Domestic gold ring prices early this morning were adjusted down by brands following developments in the world market.
Buy (VND/tael) | Increase/decrease | Sell (VND/tael) | Increase/decrease | |
SJC | 114,400,000 | - 300,000 | 116,900,000 | - 300,000 |
115,800,000 | - 300,000 | 118,300,000 | - 300,000 |
SJC and Doji gold ring price list updated morning of July 31
Opening the trading session on July 31, the price of SJC 9999 gold decreased by 300 thousand VND/tael in both buying and selling compared to the closing price of yesterday's trading session, reaching 119.7-121.2 million VND/tael (buying - selling).
Buy (VND/tael) | Increase/decrease | Sell (VND/tael) | Increase/decrease | |
SJC HCMC | 119,700,000 | - 300,000 | 121,200,000 | - 300,000 |
Doji Hanoi | 119,700,000 | - 300,000 | 121,200,000 | - 300,000 |
Doji HCMC | 119,700,000 | - 300,000 | 121,200,000 | - 300,000 |
SJC and Doji gold bar price list updated on the morning of July 31
World gold prices fell sharply after the Fed kept interest rates unchanged. At 9:07 a.m. today (July 31, Vietnam time), the world spot gold price was at 3,294.3 USD/ounce, down 17.7 USD/ounce compared to last night.
On the morning of July 31 , the world gold price converted to USD bank price was over 105.7 million VND/tael, including tax and fees, about 15.5 million VND/tael lower than the domestic gold price.
As of 7:45 p.m. on July 30 (Vietnam time), the spot gold price today on the international market was at $3,312/ounce. Gold for August 2025 delivery on the Comex New York floor was at $3,315/ounce.
The world gold price on the night of July 30 was about 26.2% higher (equivalent to 687 USD/ounce) than at the end of 2024. The world gold price converted to the bank USD price was 106.4 million VND/tael, including taxes and fees, about 15.1 million VND/tael lower than the domestic gold price as of the end of the afternoon session on July 30.
Gold prices on the New York Stock Exchange on the evening of July 30 (Vietnam time) turned sharply down in the context of the US announcing impressive economic growth, erasing the fear of economic recession that has haunted investors for many months.
The positive economic signals immediately sent the US dollar soaring, thereby putting pressure on the gold market. The precious metal's appeal as a safe haven quickly declined.
The sharp drop in world gold prices could put pressure on SJC. Photo: NH
Specifically, the US Department of Commerce has just released preliminary data showing that the US GDP in the second quarter increased by 3%, making up for the 0.5% decline in the first quarter. The GDP growth rate just announced is much higher than the 2.5% increase forecast by economists.
“The increase in real GDP in the second quarter mainly reflected a decline in imports and an increase in consumer spending. These fluctuations partly offset a decline in investment and exports,” the report said.
Gold prices fell sharply amid a surge in the US dollar. The DXY index - measuring the greenback's performance against a basket of six major currencies - rose 0.61% to 99.49 points.
The USD also increased in value due to the exhaustion of short selling of the US greenback, thereby creating a huge demand to buy back USD to pay for previous short contracts.
Domestically, gold prices reversed and increased sharply. Specifically, by the end of the trading session on July 30, the price of 9999 gold bars at SJC and Doji was listed at 120-121.5 million VND/tael (buy - sell), an increase of 300,000 VND in both directions compared to the previous session.
SJC announced the price of gold rings type 1-5 at only 114.7-117.2 million VND/tael (buy - sell), an increase of 300,000 VND in both buying and selling prices. Doji announced the price of gold rings type 1-5 at only 116.1-118.6 million VND/tael (buy - sell), an increase of 200,000 VND in both prices.
Gold Price Forecast
It can be seen that gold prices have recently been under a lot of downward pressure. Not only has geopolitical tensions decreased, but recently the Donald Trump administration has continuously announced trade agreements with many countries around the world.
A strong recovery of the USD is a contributing factor in pushing gold prices down.
However, that is short-term. Gold may soon recover as the US dollar remains in a downtrend. When the Federal Reserve (Fed) returns to its monetary easing trend, the greenback will fall.
A strong US economy could boost the dollar in the short term, but overall, the Trump administration wants interest rates to remain low, around 2% instead of the current 4.5%/year. At that time, the dollar will hardly rise. Efforts by many countries to reduce their dependence on the dollar could also drag the greenback down.
The positive economic data was released just before the two-day monetary policy meeting of the Federal Open Market Committee (FOMC) ended in the early morning of July 31.
With the new developments, the possibility of the Fed cutting interest rates at the next meeting is very high. As of 8:30 p.m. on July 30 (Vietnam time), according to signals from the CME FedWatch tool, the market is betting on a 57.9% chance that the Fed will cut interest rates by 0.25 percentage points on September 17, with a 1.8% chance that the Fed will cut by 0.5 percentage points. There is only a 40.2% chance that the US central bank will keep interest rates at 4.25-4.5%/year.
Gold prices are also expected to benefit from unusual policy developments from the Trump administration.
On the evening of July 30, US President Donald Trump announced a 25% tariff on India, starting August 1, because the country imposes "among the highest in the world" tariffs on the US and as a penalty for buying energy and military equipment from Russia.
Gold prices are under pressure, the US move determines the 'new wave'World gold prices are under pressure to decrease sharply when the US reaches trade agreements, US stocks hit records and the Fed may keep interest rates unchanged. Will gold continue to plummet and SJC will return to the 119-120 million VND/tael range?
Source: https://vietnamnet.vn/gia-vang-hom-nay-31-7-2025-vang-lao-doc-sau-tin-hieu-bat-ngo-sjc-them-ap-luc-2427200.html
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