Update on the closing price of gold on July 19: Profit-taking wave

Update SJC gold price

Domestic SJC gold price closed on July 19, 2024.

SJC gold bar price recorded at DOJI Group. Unit: Million VND/tael. Chart: Khuong Duy

Price of round gold ring 9999

As of 5:30 p.m. today, the price of 9999 Hung Thinh Vuong round gold rings at DOJI is listed at 76.10-77.35 million VND/tael (buy - sell); down 400,000 VND/tael for buying and down 350,000 VND/tael for selling.

Saigon Jewelry Company listed the price of gold rings at 75.8-77.2 million VND/tael (buy - sell); down 300,000 VND/tael for both buying and selling.

Bao Tin Minh Chau listed the price of gold rings at 76.08-77.38 million VND/tael (buy - sell); down 200,000 VND/tael for both buying and selling.

In recent sessions, the price of gold rings has often fluctuated in the same direction as the world market. Investors can refer to the world market and expert opinions before making investment decisions.

World gold price

As of 5:00 p.m. today, the world gold price listed on Kitco was at 2,411.6 USD/ounce, down 52.4 USD/ounce compared to the close of yesterday's trading session.

Gold Price Forecast

World gold prices plummeted amid an increase in the USD index. Recorded at 5:00 p.m. on July 19, the US Dollar Index, which measures the greenback's fluctuations against six major currencies, was at 104.090 points (up 0.21%).

Despite the sharp drop in gold, the precious metal is likely to maintain its four-week winning streak.

Investors are taking profits but gold prices look positive in the medium term, amid political uncertainty and a possible Fed rate cut approaching, said Kelvin Wong, senior market analyst at OANDA in Asia Pacific.

The official announcement of the US Federal Reserve's monetary easing policy is expected to boost gold prices, with prices likely to hit a record $3,000 an ounce by the fall of 2024, according to Julia Khandoshko, CEO of European brokerage Mind Money.

According to Russell Shor, senior market expert at multi-asset trading platform Tradu, gold prices will increase in the long term due to the Fed's preparations to cut interest rates, as well as the belief that inflation is under control. In addition, geopolitical instability and demand from central banks are also creating a positive outlook for gold prices in the medium and long term.

Source: https://laodong.vn/tien-te-dau-tu/cap-nhat-gia-vang-chot-phien-197-lan-song-chot-loi-1368849.ldo