At the opening session of August 2, the price of SJC gold bars was listed by businesses at 121.5-123.5 million VND/tael (buy - sell), an increase of 1.6 million VND in the buying direction and an increase of 2.1 million VND in the selling direction before. The selling price of gold bars is currently 500,000 VND lower than the record peak of 124 million VND/tael in April.
The price of gold rings is listed at 114.6-117.1 million VND/tael (buy - sell), an increase of 1.9 million VND in both buying and selling directions.
Meanwhile, the world gold price early this morning, Vietnam time, was at 3,363 USD/ounce, up 65 USD compared to the previous one and surpassing the 3,300 USD/ounce mark. Converted at the exchange rate excluding taxes and fees, the world gold price is equivalent to 107 million VND/tael.
Gold prices jumped nearly 2% and hit a one-week high in the trading session on August 1, after weaker-than-expected US employment data raised expectations that the US Federal Reserve (Fed) would cut interest rates this year. At the same time, new tariff announcements from the administration of US President Donald Trump continued to boost demand for safe havens.
World gold prices reversed and skyrocketed (Photo: Manh Quan).
According to the World Gold Council's Gold Demand Trends Report Q2/2025, total gold demand in Q2 (including investment in the over-the-counter market - OTC) reached 1,249 tons, up 3% year-on-year amid rising gold prices.
Ms. Louise Street - Senior Market Analyst at the World Gold Council - assessed that the global market had a volatile start in 2025, when trade tensions, unpredictable changes in US policy and geopolitical hotspots continuously appeared.
Gold has risen 26% in US dollar terms this year, outperforming many other major assets. The impressive rally has attracted investment from around the world as investors seek safety from global economic and political uncertainty.
She predicts that gold prices may fluctuate in a narrower range in the second half of the year after a period of strong growth, but there are still many potential factors that can support the upward trend. If there are more major economic or geopolitical shocks, the demand for gold reserves will increase, thereby creating more momentum for gold prices to continue to rise, Ms. Street said.
Exchange rates continue to rise
At the end of the trading session on August 1, the central exchange rate was listed by the State Bank at 25,249 VND/USD, up 9 VND compared to 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 the previous level. 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-vang-bat-ngo-tang-2-trieu-dongluong-20250802072323707.htm
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