Gold rings continue to rise, adding 200,000 VND per tael.

Domestic gold prices this afternoon, July 11, 2024

As of 2:00 PM on July 11 , 2024, the price of gold on the exchanges of several companies was as follows:

The SJC gold price, as listed by gold dealers, is 74.98 million VND/ounce for buying and 76.98 million VND/ounce for selling.

This afternoon, DOJI listed the price of 9999 gold at 74.98 million VND/ounce for buying and 76.98 million VND/ounce for selling.

Meanwhile, at Mi Hong Gold and Gemstone Company, the price of SJC gold listed at the time of the survey was 76.20 - 76.98 million VND/ounce (buying price - selling price).

At Bao Tin Minh Chau Co., Ltd., the price of SJC gold is also being traded at 75.50 – 76.98 million VND/ounce (buying price – selling price). Meanwhile, at Bao Tin Manh Hai, it is being traded at 76.00 – 76.98 million VND/ounce (buying price – selling price).

SJC gold bars remain unchanged in terms of buying and selling prices, while world gold prices have risen sharply, narrowing the gap between domestic and international prices to 2.86 million VND/ounce.

Gold ring prices today saw a simultaneous increase of 200,000-300,000 VND per tael compared to yesterday. Specifically, at DOJI Group, the price of plain gold rings is currently listed at 75.35-76.60 million VND per tael, an increase of 100,000 VND per tael compared to yesterday. SJC Company adjusted the price up by 200,000 VND per tael to 74.55-76.25 million VND per tael. Bao Tin Minh Chau also increased by 100,000 VND per tael, listing gold ring prices at 75.28-76.58 million VND per tael.

The central exchange rate listed by the State Bank of Vietnam is 24,253 VND/USD, an increase of 6 VND/USD. The USD price at commercial banks is traded around 25,215 VND/USD for buying and 25,465 VND/USD for selling.

Gold prices today, July 11, 2024: SJC gold price, 9999 gold price, 24k gold price, 18k gold price. Photo: Can Dung

1. DOJI – Updated: 11/07/2024 13:22 – Website time of supply – ▼ / ▲ Compared to yesterday.
Type	Buy	Sell
AVPL/SJC HN	74,980	76,980
AVPL/SJC HCM	74,980	76,980
AVPL/SJC DN	74,980	76,980
Raw materials 9999 – HN	74,850 ▲300K	75,550 ▲200K
Ingredients 999 – HN	74,750 ▲300K	75,450 ▲200K
AVPL/SJC Can Tho	74,980	76,980

2. PNJ – Updated: 11/07/2024 13:30 – Website time of source – ▼ / ▲ Compared to yesterday.
Type	Buy	Sell
Ho Chi Minh City – PNJ	74,650 ▲350K	76,200 ▲300K
Ho Chi Minh City – SJC	74,980	76,980
Hanoi – PNJ	74,650 ▲350K	76,200 ▲300K
Hanoi – SJC	74,980	76,980
Da Nang – PNJ	74,650 ▲350K	76,200 ▲300K
Da Nang – SJC	74,980	76,980
Western Region – PNJ	74,650 ▲350K	76,200 ▲300K
Western Region – SJC	74,980	76,980
Gold jewelry prices – PNJ	74,650 ▲350K	76,200 ▲300K
Gold jewelry prices – SJC	74,980	76,980
Gold jewelry prices – Southeast Vietnam	PNJ	74,650 ▲350K
Gold jewelry prices – SJC	74,980	76,980
Gold jewelry prices – Gold jewelry prices	PNJ Ring (24K)	74,650 ▲350K
Gold jewelry prices – 24K jewelry	74,600 ▲400K	75,400 ▲400K
Gold jewelry prices – 18K jewelry	55,300 ▲300K	56,700 ▲300K
Gold jewelry prices – 14K jewelry	42,860 ▲230K	44,260 ▲230K
Gold jewelry prices – 10K jewelry	30,120 ▲170K	31,520 ▲170K

World gold price today, July 11, 2024, and chart of world gold price fluctuations over the past 24 hours.

According to Kitco, the spot price of gold in the world market at 2:00 PM Vietnam time today was $2,380.68 USD/ounce. Today's gold price increased by $11.41 USD/ounce compared to yesterday's price. Converted using the current exchange rate at Vietcombank, the world gold price is approximately 72.120 million VND/ounce (excluding taxes and fees). Therefore, the price of SJC gold bars is still 2.86 million VND/ounce higher than the international gold price.

Gold price fluctuation chart over the past 24 hours

The spot price of gold in the global market stood at $2,380.68 per ounce, a further increase of over $11 per ounce compared to the same time yesterday. The precious yellow metal continued its upward trend amidst the Federal Reserve Chairman's statement to the US House Committee regarding improving performance.

While maintaining a cautious stance, Powell acknowledged that inflation had cooled and indicated that the likelihood of interest rate cuts would increase if more positive data emerged.

According to StoneX analyst Rhona O'Connell, Jerome Powell's remarks signaled optimism about an earlier-than-expected interest rate cut, and this is supporting prices.

Gold price forecast

According to the CME FedWatch tool, traders are currently forecasting a 73% probability of an interest rate cut in September. Another cut is expected in December.

The market is awaiting the US Consumer Price Index (CPI) data, scheduled for release on Thursday. Experts forecast inflation to rise 0.1% month-on-month, while core inflation (excluding volatile energy and food prices) will increase 0.2%. Annual increases would be 3.1% and 3.4%, respectively. The Producer Price Index (PPI) report will also be released on Friday.

Source: https://congthuong.vn/gia-vang-chieu-nay-1172024-vang-nhan-tiep-da-tang-them-200000-dong-moi-luong-331453.html