Last week, gold rings continued to accelerate, "chasing" gold bar prices.

Domestic gold price this afternoon 7/7/2024

At the time of survey at 2:00 p.m. on July 7, 2024, the gold price today, July 7, on the trading floors of some companies is as follows:

The price of SJC gold listed by the gold house is 74.98 million VND/tael for buying and 76.98 million VND/tael for selling.

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

At Mi Hong Gold and Gemstone Company, the price of Mi Hong gold at the time of survey listed the price of SJC gold at 76.20 - 76.98 million VND/tael (buy - sell).

SJC gold price at Bao Tin Minh Chau Company Limited is also traded by the enterprise at 75.50 - 76.98 million VND/tael (buy - sell). Meanwhile, at Bao Tin Manh Hai, it is being traded at 76.00 - 76.98 million VND/tael (buy - sell).

SJC gold bars last week still recorded a flat trend, however, with the current buying-selling gap listed at a high level of about 2 million VND/tael, gold buyers still suffered heavy losses. Specifically, if buying gold at SJC in the trading session on June 30 at the price of 76.98 million VND/tael, this week, gold buyers still lost 2 million VND/tael.

Last week, gold rings recorded a week of price increase, currently the gap between gold ring prices and gold bars is increasingly narrowing. Accordingly, DOJI 9999 gold rings are at 75.65-76.95 million VND/tael, 670,000 VND higher for buying and only 30,000 VND lower for selling compared to the price of SJC gold bars.

Bao Tin Minh Chau Company is currently listing the price of Thang Long gold dragon round gold rings at 75.38 - 76.68 million VND/tael, 120,000 VND lower for buying and 300,000 VND lower for selling compared to the price of SJC gold bars.

Thus, compared to the beginning of this year, the price of gold rings has increased from 12.7 to nearly 14 million VND per tael, depending on the brand. From being more than 10 million VND/tael lower than the price of SJC gold, the price of gold rings is now almost equal to or surpassing the price of SJC gold bars. In the context of high world gold prices, the price of gold rings is forecast to continue to increase in the near future.

The central exchange rate listed by the State Bank is 24,246 VND/USD, down 5 VND/USD. The USD price at commercial banks is traded around 25,208 VND/USD for buying and 25,458 VND/USD for selling.

Gold price this afternoon 7/7/2024. Photo: illustration.

1. DOJI - Updated: 07/07/2024 08:39 - Time of the source website - ▼ / ▲ 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 material 9999 - HN	74,900	75,700
Raw material 999 - HN	74,800	75,600
AVPL/SJC Can Tho	74,980	76,980

2. PNJ - Updated: 07/07/2024 14:00 - Website supply time - ▼ / ▲ Compared to yesterday.
Type	Buy	Sell
HCMC - PNJ	74,600	76,100
HCMC - SJC	74,980	76,980
Hanoi - PNJ	74,600	76,100
Hanoi - SJC	74,980	76,980
Da Nang - PNJ	74,600	76,100
Da Nang - SJC	74,980	76,980
Western Region - PNJ	74,600	76,100
Western Region - SJC	74,980	76,980
Jewelry gold price - PNJ	74,600	76,100
Jewelry gold price - SJC	74,980	76,980
Jewelry gold price - Southeast	PNJ	74,600
Jewelry gold price - SJC	74,980	76,980
Jewelry gold price - Jewelry gold price	PNJ Ring (24K)	74,600
Jewelry Gold Price - 24K Jewelry	74,500	75,300
Jewelry Gold Price - 18K Jewelry	55,230	56,630
Jewelry Gold Price - 14K Jewelry	42,800	44,200
Jewelry Gold Price - 10K Jewelry	30,080	31,480

World gold price today 7/7/2024 and world gold price fluctuation chart in the past 24 hours

According to Kitco, the world gold price recorded at 2:00 p.m. today, Vietnam time, was at 2,391.08 USD/ounce. Converted according to the current exchange rate at Vietcombank, the world gold price is about 72.415 million VND/tael (excluding taxes and fees). Thus, the price of SJC gold bars is still 2.565 million VND/tael higher than the international gold price.

Gold price fluctuation chart in the last 24 hours

The yellow metal closed the trading week at $2,391.08 an ounce, recording a strong gain while the greenback fell sharply – the DXY index comparing the greenback against a basket of other currencies slipped below the 105 mark at the end of the last trading week.

Also last week, weak economic data as the labor market slowed increased expectations that the US Federal Reserve (FED) would cut interest rates in early September. The market currently has a nearly 80% chance of a rate cut after the summer break.

Gold Price Forecast

After a long period of consolidation, world gold prices escaped the gloomy situation this week as there were new signs of weakness in the labor market. The precious metal once again approached the $ 2,400 / ounce mark.

It may be a bit early to call gold's consolidation phase over, but he remains optimistic that prices will eventually move higher, said Ole Hansen, head of commodity strategy at Saxo Bank.

Bond yields are likely to be lower and the dollar will weaken next week, which could be a catalyst for gold to test a new level of $2,400 an ounce, said Marc Chandler, CEO of Bannockburn Global Forex.

Source: https://congthuong.vn/gia-vang-chieu-nay-772024-vang-nhan-tuan-qua-tiep-tuc-tang-toc-ruot-duoi-gia-vang-mieng-330568.html