Gold price on July 18: SJC gold bars suddenly increased by more than 3 million VND/tael after more than 1 month of stagnation

The world gold price today (July 18) slightly adjusted down to 2,460.3 USD/ounce as investors took profits after the gold price reached a new record high of 2,487.4 USD yesterday. Domestically, the price of SJC gold bars suddenly increased by more than 3 million VND to 80 million VND/tael; SJC gold rings increased to 77.5 million VND/tael.

In the context of the world gold price continuously increasing, conquering new records, this morning, the price of SJC gold bars suddenly increased by more than 3 million VND to 80 million VND/tael, while gold rings also increased sharply to 77.5 million VND/tael.

Gold price statistics of Dragon Viet Online Service Joint Stock Company VDOS - Updated at 9:30 am on July 18.

At 9:30 a.m. on July 18, DOJI gold bar prices in Hanoi and Ho Chi Minh City were listed at VND78.5 million/tael for buying and VND80 million/tael for selling, up VND2.5 million and VND3.02 million respectively compared to the previous session. The difference between buying and selling was VND1.5 million.

This brand listed the buying and selling price of Doji Hung Thinh Vuong 9999 gold ring at 76.35-77.55 million VND/tael.

Saigon Jewelry Company listed SJC gold price The buying and selling prices were at 78.5-80 million VND/tael, up 2.52 million VND and 3.02 million VND respectively compared to yesterday's closing price. Meanwhile, the price of SJC 9999 ring gold was traded at 76 million VND/tael for buying and 77.5 million VND/tael for selling, up 20,000 VND (buying) and 620,000 VND (selling) compared to the previous closing price.

PNJ Gold bought at 76.1 million VND/tael and sold at 76.98 million VND/tael, down 200,000 VND and 20,000 VND respectively compared to the previous session.

As of 9:30 a.m. on July 18 (Vietnam time), the world gold price slightly decreased by 7.8 USD compared to the previous session to 2,460.3 USD/ounce.

World gold prices fell slightly this morning as some traders took profits after the precious metal hit an all-time record high overnight of $2,487.40 an ounce.

The outlook for gold remains bullish, bolstered by the high likelihood of a rate cut by the US Federal Reserve in September.

World gold price chart on July 18. (Photo: kitco.com)

CME Group's FedWatch interest rate tracker shows a 98.1% chance the Fed will begin to pivot monetary policy in September.

“Amid geopolitical tensions and rising sanctions, we are seeing increased demand for physical assets, including gold. The gold rally has come sooner than expected,” said JP Morgan Shearer, Head of Base and Precious Metals Strategy.

Any pullback in the coming months would give investors “a chance to start positioning for further upside” before the Fed cuts interest rates, Mr. Shearer said.

According to the latest estimates from JP Morgan Research, gold price It is now expected to reach $2,500/ounce by the end of 2024 and $2,600/ounce by 2025.

This morning, the USD-Index fell slightly to 103.79 points; the yield on 10-year US Treasury bonds fell to 4.175%; US stocks were divided, profit-taking from S&P500 and technology stocks turned to traditional stocks and small-cap companies; oil prices recovered to 85.37 USD/barrel for Brent oil and 81.83 USD/barrel for WTI oil.

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