cutting interest rates in September. The low interest rate environment is beneficial for non-yielding assets such as gold.

This morning, the USD-Index increased slightly to 97.54 points; the yield on 10-year US Treasury bonds was at 4.393%; US stocks hit a new peak despite Tesla's plunge; oil prices edged up slightly, trading at 69.39 USD/barrel for Brent oil and 66.21 USD/barrel for WTI oil.

Source: https://baoquangninh.vn/gia-vang-ngay-25-7-trong-nuoc-dung-yen-the-gioi-giam-3368443.html