Gold price closing on July 29, 2025: Gold price has strange developments but not worrying

Domestic gold price closed on July 29, 2025

As of 4:30 p.m. on July 29, 2025, the domestic gold bar price increased slightly. Specifically:

DOJI Group listed the price of SJC gold bars at 119.7-121.2 million VND/tael (buy - sell), an increase of 100,000 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 119.7-121.2 million VND/tael (buy - sell), an increase of 100 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 120.2-121.2 million VND/tael for buying and selling. Compared to yesterday, the gold price decreased by 100 thousand VND/tael for buying and increased by 100 thousand VND/tael for selling.

SJC gold price at Bao Tin Minh Chau Company Limited was traded by the enterprise at 119.7-121.2 million VND/tael (buy - sell), the price increased by 100 thousand VND/tael in both buying and selling directions compared to yesterday.

SJC gold price at Phu Quy is traded by businesses at 119.2-121.2 million VND/tael (buy - sell), gold price increased 400 thousand VND/tael in buying direction - increased 100 thousand VND/tael in selling direction compared to yesterday.

As of 4:30 p.m. on July 29, 2025, the price of 9999 Hung Thinh Vuong round gold rings at DOJI was listed at 115.9-118.4 million VND/tael (buy - sell); the price decreased by 100,000 VND/tael in both buying and selling directions compared to yesterday.

Bao Tin Minh Chau listed the price of gold rings at 116.3-119.3 million VND/tael (buy - sell); an increase of 100 thousand VND/tael in both buying and selling directions compared to yesterday.

The latest gold price list today, July 29, 2025 is as follows:

World gold price today July 29, 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 29, Vietnam time, was 3,326.38 USD/ounce. Today's gold price decreased by 6.6 USD/ounce compared to yesterday. Converted according to the USD exchange rate at Vietcombank (26,400 VND/USD), the world gold price is about 109.31 million VND/tael (excluding taxes and fees). Thus, the price of SJC gold bars is 11.89 million VND/tael higher than the international gold price.

Gold prices recovered after initial excitement over the US-EU trade deal faded, while investors turned their attention to the upcoming policy meeting of the US Federal Reserve (Fed) for clues on the future path of interest rates.

Specifically, spot gold prices fell 0.2%, recovering since hitting their lowest level since July 9 yesterday. Meanwhile, US gold futures also rose 0.5% to $3,325.40.

Currently, the gap between domestic and international gold prices has not been narrowed due to the unstable supply of gold bars. The market is waiting for a new gold management policy from the government, with the hope that SJC gold prices will decrease to get closer to international prices.

Market sentiment is adjusting after some recent trade deals, but there are still many hurdles ahead, said Ricardo Evangelista, senior analyst at brokerage firm ActivTrades. If the US and China fail to reach an agreement and do not extend the negotiation period, risks could return, leading to global economic uncertainty that could have a major impact on investor sentiment.

The European Union (EU) and the United States announced a tariff deal on Sunday that will see most EU exports to the US subject to a 15% tariff. The move comes nearly three months after the UK imposed a basic 10% tariff. However, investors remain concerned about the negative impact of the deal, especially the possibility that high tariffs will remain in place, which could hurt growth and inflation.

Gold is often seen as a safe haven asset during times of political and financial uncertainty. Meanwhile, top economic officials from the United States and China met for more than five hours in Stockholm to resolve long-standing economic differences. The two sides are trying to extend the ceasefire for another three months.

Attention now turns to the Fed's two-day policy meeting, which begins later in the day. Interest rates are expected to remain unchanged, but investors will be closely watching statements to gauge when the Fed might cut rates next.

Besides gold prices, spot silver prices held steady at $38.18 an ounce, while platinum fell 0.6% to $1,382.10 and palladium edged down 0.4% to $1,241.

Gold price forecast

According to Peter Grant, an expert from Zaner Metals, technical analysis shows that gold prices are likely to find important support around $3,300/ounce. He emphasized that the upcoming decision of the Fed on interest rates and monetary policy will greatly affect the trend of gold.

Currently, gold prices are fluctuating between $3,332 and $3,342 per ounce, down slightly from the high of nearly $3,360 last week. Technically, the market is forming a triangle pattern with a top of $3,440 and a support bottom around $3,300 per ounce.

Experts recommend that investors should be cautious and only buy when prices correct down with a long-term vision. Gold is still considered a safe haven asset in a volatile market, and each price drop opens up accumulation opportunities for those who are patient.

Daniel Pavilonis of RJO Futures said that gold is in a short-term correction phase but still maintains a long-term uptrend as fundamentals remain supportive. Similarly, expert Jim Wyckoff of Kitco Metals said that the market is under profit-taking pressure after a strong rally, but demand for shelter remains high due to geopolitical risks and inflation.

HSBC analyst James Steele said the gold rally is weakening due to lower investment demand, but demand from central banks remains strong, which should support prices in the medium to long term. He forecasts an average gold price of $3,215 an ounce in 2025 and $3,125 an ounce in 2026, but warned of the risk of a deep correction if market sentiment deteriorates.

Other experts such as Edward Meir (Marex) and Suki Cooper (Standard Chartered) believe that the weak USD and the US-China trade tensions will continue to support gold. However, the recent US-EU trade deal may cause gold to fluctuate slightly in the short term.

Experts Aakash Doshi (State Street) and Nicholas Colas (DataTrek) said that 2025 could mark a new bull cycle for gold, with an increase of about 29% compared to the beginning of the year, outperforming the stock market.

Demand from central banks and global investors continues to be key, even as stocks rally. The shift to alternative assets such as gold is expected to continue in the medium term.