World gold prices on July 31 reversed and plummeted after the US Federal Reserve (FED) decided to keep interest rates unchanged, trading at 3,303.9 USD per ounce. Domestically, SJC gold bar and gold ring prices also decreased following world prices, traded at 121.4 million VND per tael and 117.1 million VND per tael, respectively.

In the past weekend, member of the Board of Governors of the Federal Reserve (FED) Christopher Waller warned that the FED may have to raise interest rates higher than expected if related issues cannot be cooled down. It shows that the world's No.1 economy is still facing difficulties and this move will cause many consequences for the global economy.

The International Monetary Fund (IMF) warned that central banks must act decisively to bring inflation back to target levels, as this key economic indicator is now at its highest level in decades.