Gold price this afternoon July 16, 2025: Domestic and world gold prices fell sharply, being sold off massively in the market

Domestic gold price today July 16, 2025

As of 4:30 p.m. on July 16, 2025, the domestic gold bar price has decreased sharply compared to yesterday. Specifically:

DOJI Group listed the price of SJC gold bars at 118.6-120.6 million VND/tael (buy - sell), a decrease of 500 thousand VND/tael in both buying and selling directions compared to yesterday.

At the same time, the price of SJC gold bars was listed by Saigon Jewelry Company Limited - SJC at 118.6-120.6 million VND/tael (buy - sell), a decrease of 500 thousand VND/tael in both buying and selling directions compared to yesterday.

At Mi Hong Jewelry Company, the price of Mi Hong gold at the time of survey was listed at 119.6-120.6 million VND/tael for buying and selling. Compared to yesterday, the gold price decreased by 400 thousand VND/tael for both buying and selling.

SJC gold price at Bao Tin Minh Chau Company Limited was traded by the enterprise at 118.6-120.6 million VND/tael (buy - sell), a decrease of 500 thousand VND/tael in both buying and selling directions compared to yesterday.

SJC gold price at Phu Quy is traded by businesses at 117.9-120.6 million VND/tael (buy - sell), gold price decreased 500 thousand VND/tael in both buying and selling directions compared to yesterday.

As of 4:30 p.m. on July 16, 2025, the price of 9999 Hung Thinh Vuong round gold rings at DOJI was listed at 115.6-118.1 million VND/tael (buy - sell); the price remained the same for buying - decreased by 500,000 VND/tael for selling compared to yesterday.

Bao Tin Minh Chau listed the price of gold rings at 115.3-118.3 million VND/tael (buy - sell); the gold price decreased by 500 thousand VND/tael in both buying and selling directions compared to yesterday.

The latest gold price list today, July 16, 2025 is as follows:

World gold price today July 16, 2025 and world gold price fluctuation chart in the past 24 hours

According to Kitco, the world gold price recorded at 4:30 p.m. on July 16, Vietnam time, was 3,341.17 USD/ounce. Today's gold price decreased by 21.27 USD/ounce compared to yesterday. Converted according to the USD exchange rate at Vietcombank (26,330 VND/USD), the world gold price is about 109.52 million VND/tael (excluding taxes and fees). Thus, the price of SJC gold bars is 11.08 million VND/tael higher than the international gold price.

Last night, the world gold price suddenly increased sharply due to the increased risk aversion when the market entered the beginning of the week. The demand for precious metals such as gold pushed the price up. However, the increase did not last long because many investors quickly took profits after the price increased.

Specifically, spot gold price decreased by 0.63%, while gold futures in the US increased slightly by 0.18%, reaching 3,340.72 USD/Ounce.

The dollar index fell from a one-month high, making gold cheaper for investors using other currencies. The yield on 10-year US government bonds also fell from a multi-week high.

"Many countries are still negotiating with the US on tariffs. The market is still very uncertain, causing many people to seek safe assets like gold," said Brian Lan, CEO of GoldSilver Central (Singapore).

Gold prices are under pressure to fall after receiving two important reports from the world's largest economy, making many investors more cautious.

According to the latest report from the New York branch of the Federal Reserve Bank of the United States (Fed), the Empire State index in July jumped from -16 to 5.5 points, moving into positive territory for the first time since February. This figure far exceeded the forecast of experts, which only expected a level of -9.

As soon as this information was announced at 8:30 p.m. on July 15 (Vietnam time), the spot gold price immediately dropped sharply. This shows that when the US economy shows signs of strengthening, gold prices often decrease due to a decrease in demand for safe havens.

At the same time, the US Bureau of Labor Statistics announced that the consumer price index (CPI) in June increased by 0.3% compared to the previous month, higher than the 0.1% in May. Compared to the same period last year, inflation reached 2.7%, exceeding the forecast of 2.6%.

Besides gold, spot silver prices rose 0.5% to $37.88 an ounce. Platinum rose 0.3% to $1,376.75, while palladium edged down 0.1% to $1,204.97.

Gold price forecast

Currently, gold prices are caught between two factors: on one side, the demand for safe havens weakened due to the recovery of the US economy, on the other side, inflationary pressures still remain. This makes it difficult for gold to overcome the important resistance level at 3,400 USD/ounce.

According to experts, only when the Fed officially announces a rate cut will gold have a chance to increase sharply and challenge the historical peak set in April. Meanwhile, the market still needs clearer signals about monetary policy and global economic trends.

Despite the sharp decline, gold prices are still supported by uncertainties in the global market. One of the main reasons is the trade tensions between the US and many other countries.

In addition, relations between the US and Russia also became more tense after the Trump administration announced that it would provide weapons to Ukraine through NATO and impose a 100% tax on countries importing oil and gas from Russia.

Although the US Federal Reserve (Fed) did not cut interest rates in July as many expected, the market still expects such a move to happen in September, even with recent inflation data rising. Mr. Chris Zaccarelli, chief investment officer at Northlight Asset Management, said that although US inflation has not increased too much, the country's economy still has many potential risks.

Gold is currently well supported at around $3,300 an ounce. However, experts say that gold needs a stronger boost to break above $3,400 and move towards challenging the historic peak of $3,500 an ounce. A rate cut from the Fed is seen as the most important factor that can help gold prices rise again.

US Treasury Secretary Scott Bessent, who may be nominated by President Trump to be the next Fed Chairman, said that it is not necessary to rely too much on a single inflation figure. According to him, it is important to assess the overall trend, and currently inflation does not show signs of accelerating.

Mr. Bessent also emphasized that the Fed has made many mistakes in forecasting in the past, and this time may be no exception. This shows that monetary policy in the coming time still has many uncertain factors that can affect the gold market.