Gold price update at the close of the session on July 26: Losses when surfing

SJC gold bar price

Closing the week's trading session, Saigon SJC Jewelry Company listed SJC gold price at 137.5-141.5 million VND/tael (buying - selling). The buying - selling difference is at 4 million VND/tael.

Compared to the closing session of last week (July 19), SJC gold bar price at Saigon SJC Jewelry Company decreased by 7 million VND/tael on the buying side and decreased by 6 million VND/tael on the selling side.

Meanwhile, DOJI listed SJC gold price at 137.5-141.5 million VND/tael (buying - selling). The buying - selling difference is at 4 million VND/tael.

Compared to the closing session of last week (July 19), SJC gold bar price at DOJI decreased by 7 million VND/tael on the buying side and decreased by 6 million VND/tael on the selling side.

If buying SJC gold bars on July 19 and selling them on today's session (July 26), buyers at Saigon Jewelry Company SJC and DOJI will both lose 10 million VND/tael.

9999 gold ring price

At the same time, DOJI Group listed the price of gold rings at the threshold of 138.5-142.5 million VND/tael (buying - selling), down 4.8 million VND/tael in both buying and selling directions. The buying - selling difference is at 4 million VND/tael.

Phu Quy Jewelry Group listed the price of gold rings at 137.5-141.5 million VND/tael (buying - selling), down 5.5 million VND/tael on the buying side and down 5 million VND/tael on the selling side. The buying - selling difference is at 4 million VND/tael.

If buying gold rings on July 19 and selling them on today's session (July 26), buyers at DOJI will lose 8.8 million VND/tael, while buyers at Phu Quy will lose 9 million VND/tael.

World gold price

Closing the weekly trading session, world gold prices were listed at 4,051.7 USD/ounce, down 34.4 USD compared to a week ago.

Gold price forecast

Gold prices are forecast to enter a volatile trading week as the market welcomes a series of monetary policy decisions and important economic data. Although the precious metal still maintains the 4,000 USD/ounce support zone, analysts are more cautious about the possibility of price increases in the short term.

The results of a weekly gold survey by a precious metals website with 18 Wall Street experts show that only 4 people, equivalent to 22%, predict gold prices will increase next week. 7 experts, accounting for 39%, predict prices will decrease; the remaining 7 people believe the market will continue to move sideways.

Meanwhile, the psychology of individual investors is more positive. In 249 online survey participations, 147 people, equivalent to 59%, expected gold prices to increase; 48 people predicted prices to decrease and 54 people predicted prices would not fluctuate significantly.

This difference shows that the $4,000/ounce mark is strengthening the confidence of small investors, but experts are still concerned that the factors putting pressure on gold have not completely disappeared. The USD remains near the high zone, while US jobs and business data continue to show that the economy is still resilient. This may cause the US Federal Reserve (Fed) to maintain higher interest rates longer than expected.

The focus of next week is the interest rate decision and the Fed's policy message. If this agency continues to show a tough stance on inflation, the USD and bond yields may increase, thereby disadvantaging gold. Conversely, softer signals about monetary policy prospects may help the precious metal recover.

In addition to the Fed, the market is also monitoring the decisions of the Bank of England and the Bank of Japan, along with reports on consumer confidence, Q2 GDP, the consumer spending index and the number of jobless claims in the US.

Cooling oil prices and falling US bond yields are creating certain support for gold. However, the high USD and unclear interest rate outlook may limit the upward momentum. In case economic data sends mixed signals, gold prices are likely to continue to fluctuate widely. If the data consolidates a clear policy direction, the market may form a new trend after this important trading week.