Gold price today July 17: Domestically stable, world fluctuates strongly

Domestic gold prices remained unchanged despite strong fluctuations in precious metals worldwide. The high price of SJC gold bars was reduced to 14.6 million VND/tael.

Saigon Jewelry Company - SJC did not change the price of gold bars, buying at 118.6 million VND, selling at 120.6 million VND. Doji Group bought at 118.6 million VND, selling at 120.6 million VND. Phu Quy Company bought at 117.9 million VND, selling at 120.6 million VND... Meanwhile, only Mi Hong Company slightly increased the buying price of SJC gold bars by 200,000 VND per tael, to 119.6 million VND, while the selling price remained at 120.6 million VND. The price of gold rings also did not change at the beginning of the day. SJC Company bought at 114.2 million VND, selling at 116.7 million VND; Phu Quy Company bought at 114.6 million VND, selling at 117.6 million VND; Doji Group bought at 115.6 million VND, selling at 118.1 million VND...

SJC gold bar price remains unchanged. PHOTO: TX

Since the information on the draft amendments and supplements to Decree 24 on gold market management was announced, the domestic gold market has fluctuated quite slowly. This has narrowed the gap between SJC gold bars and the world price to 14.6 million VND/tael instead of more than 15 million VND/tael before; gold rings are 10.7 - 12 million VND/tael higher.

The world gold price fell by 6 USD/ounce to 3,341 USD. In the US trading session (night of July 16), the world gold price increased sharply from 3,322 USD per ounce to 3,371 USD and then quickly dropped to 3,340 USD. The gold price skyrocketed after the news that President Trump was about to fire the Chairman of the US Federal Reserve (Fed) Jerome Powell. However, the precious metal later fell sharply when Mr. Trump said he had no intention of firing Mr. Powell immediately.

The Fed speculation comes amid mixed economic data, keeping inflation concerns at the forefront of market participants' minds. The US Bureau of Labor Statistics reported that the producer price index (PPI) was unchanged in June, below the consensus estimate of a 0.2% monthly increase. Similarly, the core PPI, which excludes volatile items, was also unchanged, again missing expectations./.

According to Thanh Nien Newspaper

Source: https://thanhnien.vn/gia-vang-hom-nay-1772025-trong-nuoc-dung-yen-the-gioi-bien-dong-manh-185250717084830016.htm

Source: https://baolongan.vn/gia-vang-hom-nay-17-7-trong-nuoc-dung-yen-the-gioi-bien-dong-manh-a198913.html