【Vietnam】Gold Prices Today, July 19: Gold Fluctuates Around $4,000 Per Ounce; What’s Next?

(Analysis) – Gold prices continue to fluctuate at low levels, pressured by a strong US dollar and expectations that the Federal Reserve will keep interest rates high. However, many experts still view the $4,000 per ounce mark as a key support zone for the market.
According to data from Kitco, the gold price is currently around $4,017 to $4,019 per ounce. Compared to 30 days ago, the price of the precious metal has dropped by about $301 per ounce, a decline of 6.7%.
Domestically, SJC gold is quoted at Bao Tin Manh Hai at 144 – 147 million VND/ounce (buy price – sell price), a decrease of 700,000 VND/ounce.
The price of gold rings at Bao Tin Manh Hai is around 14.1 million VND per tael (approximately 3.75 grams).
24-karat gold jewelry is traded at a price of 14 to 14.5 million VND per tael (approximately 37.5 grams).

Some products, such as 24-karat gold nuggets, are traded at prices around 14.2 to 14.6 million VND per tael (approximately 37.5 grams).

In the market, the price of gold bars at DOJI and SJC is quoted at 144.5 million VND/ounce (buy price) and 147.5 million VND/ounce (sell price), an increase of 900,000 VND/ounce compared to the previous session.
The price of gold rings at SJC is currently at 143 – 146.5 million VND/ounce (buy price – sell price), an increase of 900,000 VND/ounce.
Gold prices continued to trade near their lows as tensions between the US and Iran escalated, driving up energy prices, heightening inflation concerns, and reinforcing expectations that the Fed will keep rates high or further tighten monetary policy.

According to Gaffney, the gold price has fallen below $4,000 per ounce four times in the past four weeks, but each time it quickly recovered. This suggests that the $4,000 per ounce mark remains an important psychological support.
He predicted that if oil prices do not continue to rise sharply and US inflation improves, expectations of Fed rate hikes will ease, thus creating conditions for a recovery in gold prices.
The results of Kitco News’ weekly gold survey show that Wall Street experts remain cautious about the short-term outlook for gold prices, while retail investors remain divided after gold repeatedly tested the $4,000 per ounce support level.

Rich Checkan, President and CEO of Asset Strategies International, leans toward a more positive scenario. In his view, the fact that gold has repeatedly traded above $4,000 per ounce indicates that this is an important price base and could pave the way for a recovery, even if the market is not yet ready for a sustained upward trend.