Updated gold price at the end of session 17.7: Gold rings increased

SJC gold bar price

As of 5:00 p.m., the price of SJC gold bars was listed by Saigon Jewelry Company at 118.6-120.6 million VND/tael (buy in - sell out); unchanged in both directions. The difference between buying and selling prices is at 2 million VND/tael.

DOJI Group listed at 118.6-120.6 million VND/tael (buy - sell); unchanged in both directions. The difference between buying and selling prices is at 2 million VND/tael.

Meanwhile, Bao Tin Minh Chau listed the price of SJC gold bars at 118.6-120.6 million VND/tael (buy in - sell out); unchanged in both directions. The difference between buying and selling prices is at 2 million VND/tael.

Phu Quy Gold and Stone Group listed the price of SJC gold bars at 117.9-120.6 million VND/tael (buy in - sell out); unchanged in both directions. The difference between buying and selling prices is at 2.7 million VND/tael.

9999 gold ring price

As of 5:00 p.m., Bao Tin Minh Chau listed the price of gold rings at 116-119 million VND/tael (buy - sell), an increase of 700,000 VND/tael in both directions. The difference between buying and selling is 3 million VND/tael.

DOJI Group listed the price of gold rings at 115.9-118.4 million VND/tael (buy - sell), an increase of 300,000 VND/tael in both directions. The difference between buying and selling is 2.5 million VND/tael.

Phu Quy Gold and Stone Group listed the price of gold rings at 114.5-117.5 million VND/tael (buy in - sell out), down 100,000 VND/tael in both directions. The difference between buying and selling is 3 million VND/tael.

World gold price

The world gold price was listed at 5:00 p.m. at 3,327.4 USD/ounce, down 8.1 USD/ounce compared to 1 day ago.

Gold price forecast

Gold prices fell, the US dollar strengthened, as investors' concerns temporarily eased after US President Donald Trump announced that he had no plans to fire US Federal Reserve Chairman Jerome Powell.

Previously, some sources said that Mr. Trump was considering sacking Mr. Powell, causing gold prices to skyrocket by 1.6%. However, Mr. Trump later confirmed that he had no intention of sacking the Fed Chairman, although he still left this possibility open and continued to criticize Mr. Powell for not cutting interest rates.

Yesterday, gold prices increased due to these baseless rumors. When rumors are extinguished, gold prices start to fall, said Nitesh Shah, commodity strategist at WisdomTree.

Investors are now waiting for US unemployment claims and retail sales data to be released later in the day, along with speeches from some Fed officials that could reveal monetary policy prospects.

Regarding tariffs, Mr. Trump said the US could "rigorously comply" with tax regulations with Japan and was about to reach a trade deal with India.

I think if the US achieves better trade deals after the August 1 deadline, it could be at a disadvantage for gold prices, Shah said.

Analysts note that gold is currently reacting quite limited to trade uncertainties and is waiting for new momentum. Prices still range from $3,300 to $3,400 an ounce.

In other precious metals, spot silver fell 0.4%, to $37.78/ounce. platinum fell 0.7% to $1,407.03/ounce, while gold fell 0.8% to $1,221.33/ounce.