At the opening session of August 4, SJC gold price was listed by businesses at 121.7-123.2 million VND/tael (buy - sell), an increase of 200,000 VND in buying price and a decrease of 200,000 VND/tael in selling price compared to before.
The price of gold rings is listed at 116.3-118.8 million VND/tael (buy - sell), down 200,000 VND in both buying and selling directions.
Meanwhile, the world gold price early this morning Vietnam time was at 3,358 USD/ounce, up 9 USD compared to before. Converted at the exchange rate excluding taxes and fees, the world gold price is equivalent to 107 million VND/tael.
The price of gold bars is currently only 500,000 VND lower than the record mark (Photo: Manh Quan).
Gold prices rose 2% to a one-week high on Friday after weaker-than-expected US jobs data boosted expectations of a rate cut by the Federal Reserve, while fresh tariff announcements from the Trump administration continued to boost safe-haven demand.
Bart Melek, head of commodity strategy at TD Securities, said the jobs data was lower than expected but still higher than the market had anticipated, which increases the likelihood of the Fed cutting interest rates later this year.
The US economy added just 73,000 jobs in July, well below expectations, after June's figure was revised down sharply to just 14,000 jobs, according to the US Department of Labor.
Investors now expect the Fed to make two interest rate cuts before the end of 2025, with the first one possibly coming in September. Previously, the Fed decided to keep interest rates in the range of 4.25% - 4.50%, and Chairman Jerome Powell said there was no decision yet for September.
David Morrison, a veteran analyst, said that the weak jobs data is a positive factor for gold, but the market has not yet had enough momentum to make a real breakthrough. “Gold is still stuck in a range. It will take more time to consolidate before it can sustainably break above $3,400 an ounce,” he said.
However, Morrison also pointed out positive technical factors. Accordingly, short-term momentum indicators have escaped overbought conditions, opening up room for gold to increase further if there are more catalysts.
Another reason for the increase in gold prices is a series of new announcements by US President Donald Trump on import tariffs, causing investors to buy gold as a safe haven. The new reciprocal tariffs of the US with its trading partners will take effect from August 7.
According to the weekly Kitco News survey, bullish sentiment among analysts is at its highest level in months, with none of the 17 experts surveyed predicting a decline in gold prices this week.
USD buying price in banks exceeds 26,000 VND
At the end of the trading session on August 2, the central exchange rate listed by the State Bank was 25,249 VND/USD, unchanged from the previous trading session and continuing to reach a historical high. With a 5% amplitude, the ceiling and floor exchange rates applied are 26,510 VND/USD and 23,987 VND/USD, respectively.
Major banks listed the exchange rate at 26,000-26,390 VND/USD (buy - sell), up 10 VND compared to before. At the group of private commercial banks, units listed the greenback trading price at 26,010-26,390 VND/USD (buy - sell).
In the free market, foreign exchange points accept buying and selling the greenback at 26,440-26,450 VND/USD, an increase of 70 VND for buying and unchanged for selling.
Source: https://dantri.com.vn/kinh-doanh/gia-mua-vang-mieng-quay-dau-giam-20250804063323934.htm
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