Gold Prices in Vietnam Rise with World Price Amid Fed Decision

The price of gold in Vietnam has fluctuated this morning, July 30. Phu Quy Jewelry Group listed SJC gold bars at a price range of 137.1-141.1 million VND/tael (buying - selling), down 400,000 VND/tael from the previous day.

The buying and selling difference is 4 million VND/tael, according to Phu Quy Jewelry Group. DOJI listed SJC gold bars at a price range of 137.5-141.5 million VND/tael (buying - selling), unchanged from yesterday's prices.

Meanwhile, the price of 9999 gold rings has also decreased by 400,000 VND/tael to 137.1-141.1 million VND/tael (buying - selling) at Phu Quy Gold and Gems Group. DOJI listed gold ring prices at a threshold of 138.5-142.5 million VND/tael (buying - selling), remaining unchanged from yesterday.

The world gold price has increased to around 4,102.7 USD/ounce as of this morning, up 64.7 USD from the previous day's closing price. This comes after the US Federal Open Market Committee decided to keep the federal fund interest rate in the range of 3.5-3.75%.

The decision was met with a relief wave for the gold market, as investors had been expecting a possible rate hike by the Fed. However, three members voted against raising interest rates, indicating that monetary tightening is still present. The US economy continues to expand at a steady pace, and inflation remains higher than the target of 2%.