Gold price today July 12: Domestic and world prices increase simultaneously

On the morning of July 12, spot gold was trading at $3,361.07/ounce, up 1.4% from yesterday.

Gold futures for August 2025 delivery on the Comex New York floor traded at $3,356/ounce.

According to experts, the fluctuations in US trade policy during the Trump administration are becoming a strong catalyst, changing traditional market dynamics and boosting demand for safe-haven assets, especially precious metals.

The government's announcement of a 50% tariff on copper imports from August 1, along with similar measures on Brazilian goods, has created a huge wave of uncertainty in global markets.

Recent data shows the US labor market remains strong, which could reduce pressure on the Federal Reserve to cut interest rates too quickly.

Domestic and world gold prices increased today. (Illustration photo)

The deliberate weakening of the US dollar further strengthens gold's position as a hedge against inflation and a safe haven for future value.

Typically, such strong labor market data would dampen expectations of the Fed easing monetary policy, creating headwinds for precious metals prices.

Gold price movements today

+ Domestic gold price

At 6:00 a.m. on July 12, the price of gold bars at Doji and SJC was listed at 119-121 million VND/tael (buy - sell), an increase of 200,000 VND/tael in both buying and selling directions.

Meanwhile, the price of gold rings is 115.5-118.5 million VND/tael (buy - sell), an increase of 300,000 VND/tael for buying and 1.3 million VND/tael for selling.

The difference between buying and selling prices increased to 3 million VND/tael.

+ International gold price

The world gold price listed on Kitco was at 3,361.07 USD/ounce, up 1.4% compared to yesterday. The gold futures price for August 2025 delivery on the Comex New York floor traded at 3,356 USD/ounce.

Gold Price Forecast

World gold prices rose 1.27%, reaching a one-week high after US President Donald Trump expanded the global trade war by sending letters as a trade deal to impose tariffs. This move caused investors to rush to buy gold as a safe haven against economic uncertainties.

Specifically, spot gold price increased to 3,355.31 USD/ounce, while gold futures price in the US also increased 1.3%, to 3,369 USD/ounce.

The gold price increase came shortly after Trump announced that he would impose a 35% tariff on goods imported from Canada next month, while also planning to impose 15-20% tariffs on many other trading partners.

This week, US President Donald Trump also announced a 50% tariff on copper imported into the US and goods from Brazil. Brazil also made a strong statement in response to similar tariffs, opening a new tariff war.

According to Aakash Doshi, gold strategist at State Street Global Advisors, the market is witnessing a return of uncertainty, and gold is benefiting from its role as a safe-haven asset.

He predicted that gold prices in the third quarter could fluctuate between $3,100 and $3,500 after strong growth in the first half of the year and entering a correction phase.

Source: https://baolangson.vn/gia-vang-hom-nay-12-7-trong-nuoc-va-the-gioi-dong-loat-tang-5052929.html