Gold prices rise, catching the wave from tensions in the Golan Heights, more banks change conditions for buying SJC gold online

Gold price today July 30, 2024, gold price increased, received support when geopolitical risks escalated in the Middle East. Gold ring price increased, Vietcombank joined the group of banks adding conditions to buy JSC gold online.

LIVE UPDATE TABLE OF GOLD PRICE TODAY 7/30 AND EXCHANGE RATE TODAY 7/30

1. SJC - Updated: 07/29/2024 08:27 - Website time of supply - ▼ / ▲ Compared to yesterday.
Type	Buy	Sell
SJC 1L, 10L, 1KG	77,500	79,500
SJC 5c	77,500	79,520
SJC 2c, 1c, 5 phan	77,500	79,530
SJC 99.99 gold ring 1 chi, 2 chi, 5 chi	75,600	77,050
SJC 99.99 gold ring 0.3 chi, 0.5 chi	75,600	77,150
Jewelry 99.99%	75,500	76,550
Jewelry 99%	73,792	75,792
Jewelry 68%	49,709	52,209
Jewelry 41.7%	29,575	32,075

Update gold price today 7/30/2024

Domestic gold price fluctuated on July 29.

On the morning of July 29, while the price of SJC gold bars remained at the listed price compared to the closing price of the weekend, the price of gold rings increased in both buying and selling prices.

Specifically, Saigon Jewelry Company (SJC), DOJI Jewelry Group, Phu Quy Jewelry Group, and DOJI Jewelry Group all announced the same selling price of SJC gold at 77.5 - 79.5 million VND/tael (buy - sell), keeping the listed price unchanged from the previous closing price.

While the price of SJC gold bars is stable, the price of gold rings increases in both buying and selling directions.

Accordingly, DOJI Gold and Gemstone Group listed the price of gold rings at 75.8 - 77.1 million VND/tael (buy - sell), an increase of 300 thousand VND/tael in both buying and 100 thousand VND/tael in selling compared to the closing price yesterday.

At Saigon Jewelry Company (SJC), the price of gold rings is also listed at 75.55 - 77.15 million VND/tael (buy - sell), an increase of 50 thousand VND/tael for buying and an increase of 150 thousand VND/tael for selling compared to the closing price yesterday.

Gold price today July 30, 2024: Gold price increases, catching the wave from the Golan Heights missile attack, more banks change conditions for buying SJC gold online. (Source: Reuters)

Previously, regarding the management of the gold market, at the press conference for the second quarter of 2024 organized by the State Bank, Deputy Governor Dao Minh Tu said: The State Bank selling gold directly to people through Big 4 banks and SJC Company is only a short-term solution. In the long term, the gold market needs a fundamental and appropriate solution.

The State Bank leader assessed: “The State Bank is working with other ministries and branches to research and have appropriate policies in the coming time to manage the gold market. Whatever belongs to the state management role, we will definitely continue to manage, and whatever belongs to the market, we will create conditions for the market to be open.

In principle, Decree 24/2012/ND-CP will be amended to ensure effective management, prevent negativity in the gold market, and stabilize the gold market. At the same time, the State Bank is also inspecting speculative activities and manipulation of the gold market.

In the latest announcement, Vietcombank said it will apply additional policies to customers who register to buy SJC gold bars online at this bank.

Specifically, from July 29, people who want to register to buy gold online at Vietcombank must have an active payment account opened at this bank. In case people want to buy gold bars at the bank but do not have a payment account at the bank, they can open an online account or go to the transaction counter for instructions from the bank.

Previously, Agribank and BIDV also applied this policy to customers buying gold bars online. BIDV alone requires customers buying SJC gold bars online to have an account at BIDV and the amount of money in the account at the time of registering to buy gold must be enough to pay for the registered amount of gold.

VietinBank, the remaining unit of the four banks assigned by the State Bank to sell gold bars, does not require customers to pay with this bank's account when buying SJC gold bars, but can use all other bank accounts.

However, customers also need to meet the requirements set by this bank as well as the other 3 banks such as successfully placing an online order, arriving at the correct time and place of registration, bringing the identification documents declared when registering and these documents must still be valid.

Summary of SJC gold bar prices at major domestic trading brands at closing times of trading session on the afternoon of July 29:

Saigon Jewelry Company: SJC gold bars 77.5 - 79.5 million VND/tael; SJC gold rings 75.6 - 77.05 million VND/tael.

Doji Group: SJC gold bars 77.5 - 79.5 million VND/tael; 9999 round rings (Hung Thinh Vuong): 75.85 - 77.10 million VND/tael.

PNJ system: SJC gold bars 77.5 - 79.5 million VND/tael; PNJ 999.9 plain gold rings: 75.7 - 77.09 million VND/tael.

Phu Quy Gold and Silver Group: SJC gold bars: 77.5 - 79.5 million VND/tael; Phu Quy 999.9 round gold rings: 75.8 - 77.1 million VND/tael.

SJC gold price at Bao Tin Minh Chau is listed at: 77.5 - 79.5 million VND/tael; Rong Thang Long gold brand is traded at 75.88 - 77.08 million VND/tael; jewelry gold price is traded at 75.05 - 76.95 million VND/tael.

According to the World & Vietnam Newspaper , information on Kitco News , as of 4:51 p.m. Vietnam time on July 29, the world gold price was listed at 2,390.3 USD/ounce, an increase of 3.2 USD/ounce compared to the previous trading session.

Converted according to the USD price at Vietcombank on July 29, 1 USD = 25,455 VND, the world gold price is equivalent to 73.31 million VND/tael, 6.19 million VND/tael lower than the selling price of SJC gold.

According to Reuters, world gold prices continued to increase in the afternoon trading session on July 29 thanks to escalating tensions in the Middle East and the prospect of the US Federal Reserve (Fed) lowering interest rates next September.

Gold has gained 3% in July after hitting a record high of $2,483.60 on July 17 on growing optimism that the Fed will ease monetary policy in September.

Following an upbeat June inflation report, markets are betting that the US central bank will lay the groundwork for a September interest rate cut at its policy meeting on Wednesday (July 31).

Markets also received support as geopolitical risks escalated in the Middle East following a rocket attack on the Israeli-occupied Golan Heights.

On the physical demand side, gold consumption in China, the world's largest user, fell 5.6% in the first half of 2024 as jewelry demand fell 26.7% amid high prices; however, purchases of gold bars and coins rose 46%.

“Chinese prices fell last week to below international prices, reflecting a sharp drop in jewellery buyers’ purchasing power in the face of rising prices,” said independent analyst Ross Norman .

In the current environment, world gold prices may maintain an upward trend tomorrow morning while SJC gold prices are stable.

Source: https://baoquocte.vn/gia-vang-hom-nay-3072024-gia-vang-di-len-don-song-tu-cang-thang-o-cao-nguyen-golan-them-ngan-hang-doi-dieu-kien-mua-vang-sjc-online-280573.html