The domestic gold price today (July 22) at 9:00 a.m. was listed by DOJI Gold and Gemstone Group at: 39.35 million VND/tael (buy) and 39.75 million VND/tael (sell), down 270,000 VND compared to yesterday in the afternoon of buying.
SJC Company listed the gold price for buying at 39.4 million VND/tael, and for selling at 39.72 million VND/tael. In the Ho Chi Minh City market, the selling price is listed at 39.70 million VND/tael.
World gold prices opened this morning's trading session (Vietnam time) around 1,423.03 USD/oz, (down 2.33 USD) for buying; 1423.47 USD/oz for selling compared to yesterday's trading session.
Sean Lusk, co-head of commercial risk insurance at Walsh Trading, said that by preventing a major geopolitical crisis, the market could take profits with many viewpoints of the Fed's dovishness being factored in prices.
In addition, Fed Chairman John Williams's comments in New York were seen as a support for the Fed's sharp rate cut at its meeting later this month, causing bond and USD interest rates to fall, and these are two conditions for gold prices to increase.
There was a time last week when gold prices reached 1,450 USD/ounce - the highest level in 6 years. If calculated on the closing price of July 12, 2019, gold prices had a week of increase of 1%, and was the strongest week of increase in gold since the week ended June 21, 2019.
The surveys recently released by Kitco on July 21 showed that up to 67% of experts surveyed predicted gold prices would increase next week, while only 25% predicted prices would decrease and 11% remained neutral.
Online surveys conducted with gold investors also showed that more than 74% of surveyed investors predicted gold prices to continue, only 15% of investors said gold prices would decrease and 11% said gold prices would move sideways.
The above forecasts are based on many factors that can strongly affect world gold prices, thereby directly affecting domestic gold prices.
