Gold prices stagnate due to the impact of the USD and US economic signals

Illustration photo. Photo: Internet

As of 0:55 a.m. on July 18, Vietnam time, the spot gold price decreased by 0.3% to 3,337.43 USD/ounce, after falling to the session low of 3,309.59 USD/ounce.

In the opposite direction, the price of gold futures in the US ended the session down 0.4%, to 3,345.30 USD/ounce.

According to Mr. Bob Haberkorn, senior market strategist at RJO Futures, after the US released the latest data, the USD and US government bond yields increased together, thereby creating pressure on the gold market.

The 0.3% rise in the US dollar made the precious metal priced in the greenback less attractive to buyers using other currencies.

New data showed the number of people filing for unemployment benefits in the US fell last week, reflecting a stabilisation in the labour market in July.
Meanwhile, US retail sales beat expectations with a 0.6% increase last month, although part of the gain may have come from rising prices due to the impact of tariffs.

Federal Reserve Board member Adriana Kugler said the Fed should not cut interest rates for a while, as the impact of tariffs imposed by the Trump administration begins to affect prices.

On the international trade front, Japan's top trade negotiator met with the US Commerce Secretary to discuss tariffs.
In that context, Japan is trying to reach an agreement with the US before the August 1 deadline to avoid a possible 25% tariff.

If Trump follows through on his threats and trade tensions escalate, it is not hard to imagine gold once again challenging – and potentially breaking – record prices, said Fawad Razaq, market analyst at City Index and FOREX.com.

Among other precious metals, spot silver rose 0.3% to $38.07 an ounce, while platinum jumped 3.1% to $1,460.13 an ounce.

In the Vietnamese market, on July 17, the price of SJC gold listed by Saigon Jewelry Company was at 118.60-120.60 million VND/tael (buy-sell).

If you need to reformat for print, digital publishing, or quickly summarize your newsletter, I can help.

Source: https://doanhnghiepvn.vn/kinh-te/gia-vang-chung-lai-do-anh-huong-tu-dong-usd-va-cac-tin-hieu-kinh-te-my/20250718094618118