On the morning of July 3, gold bars at Saigon Jewelry Company - SJC increased by 200,000 VND, bringing the buying price to 118.9 million VND, selling price to 120.9 million VND. Gold rings with 4 number 9s also increased by 300,000 VND when SJC bought for 114.3 million VND, selling price to 116.8 million VND; Phu Nhuan Jewelry Company (PNJ) increased by 300,000 VND in buying price, to 114.8 million VND and increased by 400,000 VND in selling price, to 117.4 million VND; Doji increased by 300,000 VND and bought for 115.7 million VND, sold for 117.7 million VND.
The price of gold bars on the morning of July 3 increased to nearly 121 million VND/tael. PHOTO: NGOC THANG
World gold prices moved sideways around $3,343/ounce. Gold jumped after the ADP national employment report showed that the number of private sector jobs in the US in June decreased by 33,000 jobs. This is the first month that the number of US jobs decreased in more than 2 years. This could prompt the US Federal Reserve (Fed) to soon lower interest rates. Gold is usually supported when interest rates decrease.
Fed Chairman Jerome Powell reiterated on July 1 that the Fed is patient in cutting interest rates further. However, Powell did not rule out a rate cut at this month's meeting and said everything depends on the incoming data.
The Fed chairman also admitted that the US central bank would have eased monetary policy if it were not for President Donald Trump's tariff plans.
Gold hit an all-time high in mid-June amid heightened geopolitical tensions and rising economic uncertainty, while strong inflows into gold ETFs in the first quarter of 2025 pushed investment demand to its highest level since 2022, the World Bank said in a new report.
Central banks continue to buy, reflecting their reserve management strategies. According to World Bank analysts, gold prices are forecast to increase by about 35% in 2025 compared to the same period in 2024, before declining slightly in 2026 as some of the current uncertainties begin to ease.../.
According to Thanh Nien Newspaper
Source: https://thanhnien.vn/gia-vang-hom-nay-372025-tang-len-sat-121-trieu-dong-185250703073333379.htm
Source: https://baolongan.vn/gia-vang-hom-nay-03-7-tang-len-sat-121-trieu-dong-a198076.html
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