Gold prices fluctuated wildly today after the end of the monetary policy meeting, the US Federal Reserve announced that interest rate cuts will be discussed in September 2024. At the same time, the Bank of Japan raised interest rates from 0% to 0.25%.

In response to the news, the US dollar has fallen sharply against many other currencies. Gold prices have the momentum to heat up.

However, the main reason for the sharp increase in gold prices was the assassination of the Hamas leader in Tehran (Iran), raising concerns about the risk of a military outbreak in the Middle East.

This information has investors worried about unpredictable fluctuations in the financial market. As a result, many people have increased their demand for gold as a safe haven to preserve their capital.

Immediately, the world gold price continued to increase and by 6:00 a.m. on August 1, it reached 2,447 USD/ounce, an increase of 37 USD compared to the same time the previous day, which was 2,409 USD/ounce.

In Vietnam, the price of SJC gold on July 31 remained unchanged at 79 million VND/tael. The price of gold rings produced by SJC and PNJ companies was 77.3 million VND/tael.