World gold "plummeted" like a brake failure, gold rings decreased slightly

Domestic gold price this afternoon 7/25/2024

At the time of survey at 2:00 p.m. on July 25, 2024, the gold price today, July 25, on the trading floors of some companies is as follows:

The price of SJC gold listed by the gold house is 77.50 million VND/tael for buying and 79.50 million VND/tael for selling.

This afternoon, DOJI listed the price of 9999 gold at 77.50 million VND/tael for buying and 79.50 million VND/tael for selling.

At Mi Hong Gold and Gemstone Company, the price of Mi Hong gold at the time of survey listed the price of SJC gold at 78.50 - 79.50 million VND/tael (buy - sell).

SJC gold price at Bao Tin Minh Chau Company Limited is also traded by the enterprise at 77.70 - 79.50 million VND/tael (buy - sell). Meanwhile, at Bao Tin Manh Hai, it is being traded at 78.80 - 79.50 million VND/tael (buy - sell).

This afternoon, SJC gold bars continued to remain unchanged in terms of buying and selling prices. Currently, the difference between domestic and world gold prices fluctuates around 5.7 million VND/tael.

Meanwhile, the price of gold rings was adjusted in the same direction as the world gold price, reversing to decrease by about 100,000 - 200,000 VND/tael compared to yesterday's session. Specifically, SJC Company currently lists the price of 9999 gold rings at 75.6 - 77.1 million VND/tael. DOJI Group applies the price of 75.8 - 77.15 million VND/tael. Bao Tin Minh Chau lists 75.93 - 77.23 million VND/tael.

The difference between the buying and selling prices of plain rings has decreased to 1.2 - 1.5 million VND/tael (depending on the gold brand). The reduced difference helps reduce risks for the holder.

The central exchange rate listed by the State Bank is 24,265 VND/USD, up 1 VND/USD. The USD price at commercial banks is traded around 25,148 VND/USD for buying and 25,478 VND/USD for selling.

Gold price this afternoon, July 25, 2024. Photo: illustration.

1. DOJI – Updated: 07/25/2024 11:33 – Source website time – ▼ / ▲ Compared to yesterday.
Type	Buy	Sell
AVPL/SJC HN	77,500	79,500
AVPL/SJC HCM	77,500	79,500
AVPL/SJC DN	77,500	79,500
Raw material 9999 – HN	75,200 ▼500K	75,950 ▼350K
Raw materials 999 – HN	75,100 ▼500K	75,850 ▼350K
AVPL/SJC Can Tho	77,500	79,500

2. PNJ – Updated: 07/25/2024 18:00 – Time of the source website – ▼ / ▲ Compared to yesterday.
Type	Buy	Sell
HCMC – PNJ	75,750 ▼100K	77,020 ▼190K
HCMC – SJC	77,500	79,500
Hanoi – PNJ	75,750 ▼100K	77,020 ▼190K
Hanoi – SJC	77,500	79,500
Da Nang – PNJ	75,750 ▼100K	77,020 ▼190K
Da Nang – SJC	77,500	79,500
Western Region – PNJ	75,750 ▼100K	77,020 ▼190K
Western Region – SJC	77,500	79,500
Jewelry gold price – PNJ	75,750 ▼100K	77,020 ▼190K
Jewelry gold price – SJC	77,500	79,500
Gold jewelry price – Southeast	PNJ	75,750 ▼100K
Jewelry gold price – SJC	77,500	79,500
Jewelry gold price – Jewelry gold price	PNJ Ring (24K)	75,750 ▼100K
Jewelry Gold Price – 24K Jewelry	75,700 ▼100K	76,500 ▼100K
Jewelry Gold Price – 18K Jewelry	56,130 ▼70K	57,530 ▼70K
Jewelry Gold Price – 14K Jewelry	43,500 ▼60K	44,900 ▼60K
Jewelry Gold Price – 10K Jewelry	30,570 ▼50K	31,970 ▼50K

World gold price today July 25, 2024 and world gold price fluctuation chart in the past 24 hours

According to Kitco, the world gold price recorded at 2:00 p.m. today, Vietnam time, was at 2,375.91 USD/ounce. Today's gold price decreased by 39.42 USD/ounce compared to yesterday's gold price. Converted according to the current exchange rate at Vietcombank, the world gold price is about 71.784 million VND/tael (excluding taxes and fees). Thus, the price of SJC gold bars is still 5.716 million VND/tael higher than the international gold price.

Gold price fluctuation chart in the last 24 hours

World gold spot stood at 2,375.91 USD/ounce, down more than 39 USD/ounce compared to the same trading session yesterday. The precious metal fell sharply despite the US Dollar also falling.

Investors were surprised by the sharp drop in gold prices while there were still many factors supporting the price increase. Specifically, India recently issued a decision to reduce the gold tax from 15% to 6%. In addition, the demand for gold in China is still considered positive, which helps the gold price increase strongly.

The market is now awaiting the next batch of US economic data, which could influence the timing of a rate cut by the Federal Reserve. The two reports the market is looking forward to this week are the second quarter GDP and the June personal consumption expenditures (PCE) price index.

Gold Price Forecast

In a new forecast, JP Morgan Bank maintained its forecast for world gold prices at an average of $2,500/ounce in 2024 and $2,600/ounce in 2025. The average price also means that gold will at some point exceed the $2,500/ounce threshold.

In 2024, gold will sometimes drop quite low. Therefore, if following this forecast, gold prices may increase sharply in the last months of the year.

Source: https://congthuong.vn/gia-vang-chieu-nay-2572024-vang-the-gioi-tuot-doc-nhu-dut-phanh-vang-nhan-giam-nhe-334725.html