At the end of the session on July 5 , the price of gold bars at SJC closed at 118.9-120.9 million VND/tael (buy - sell), equal to the closing price of yesterday's trading session.
At the end of the session, the price of SJC gold rings of 1-5 chi was listed at 114.3-116.8 million VND/tael (buy - sell), an increase of 100 thousand VND/tael in both buying and selling compared to the end of yesterday's session.
The price of 9999 gold rings at Doji closed the session at 115.5-117.5 million VND/tael (buy - sell), unchanged from yesterday's closing price.
Today, the world gold price increased slightly. The world spot gold price ended the week at 3,335.9 USD/ounce, up 2.9 USD/ounce compared to last night.
Meanwhile, domestic gold prices today fluctuated little.
According to Kitco, at 8 p.m. (July 4, Vietnam time), the spot gold price was at $3,333/ounce, up 0.25% on the day. The gold futures price for August 2025 delivery on the Comex New York floor traded at $3,342/ounce.
The US services sector recorded a significant improvement last month, according to the latest data from the Institute for Supply Management (ISM). Although the employment situation showed signs of weakness, business activity and prices increased, suggesting a more positive overall picture.
The Services Purchasing Managers' Index (PMI) rose to 50.8 in June, up from 49.9 in May. The reading beat economists ' expectations of 50.5. The increase in the Services PMI in June is a positive sign, showing the resilience of the US service sector, even in the face of challenges in the labor market.
The business activity index rose to 54.2 in June, significantly higher than May's reading of 50, suggesting activity in the services sector is picking up again.
Meanwhile, inflationary pressures eased somewhat, with the price index reaching 67.5, down from 68.7 in May.
Steve Miller, chairman of the ISM Services Business Survey Committee, said rising prices were weighing on operating costs. Tensions in the Middle East were a new topic of interest in June, although there were no immediate signs of related supply chain disruptions. There were also concerns about the impact of tariffs.
David Meger, director of metals trading at High Ridge Futures, said the better-than-expected jobs data means the chances of the Federal Reserve cutting interest rates sooner than currently expected are lower. As a result, the US dollar has strengthened, putting further pressure on the gold market. According to him, the possibility of a rate cut in July 2025 is almost gone.
At the end of the session on July 3, the price of SJC gold bars was traded at 118.9-120.9 million VND/tael (buy - sell), down 400,000 VND/tael compared to the previous session.
The price of 1-5 chi SJC gold rings is listed at 114.2-116.7 million VND/tael (buy - sell), down 300,000 VND/tael compared to the previous session. The price of 9999 gold rings at Doji is at 115.5-117.5 million VND/tael.
Gold Price Forecast
Rich Checkan, Chairman and CEO of Asset Strategies International, expressed deep concern about the US debt situation. The world is waking up to the problems of overspending and debt, and he asserted that the solution is gold. This view reinforces the role of gold as a safe haven asset in times of financial turmoil.
Adrian Day, chairman of Adrian Day Asset Management, predicts that gold prices may experience a short-term pullback. Some tariff agreements may be reached, easing concerns about a trade war.
Meanwhile, China's central bank buying and unofficial buying are slowing.
Mr. Day emphasized that the downward pressure on prices is only temporary, and the long-term upward trend of gold is still maintained, as a channel to ensure value in the context of many global economic challenges.
According to Kelvin Wong, senior market analyst at financial firm Oanda, gold prices are trending in a narrow range of $3,320-$3,360 per ounce.
Source: https://vietnamnet.vn/gia-vang-hom-nay-5-7-2025-dao-chieu-tang-vang-mieng-sjc-co-ve-moc-121-trieu-2418394.html
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