The domestic gold price today (July 25.) at 9:00 a.m. was listed by Hanoi SJC at 39.49 million VND/tael (up 90,000 VND/tael for buying) and 39.76 million VND/tael (up 90,000 VND/tael for selling) compared to yesterday morning's session.
Doji Jewelry in Hanoi was listed at 39.76 million VND/tael (up 380,000 VND/tael for buying) and 39.67 million VND/tael (down 10,000 VND/tael for selling) compared to the session yesterday morning.
Ho Chi Minh City SJC listed at 39.49 million VND/tael (up 90,000 VND/tael for buying) and 39.74 million VND/tael (up 90,000 VND/tael for selling) compared to the morning session on July 24.
The world spot gold price stood at 1,422 USD/oz, up 2.55 USD/oz compared to yesterday morning's session.
Gold prices today are 9.5% above $123.5 an ounce) compared to early 2018. World gold converted to USD is priced at 39.5 million VND/tael, excluding taxes and fees, 300,000 VND lower than domestic gold.
According to many economic experts, gold prices may increase due to escalating tensions in the Middle East, causing investors to turn to buying gold to preserve their assets. In addition, the USD is under downward pressure ahead of the meeting at the end of this month.
According to market signals, the US Federal Reserve (Fed) is likely to cut interest rates by up to 100% at its meeting on July 30-31. The possibility of a 50 basis point cut is also up to 18%.
Investors are witnessing a quantum easing race by many banks in the world to prevent the possibility of economic downturn.
The European Central Bank (ECB) is expected to signal a looser monetary policy at its meeting on Thursday.
