Gold price today 7.7: Domestic gold suddenly drops

Updated SJC gold price

As of 9:30 a.m., the price of SJC gold bars was listed by Saigon Jewelry Company at VND 118.5-120.5 million/tael (buy in - sell out), down VND 400,000/tael in both directions. The difference between buying and selling prices is at 2 million VND/tael.

DOJI Group listed the price of SJC gold bars at VND 118.5-120.5 million/tael (buy in - sell out), down VND 400,000/tael 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 118.5-120.5 million VND/tael (buy in - sell out), down 400,000 VND/tael 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 117.8-120.5 million VND/tael (buy - sell), down 400,000 VND/tael in both directions. The difference between buying and selling prices is at 2.7 million VND/tael.

9999 round gold ring price

As of 9:30 a.m., DOJI Group listed the price of gold rings at VND115-117 million/tael (buy in - sell out), down VND500,000/tael in both directions. The difference between buying and selling is at 2 million VND/tael.

Bao Tin Minh Chau listed the price of gold rings at 115.2-118.2 million VND/tael (buy - sell), down 500,000 VND/tael in both directions. The difference between buying and selling is 3 million VND/tael.

Phu Quy Gold and Stone Group listed the price of gold rings at 113.9-116.9 million VND/tael (buy - sell), down 400,000 VND/tael in both directions. The difference between buying and selling is 3 million VND/tael.

The buying-selling gap is pushed up too high, increasing the risk for individual investors. Personal investors, especially those with a "surfing" mentality, need to consider carefully before putting money down.

World gold price

At 9:36 a.m., the world gold price was listed around 3,313.1 USD/ounce, down 22.8 USD/ounce compared to 1 day ago.

Gold price forecast

Rich Checkan - Chairman and CEO of Asset Strategies International is one of the experts who gave a positive assessment of gold prices. He stressed that the risk of US public debt is climbing strongly.

Meanwhile, Sean Lusk - co-head of commercial risk prevention at Walsh Trading, expressed a more cautious view in the short term but maintained the view that prices will increase to the medium and long term.

This expert believes that interest rate cuts are not in line with the current context. According to him, normally, only when the economy is weak does it take to reduce interest rates. Meanwhile, the economy is still stable, with stocks at a record high. Inflation has cooled down, food and energy prices have both fallen.

Sean Lusk assessed the precious metal as being overbought above $3,300/ounce and is likely to adjust to the $3,123-3,225 range, although the long-term trend remains positive. He predicted that any price decline will be temporary and gold prices will continue to increase in 2025, especially as the market gradually becomes more certain about trade agreements and economic policies.

On the contrary, Adrian Day - Chairman of Adrian Day Asset Management, said that gold prices will face correction pressure. There is a possibility of a series of negative factors appearing together, including a number of tariff agreements and increased speculation about the FED cutting interest rates in July in the context of slowing gold purchases by central and Chinese banks outside the official market. However, any adjustment could be shallow and short-term," he said.

In the neutral group, Colin Cieszynski - Chief Market Strategist at SIA Wealth Management, said that the Fed is in a dilemma. The Fed is stuck. Inflation has fallen, so the Fed should have had space to cut rates. However, the economy is strong, and normally, when the economy is strong, interest rates will increase because inflation tends to increase" - he said.

He warned that interest rate cuts could create a negative signal for the market. According to him, when the FED lowers interest rates, many people will not consider it a sign of a stabilization of the economy, but will consider it an emergency measure only used when the economy falls into recession.

If we cut interest rates aggressively, history shows that the Fed often does it when the economy is in trouble, at that time stocks increase and growth improves, he explained.