Gold price update at the closing session on July 25: Short-term outlook less optimistic

SJC gold bar price

As of 7:00 PM, Phu Quy Jewelry Group listed SJC gold bar prices at 137.5-141.5 million VND/tael (buying - selling), an increase of 2 million VND/tael on the buying side and an increase of 1 million 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 DOJI at the threshold of 137.5-141.5 million VND/tael (buying - selling), an increase of 2 million VND/tael on the buying side and an increase of 1 million VND/tael on the selling side. The difference between buying and selling prices is at the threshold of 4 million VND/tael.

SJC gold bar price was listed by Bao Tin Minh Chau at the threshold of 138.9-142.7 million VND/tael (buying - selling), an increase of 50,000 VND/tael in both buying and selling directions. The difference between buying and selling prices is at the threshold of 3.8 million VND/tael.

9999 gold ring price

As of 7:00 PM, Phu Quy Gold and Gems Group listed the price of gold rings at 137.5-141.5 million VND/tael (buying - selling), an increase of 2 million VND/tael on the buying side and an increase of 1 million VND/tael on the selling side. The difference between buying and selling prices is at 4 million VND/tael.

DOJI listed gold ring prices at the threshold of 138.5-142.5 million VND/tael (buying - selling), an increase of 500,000 VND/tael on the buying side and keeping the selling side unchanged. The difference between buying and selling prices is at the threshold of 4 million VND/tael.

Bao Tin Minh Chau listed the price of gold rings at the threshold of 138.9-142.7 million VND/tael (buying - selling), an increase of 50,000 VND/tael in both buying and selling directions. The difference between buying and selling prices is at the threshold of 3.8 million VND/tael.

World gold price

At 7:00 PM, world gold prices were listed around the threshold of 4,051.7 USD/ounce, down 6.3 USD/ounce.

Gold price forecast

Gold prices next week are forecast to continue to fluctuate strongly as the market turns its attention to the monetary policy meeting of the US Federal Reserve (Fed).

Although the precious metal still maintains a support zone around 4,000 USD/ounce, the short-term trend is not clear due to the strong USD, high US bond yields and inflationary pressure risking returning.

The positive point is that the yield of 10-year US government bonds has cooled down after hitting a high in about 18 months. This development helps reduce the opportunity cost of holding gold. In addition, instability in the Middle East, the Strait of Hormuz and transportation routes on the Red Sea still maintain defense needs.

However, if oil prices rise sharply again, inflation expectations may heat up, giving the Fed more reason to keep interest rates high longer. At that time, the USD and bond yields may increase, putting pressure on gold prices.

Market sentiment is currently clearly differentiated. In a weekly survey of 18 Wall Street experts by a precious metals website, only 4 people, equivalent to 22%, predicted gold prices would increase. 7 people, accounting for 39%, said prices would decrease, while the remaining 7 experts predicted the market would move sideways.

On the contrary, individual investors are somewhat more optimistic. Among 249 online survey participants, 59% expect gold to recover next week. About 19% forecast prices to fall and 22% believe the market continues to accumulate.

In addition to the Fed's interest rate decision, investors will monitor US Q2 GDP growth data, the personal consumer price index and the meeting of the Bank of Japan. These data may change expectations about the interest rate roadmap, while affecting the USD and gold holding demand.

In the context of intertwined economic and geopolitical signals, gold prices are likely to continue to struggle and react strongly to the interest rate management message from the Fed.