Gold price increase
Opening the trading session on July 3, the price of SJC gold bars was listed by large enterprises at 118.9-120.9 million VND/tael (buy - sell), an increase of 200,000 VND each way compared to the closing price of yesterday's session.
The price of plain round rings also increased with a similar amplitude, listed at 114.2-116.7 million VND/tael (buy - sell).
By the end of the afternoon session, the price of gold bars continued to be adjusted and exceeded 121 million VND/tael in the selling direction. Accordingly, gold bars were traded around 119.3-121.3 million VND/tael (buy - sell), an increase of 400,000 VND each way. The total increase of this item during the day was 600,000 VND.
Plain gold rings are listed at 114.5-117 million VND/tael (buy - sell), up 300,000 VND each way compared to the opening price.
The world gold price this morning was at 3,346 USD/ounce, up 9 USD compared to before and equivalent to 106 million VND/tael calculated according to the exchange rate excluding tax and fees. The world gold price has recorded 3 consecutive sessions of increase.
A gold product of a business in Hanoi (Photo: Manh Quan).
Gold's recent gains have been supported by a weaker US dollar. The US dollar-index has fallen to its lowest level since early 2022, making gold more attractive to foreign investors.
The gold market also rose as investors sought safe-haven assets after the US Senate passed President Donald Trump's tax cut and spending increase bill ahead of the July 9 deadline for imposing import tariffs.
Meanwhile, Donald Trump continues to pressure the US Federal Reserve (Fed) to cut interest rates. He sent Fed Chairman Jerome Powell a list of global interest rates, with a note suggesting that US interest rates should range from 0.5% (Japan) to 1.75% (Denmark).
All of these factors are in favor of gold. The precious metal is considered a good store of value, which tends to increase during times of economic and political instability.
Bank USD price continues to increase
The USD-Index - a measure of the greenback's performance against six major currencies - fell 0.2% from the previous day to 96.8 points.
In the foreign exchange market, the central exchange rate was listed by the State Bank at 25,070 VND, up 12 VND from the previous session. With a 5% amplitude, the ceiling and floor exchange rates are 26,323 VND/USD and 23,816 VND/USD, respectively.
The USD exchange rate listed by major banks is 25,920-26,323 VND (buy - sell), up 12 VND for the selling price. At joint stock banks, the corresponding exchange rate for both buying and selling is 25,930-26,323 VND (buy - sell). All banks listed the USD selling price at the ceiling price.
On the free market, the USD price is traded at 26,390-26,450 VND (buy - sell), down 20 VND each way compared to before.
Source: https://dantri.com.vn/kinh-doanh/gia-ban-vang-sjc-vuot-121-trieu-dongluong-20250703005040167.htm
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