Gold prices stagnate due to the influence of the USD and US economic signals

DNVN - In the trading session on July 17, gold prices tended to decrease slightly under the impact of the increase in the value of the USD and positive data of the US economy. Investors continued to maintain a cautious mentality while waiting for more clear information related to the upcoming tariff developments.

Illustration photo. Photo: Internet

As of 0:55 a.m. on July 18, Vietnam time, spot gold price decreased by 0.3% to 3,337.43 USD/ounce, after falling to the session low of 3,309.59 USD/ounce.

In the opposite direction, US gold futures ended the session down 0.4% to $3,345.30/ounce.

According to Mr. Bob Haberkorn, senior market strategist at RJO Futures, after the US released the latest data, the USD and US government bond yields increased together, thereby creating pressure on the gold market.

The 0.3% rise in the US dollar made the precious metal priced in the greenback less attractive to buyers using other currencies.

New data showed the number of applications for unemployment benefits in the US fell last week, reflecting a stabilization in the labor market in July.
Meanwhile, US retail sales beat expectations with a 0.6% increase last month, although part of the gain may have come from rising prices due to the impact of tariffs.

A member of the US Federal Reserve Board of Governors, Adriana Kugler, said that the Fed should not cut interest rates for a while, as the impact of tariffs imposed by the Trump administration is starting to affect prices.

On the international trade front, Japan's top trade negotiator met with the US Commerce Secretary to discuss tariffs.
In that context, Japan is trying to reach an agreement with the US before the August 1 deadline to avoid a 25% tariff that could be imposed.

If Trump follows through on his threats and trade tensions escalate, it's not hard to imagine gold once again challenging - and potentially breaking - record prices, said Fawad Razaq, market analyst at City Index and FOREX.com.

Among other precious metals, spot silver rose 0.3% to $38.07 an ounce, while platinum jumped 3.1% to $1,460.13 an ounce.

In the Vietnamese market, on July 17, the price of SJC gold listed by Saigon Jewelry Company was at 118.60-120.60 million VND/tael (buy-sell).

---

If you need to reformat for print, digital publishing, or quickly summarize your newsletter, I can help.

Cao Thong

Source: https://doanhnghiepvn.vn/kinh-te/gia-vang-chung-lai-do-anh-huong-tu-dong-usd-va-cac-tin-hieu-kinh-te-my/20250718094618118