Domestic gold price July 17 at 9:00 a.m. was listed by SJC Hanoi at 39.00 million VND/tael (down 50,000 VND for buying) and 39.22 million VND/tael (down 50,000 VND for selling) compared to yesterday morning's session.
Doji Jewelry Group in Hanoi listed at 39.10 million VND/tael (maintained for buying) and 39.33 million VND/tael (down 20,000 VND for selling) compared to the session yesterday morning.
Ho Chi Minh City SJC listed at 39.00 million VND/tael (down 50,000 VND for buying) and 39.20 million VND/tael (down 50,000 VND/tael for selling) compared to the morning session on July 16.
The world gold price until early morning of July 17 (Vietnam time) on Kitco was trading at 1,404.40 - 1,405.40 USD/ounce.
August gold futures finally fell $3.60 an ounce to $1,409.80.
Gold prices today are 8.1% higher (105.5 USD/ounce) than in early 2018. World gold converted to USD is priced at 39.0 million VND/tael, excluding taxes and fees, 300,000 VND lower than domestic gold.
Gold prices stagnated after the US released positive retail sales figures. American consumers spend more than the market expects.
According to the US Commerce Department, the country's retail sales in June increased by 0.4%, much higher than the forecast increase of 0.1% by economists. US retail sales data immediately hit the USD.
It has led investors to reduce expectations of a strong interest rate cut by the US Federal Reserve (Fed). Gold prices have therefore gradually declined to $1,400/ounce.
Many experts believe that gold may fall as US-China trade tensions cool down. Finance Minister Steven Mnuchin has just said that he and US trade representative Robert Lighthizer may go to Beijing to discuss trade after phone talks with Chinese officials this week.
