Gold price today July 12: Continue to increase

Domestic gold prices continued to rise on July 12, with SJC gold bars surpassing the 121 million VND/tael mark. The increase also occurred in the world market as gold benefited from risk aversion after Mr. Trump's announcement of new tariffs.

Saigon Jewelry Company (SJC) listed gold bars at 119 - 121 million VND/ounce (buying price - selling price), an increase of 200,000 VND/ounce in both directions compared to the previous session. The buy-sell spread was 2 million VND/ounce.

Similarly, Phu Nhuan Jewelry Company (PNJ), Bao Tin Minh Chau brand, and DOJI Group also listed SJC gold bars at 119 - 121 million VND/ounce (buying price - selling price), an increase of 200,000 VND/ounce compared to yesterday.

For gold rings, DOJI Group listed 9999 Hung Thinh Vuong round gold rings at 115.5 - 117.5 million VND/ounce (buying price - selling price); this price was adjusted up by 500,000 VND/ounce in both buying and selling directions compared to yesterday. The difference between buying and selling is 2 million VND/ounce.

Saigon Jewelry Company (SJC) listed gold rings at 114.5 - 117 million VND/ounce (buying price - selling price), an increase of 300,000 VND/ounce in both buying and selling prices compared to yesterday. The buy-sell spread at SJC is 2.5 million VND/ounce.

Meanwhile, gold rings at Bao Tin Minh Chau are priced at 115.7 - 118.7 million VND/ounce (buying price - selling price). This gold shop also increased the price by 400,000 VND/ounce in both buying and selling directions compared to yesterday. The difference between the buying and selling prices is 3 million VND/ounce.

Gold ring prices increased by half a million dong per tael.

Global gold prices recorded a 1.27% increase last week, amid the global market reaction to the latest statement from former US President Donald Trump regarding trade policy. Specifically, Trump said he would impose a 35% tariff on goods imported from Canada starting next month, and is also considering imposing tariffs of 15-20% on many other trading partners.

Commenting on this development, Aakash Doshi, a gold strategist at State Street Global Advisors, stated: "The market is witnessing a return of uncertainty, and gold is playing its role as a safe-haven asset." According to Doshi, after a period of strong growth in the first half of the year, gold prices are entering a correction phase and could fluctuate between $3,100 and $3,500 per ounce in the third quarter of 2025.

This week, demand for physical gold in Asian markets remained low due to cautious sentiment amid price fluctuations. In China, domestic gold prices remained significantly higher than world prices. Meanwhile, the price difference in the Indian market narrowed compared to last week.

Source: inhtedothi

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