Gold price today July 17, 2024, the world market increased thanks to optimism about interest rate cuts in the US after comments from the Chairman of the US Federal Reserve (Fed). Entering July, more optimism about interest rate cuts in September helped gold bullion prices rise again.
LIVE UPDATE TABLE OF GOLD PRICE TODAY 7/17 and EXCHANGE RATE TODAY 7/17
| 1. SJC - Updated: 07/16/2024 08:22 - Website time of supply source - ▼ / ▲ Compared to yesterday. | ||
| Type | Buy | Sell |
| SJC 1L, 10L, 1KG | 75,480 | 76,980 |
| SJC 5c | 75,480 | 77,000 |
| SJC 2c, 1c, 5c | 75,480 | 77,010 |
| SJC 99.99 gold ring 1 chi, 2 chi, 5 chi | 75,450 ▲300K | 76,850 ▲200K |
| SJC 99.99 gold ring 0.3 chi, 0.5 chi | 75,450 ▲300K | 76,950 ▲200K |
| Jewelry 99.99% | 75,350 ▲300K | 76,350 ▲300K |
| Jewelry 99% | 73,594 ▲297K | 75,594 ▲297K |
| Jewelry 68% | 49,573 ▲204K | 52,073 ▲204K |
| Jewelry 41.7% | 29,491 ▲125K | 31,991 ▲125K |
Update gold price today 7/17/2024
Domestic gold price of SJC brand on the afternoon of July 16 The selling price remains the same, but the buying price has been adjusted up at Doji Group. Specifically, this group adjusted the buying price up by 520,000 VND/tael, to 75.5 million VND/tael, while the selling price remained unchanged at 76.98 million VND/tael.
Saigon Jewelry Company and PNJ system continued to buy and sell gold bars at the end of the session at 75.48 - 76.98 million VND/tael. Phu Quy Group's SJC gold price remained unchanged this afternoon at 75.8 million VND/tael for buying and 76.98 million VND/tael for selling.
World gold prices jumped on optimism about interest rate cuts in the US following comments from US Federal Reserve Chairman Jerome Powell, while investors waited for economic data to inform them about the policy easing roadmap.
Mr. Powell said that the inflation data in the second quarter of this year has increased confidence that the pace of price increases has returned to the Fed's sustainable target. Investors are waiting for retail sales data, scheduled for release at 12:30 (local time), for more clues on the health of the world's top economy.
Gold hit new highs in April and May, then fell back in June as expectations of a US rate cut were dismissed and physical demand began to weaken due to high prices. In July, increased optimism about a September rate cut helped push bullion higher again.
According to TG&VN at 7:00 p.m. on July 16, the world gold price on the Kitco exchange was at 2,438.4 - 1,439.4 USD/ounce, up 16.8 USD compared to the previous trading session.
 |
| Gold price today July 17, 2024: World gold price 'rides the wave', surpasses all-time high, Fed Chairman 'pushes the boat'. (Source: Kitco) |
Summary of SJC gold prices at major domestic trading brands at the closing time of July 16:
Saigon Jewelry Company listed at 75.48 - 76.98 million VND/tael.
Doji Group is currently listed at: 74.98 - 76.98 million VND/tael.
PNJ system listed at: 75.48 - 76.98 million VND/tael.
Phu Quy Gold and Silver Group listed at 75.80 - 76.98 million VND/tael.
SJC gold price at Bao Tin Minh Chau is listed at: 75.88 - 76.98 million VND/tael.
Gold prices tend to fluctuate strongly during the US presidential election
Historically, gold prices tend to be volatile in the weeks before and after US presidential elections.
According to statistics from Nasdaq, in 2016, when Mr. Trump and Mrs. Hillary Clinton ran for US President, the price of gold increased by about 50 USD/ounce in the weeks before the election, reaching more than 1,300 USD/ounce on November 4, 2016.
Following Mr Trump’s victory, gold prices fell significantly, hitting a nine-month low of $1,128 an ounce in mid-December. After that low, gold prices began to recover and by mid-January 2017 were once again above $1,200 an ounce.
Gold prices have risen significantly during Mr. Trump's presidency, rising from $1,209 an ounce when he took office on January 20, 2017 to $1,839 an ounce on his last day in office, January 19, 2021.
Gold has also seen significant gains during Biden’s presidency, with prices at $1,871 an ounce when he took over the White House on January 20, 2021. The precious metal is now firmly anchored above $2,400 an ounce after repeatedly breaking old records in May.
Experts say that after the US presidential election in November, if there is a change in government, the price of gold will fluctuate. Currently, many investors have increased their gold purchases to hedge against future policy uncertainties.
Source: https://baoquocte.vn/gia-vang-hom-nay-1772024-gia-vang-the-gioi-cuoi-song-vuot-cuoc-cao-nhat-moi-thoi-dai-chu-tich-fed-day-thuyen-278903.html
Comment (0)