Gold bar selling price up to 121.5 million VND/tael

(Dan Tri) - Domestic and international gold prices increased simultaneously along with the world market. The price of gold bars has regained the mark of 121 million VND/tael.

Gold bars and gold rings both increased in price

Opening the trading session on July 12, the price of SJC gold bars was listed by large enterprises at 119.5-121.5 million VND/tael (buy - sell), an increase of 500,000 VND each way compared to the closing price of yesterday's session.

The price of plain round gold rings is listed at 115-117.5 million VND/tael (buy - sell), also increasing 500,000 VND each way compared to the closing price of yesterday's session.

Domestic gold prices increased in unison with international developments. The world gold price this morning (Vietnam time) was around 3,353 USD/ounce, up more than 30 USD compared to before.

Domestic gold prices fluctuate in line with world prices (Photo: Manh Quan).

Increased risk aversion in the market has supported gold prices in recent sessions. US President Donald Trump previously escalated trade tensions by announcing a 50% tariff on all copper imports, starting August 1. He also said the US could impose a 50% tariff on goods imported from Brazil.

Meanwhile, the US Federal Reserve (Fed) remains cautious in its monetary policy - even as there are voices supporting the possibility of a rate cut in July.

Ole Hansen, head of commodity strategy at Saxo Bank, said the factors supporting the precious metal's rally remain intact, and new drivers are likely to push prices further higher in the second half of the year.

“After a stellar first half of the year, the investment metals market is entering a consolidation phase. Gold has been flat over the past 12 weeks, giving silver and platinum an opportunity to catch up. With year-to-date gains of around 26% for gold and silver and 54% for platinum, investors are wondering whether the upside is at its limit. We believe the answer is no,” Hansen said.

Tim Waterer, a market analyst at KCM Trade, said Trump’s tariffs have boosted demand for gold as a safe haven, helping to push prices up slightly. However, the rally may not be sustained if investors expect trade talks to ease tensions.

The dollar rose the most since late February, making gold more expensive for international buyers. Waterer said the parallel rise in the dollar and gold prices could limit the precious metal’s gains.

Central rate turns down slightly

The State Bank of Vietnam closed yesterday's session listing the central exchange rate at 25,128 VND, down 3 VND from the previous record. With a 5% margin compared to the central exchange rate, commercial banks are allowed to buy and sell USD in the range of 23,871-26,384 VND.

The exchange rate at major banks is 25,900-26,290 VND (buy - sell), down 10 VND in both buying and selling. At mid-sized banks, the USD price is 25,920-26,270 VND (buy - sell), unchanged in buying and down 20 VND in selling.

On the free market, foreign currency exchange points buy and sell USD around 26,400-26,490 VND (buy - sell), unchanged from before.

Source: https://dantri.com.vn/kinh-doanh/gia-ban-vang-mieng-len-1215-trieu-dongluong-20250712013031811.htm