Gold price update at the close of the session on July 22: World prices soar, domestic prices fall

SJC gold bar price

As of 7:35 PM, Phu Quy Jewelry Group listed SJC gold bar prices at 141.5-146 million VND/tael (buying - selling), down 1 million VND/tael on the buying side and down 400,000 VND/tael on the selling side. The difference between buying and selling prices is at 4.5 million VND/tael.

SJC gold bar price was listed by DOJI at 142-146 million VND/tael (buying - selling), down 1.4 million VND/tael on the buying side and down 400,000 VND/tael on the selling side. The difference between buying and selling prices is at 4 million VND/tael.

SJC gold bar price was listed by Bao Tin Minh Chau at the threshold of 143.4-147.2 million VND/tael (buying - selling), an increase of 400,000 VND/tael on the buying side and an increase of 500,000 VND/tael on the selling side. The difference between buying and selling prices is at the threshold of 3.8 million VND/tael.

9999 gold ring price

As of 7:35 PM, Phu Quy Gold and Gems Group listed the price of gold rings at 141.5-145 million VND/tael (buying - selling), down 500,000 VND/tael in both buying and selling directions. The difference between buying and selling prices is at 3.5 million VND/tael.

DOJI listed gold ring prices at 142-146 million VND/tael (buying - selling), down 1.2 million VND/tael on the buying side and down 200,000 VND/tael on the selling side. The difference between buying and selling prices is at 4 million VND/tael.

Bao Tin Minh Chau listed gold ring prices at the threshold of 143.4-147.2 million VND/tael (buying - selling), an increase of 400,000 VND/tael on the buying side and an increase of 500,000 VND/tael on the selling side. The difference between buying and selling prices is at the threshold of 3.8 million VND/tael.

World gold price

At 7:35 p.m., the world gold price was listed at around 4,126.9 USD/ounce, an increase of 71.4 USD/ounce.

Gold price forecast

World gold prices are maintaining a recovery momentum after surpassing the 4,100 USD/ounce mark. Shelter buying power and settlement of sell positions helped the precious metal at one point reach its highest level in about two weeks.

At 4:10 PM on July 22 Vietnam time, world gold prices were listed around 4,120 USD/ounce. This development shows that buyers are dominating, especially after the price successfully protected the 4,000 USD/ounce area and surpassed some short-term resistance levels.

Geopolitical risks in the Middle East continue to be a significant supporting factor. Concerns related to the US-Iran conflict, the Strait of Hormuz and transportation activities in the Red Sea have led cash flows to tend to safe assets.

However, the outlook for gold is still not entirely favorable. The USD index stands around 101.22 points, while the yield of 10-year US government bonds is approaching 4.63%. The USD and high yields can limit the strong increase of the precious metal.

Rising oil prices also create a two-way impact. Supply instability increases the need for risk hedging, but high energy costs may cause prolonged inflation. This reduces the possibility that the US Federal Reserve (Fed) will soon ease monetary policy.

In the coming sessions, the market will focus on the Fed meeting on July 29 and new US economic data. If gold prices maintain the 4.072 USD/ounce zone, the recovery trend may continue. Conversely, losing the 4.041 USD/ounce zone may cause adjustment pressure to return.