Specifically, at 9:20 a.m., Saigon Jewelry Company (SJC), DOJI Group listed the price of gold bars at 119.7 - 121.2 million VND/tael (buy - sell), down 300,000 VND/tael in both buying and selling compared to yesterday's closing price.
Similarly, Bao Tin Minh Chau Company listed the price of gold bars and gold rings at 116 - 119 million VND/tael (buy - sell), down 300,000 VND/tael in both buying and selling compared to yesterday's closing price.
Saigon Jewelry Company (SJC) listed the price of gold rings at 115.8 - 118.3 million VND/tael (buy - sell), down 300,000 VND/tael in both buying and selling compared to yesterday's closing price.
DOJI Group listed the price of gold rings at 116 - 118.5 million VND/tael (buy - sell), down 100,000 VND/tael in both buying and selling compared to yesterday's closing price.
In the world market, gold prices fell more than 1% in the trading session on July 30 after the US Federal Reserve (Fed) kept interest rates unchanged and did not give a clear signal about when it might adjust.
At the same time, strong US economic data further reduced the appeal of non-yielding assets like gold.
At 02:08 (Vietnam time), spot gold price decreased by 1.5% to 3,275.92 USD/ounce. US gold futures price at the end of the session decreased by 0.8% to 3,352.8 USD/ounce.
The Federal Open Market Committee (FOMC) voted 9-2 to keep the benchmark interest rate unchanged at 4.25-4.5%. The decision did not provide a clear signal on when the rate would be cut and was met with dissent from two members of the Fed's Board of Governors.
Fed Chairman Jerome Powell said the central bank has not made any decisions about its September 2025 meeting, despite many investors expecting that to be when the Fed begins cutting interest rates later this year. He said downside risks to the labor market are becoming more apparent.
Independent metals trader Tai Wong said Powell’s continued emphasis on inflation over concerns about the labor market has added to the pressure on gold, although the precious metal remains at the bottom of its trading range. If gold corrects further, he said, it could attract buying interest, as the factors supporting gold such as uncertainty, high US debt and de-dollarization remain strong.
The ADP National Employment Report showed that private payrolls in the US increased more than expected in July 2025, although there were still signs that the labor market was slowing.
Nitesh Shah, a commodity strategist at WisdomTree, said that the more the Trump administration criticizes current policies, the higher the possibility of gold prices rising.
Gold prices tend to rise in low interest rate environments and during times of uncertainty.
Source: https://doanhnghiepvn.vn/kinh-te/fed-giu-nguyen-lai-suat-gia-vang-mieng-giam-300-000-dong-luong/20250731095244383
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