Gold price today July 16: SJC gold bars are 15 million VND/tael higher than the world price

For two consecutive days, the world gold price increased in the Asian and European trading sessions but decreased sharply in the US session. Although little changed, the domestic gold price is still 11 - 15 million VND per tael higher than the world price.

Mi Hong Company increased the selling price of SJC gold bars by 300,000 VND, to 120.8 million VND per tael, while the buying price remained unchanged at 119.1 million VND. Saigon Jewelry Company-SJC kept the gold price unchanged at 119.1 million VND for buying and 121.1 million VND for selling. Phu Quy Company also kept the buying price at 118.4 million VND, and the selling price at 121.1 million VND...

Meanwhile, Phu Quy Company reduced each tael of gold ring by 200,000 VND, down to 114.8 million VND for buying and 117.8 million VND for selling; SJC Company bought at 114.6 million VND and sold at 117.2 million VND... SJC gold bar price is 15.3 million VND/tael higher than the world price, and gold ring price is about 11.5 million VND/tael higher.

SJC gold bar price remains above 121 million VND/tael. PHOTO: TX

The world gold price increased slightly by 6 USD/ounce to 3,331 USD after a sharp decline in the US trading session (night of July 15). Previously, the precious metal fell sharply from 3,365 USD to 3,322 USD due to investors' sell-off activities. The recently released US consumer price index (CPI) report is said to have no impact on inflation. US economic data this week showed that the CPI in June increased by 2.7% compared to the same period last year, in line with market expectations and compared to the 2.4% increase in the CPI report in May. The core CPI (excluding food and energy) increased by 2.9% compared to the same period last year, also in line with expectations. The market did not have any significant immediate reaction to the data, but the USDX increased in price and bond yields increased due to inflation expectations that are stable enough for the Fed to keep interest rates unchanged and not rush to cut interest rates.

Gold needs a new catalyst as ETF inflows slow and net futures purchases decline, but central bank buying remains and the upside momentum remains, said Ewa Manthey, commodity strategist at ING. The uncertain economic environment and the need to diversify portfolios away from the US dollar will encourage central banks to continue buying gold into 2025./.

According to Thanh Nien Newspaper

Source: https://thanhnien.vn/gia-vang-hom-nay-1672025-vang-mieng-sjc-cao-hon-the-gioi-tren-15-trieu-dong-luong-185250716083803895.htm

Source: https://baolongan.vn/gia-vang-hom-nay-16-7-vang-mieng-sjc-cao-hon-the-gioi-tren-15-trieu-dong-luong-a198854.html