Gold price today 8. 7: Under pressure, continues to decrease

Khương Duy |

Gold price today 8. 7: World gold continues to decrease due to heavy pressure. Domestically, gold prices decreased by about 1 million VND/tael.

SJC gold bar price

As of 9:30 am, Phu Quy Gold and Gems Group listed SJC gold bar prices at 146-149.5 million VND/tael (buying - selling), down 1 million VND/tael in both buying and selling directions. The difference between buying and selling prices is at 3.5 million VND/tael.

At the same time, SJC gold bar prices were listed by DOJI Group at the threshold of 146.5-149.5 million VND/tael (buying - selling), down 1 million VND/tael in both buying and selling directions. The difference between buying and selling prices is at the threshold of 3 million VND/tael.

Diễn biến giá vàng SJC những phiên giao dịch gần đây. Biểu đồ: AI
SJC gold price movements in recent trading sessions. Chart: AI

Bao Tin Minh Chau listed SJC gold bar prices at 144.8-148.8 million VND/tael (buying - selling), down 1.7 million VND/tael on the buying side and down 1.2 million VND/tael on the selling side. The difference between buying and selling prices is at 4 million VND/tael.

9999 gold ring price

As of 9:30 am, Phu Quy Gold and Gems Group listed the price of gold rings at 146-149 million VND/tael (buying - selling), down 1 million VND/tael in both buying and selling directions. The difference between buying and selling prices is at 3 million VND/tael.

Diễn biến giá vàng nhẫn những phiên giao dịch gần đây. Biểu đồ: AI
Gold ring price movements in recent trading sessions. Chart: AI

DOJI Group listed gold ring prices at the threshold of 146.5-149.5 million VND/tael (buying - selling), down 900,000 VND/tael in both buying and selling directions. The difference between buying and selling prices is at the threshold of 3 million VND/tael.

Bao Tin Minh Chau listed the price of gold rings at 144.8-148.8 million VND/tael (buying - selling), down 1.7 million VND/tael on the buying side and down 1.2 million VND/tael on the selling side. The difference between buying and selling prices is at the threshold of 4 million VND/tael.

Giá vàng miếng SJC và nhẫn trơn tại một số đơn vị kinh doanh. Đơn vị: đồng/lượng. Đồ họa: AI
SJC gold bar and plain ring prices at some business units. Unit: VND/tael. Graphics: AI

World gold price

At 9:33 am, world gold prices were listed around the threshold of 4,117.4 USD/ounce, down 25 USD/ounce.

Diễn biến giá vàng thế giới những phiên giao dịch gần đây. Biểu đồ: AI
Developments in world gold prices in recent trading sessions. Chart: AI

Gold price forecast

Gold prices are under pressure in the short term as US bond yields rise, the USD strengthens, and tensions in the Strait of Hormuz continue to affect the energy market. However, some experts believe that long-term supporting factors for the precious metal have not disappeared.

After the US June jobs report was weaker than expected, gold prices once recovered but could not overcome the 4,200 USD/ounce mark. This development shows that the market is still in an accumulation phase, as support from the weakening labor market is balanced by pressure from bond yields and the greenback.

The number of new jobs in the US in June only increased by 57,000, lower than the forecast of 115,000. Data from the previous two months was also adjusted down by a total of 74,000 jobs. These figures partly reduced expectations that the US Federal Reserve (Fed) would soon have to raise interest rates.

However, oil prices are rising again as geopolitical risks are complicating gold's outlook. Higher energy prices could boost inflation expectations, causing bond yields to remain high and limiting cash flow to gold. Therefore, although international tensions often create safe-haven demand, the impact on precious metals is not entirely one-way.

Regarding the medium-term outlook, Mr. Craig Hemke - an analyst at Sprott Money (one of the gold, silver and platinum businesses investing in Canada) said that the most difficult period for gold and silver in 2026 may have passed. According to him, energy prices once increased sharply after tensions in the Middle East escalated, raising concerns about inflation and leading to expectations that the Fed will maintain a tough monetary policy.

However, as oil prices have cooled down significantly compared to their peak, inflationary pressure from energy is likely to decrease in the coming months. If inflation continues to fall, expectations of the Fed raising interest rates will also weaken, thereby creating a more favorable environment for gold.

However, Mr. Craig Hemke does not expect gold prices to immediately recover according to the V-shaped pattern. After a period of strong correction, the market may need more time to move sideways to improve technical signals and investor sentiment.

Technically, the 4,200-4,260 USD/ounce zone is an important resistance area. If it is surpassed and maintained above this zone, gold prices may move towards higher levels. Conversely, the 4,951 USD/ounce zone is considered near support, before the market tests the psychological threshold of 4,000 USD/ounce.

Gold price data is compared to the previous day.

See more news related to gold prices HERE...

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