Gold price today (July 9): Domestic gold reverses to increase

Gold price today (July 9): Domestic gold bars and gold rings reversed to increase. World gold prices reversed to decrease in the context of the strong recovery of the USD.

Domestic gold price today

After a price drop yesterday morning, the price of gold bars today reversed and increased sharply.

The brands DOJI , SJC, PNJ, and Bao Tin Minh Chau simultaneously listed the price of gold bars at 119 - 121 million VND/tael (buy - sell), an increase of 500 thousand VND/tael in both directions.

Phu Quy SJC buys 700 thousand VND/tael lower at 118.3 million VND/tael; sells 121 million VND/tael.

Domestic gold prices today reversed to increase. Photo: 24h.com.vn

Similarly, the price of gold rings also increased compared to yesterday morning.

SJC listed the price of gold rings at 114.4 - 116.9 million VND/tael (buy - sell), an increase of 500 thousand VND/tael in both directions.

DOJI traded gold rings at 115.5 - 117.5 million VND/tael (buy - sell), up 500 thousand VND/tael in both directions.

PNJ buys gold rings at 114.7 million VND/tael (up 500 thousand VND/tael) and sells at 117.3 million VND/tael (up 400 thousand VND/tael).

Bao Tin Minh Chau gold rings increased by 500 thousand VND/tael in both directions, trading at 115.7 - 118.7 million VND/tael (buy - sell).

Phu Quy Group listed the price of gold rings at 114.3 - 117.3 million VND/tael (buy - sell), an increase of 400 thousand VND/tael in both directions.

Domestic gold bar prices updated at 5:00 a.m. July 9 as follows:

Yellow	Area	Early morning 8-7	Early morning 9-7	Difference
Buy	Sell	Buy	Sell	Buy	Sell
Unit of measure: Million VND/tael	Unit of measure: Thousand dong/tael
DOJI	Hanoi	118.5	120.5	119	121	+500	+500
Ho Chi Minh City	118.5	120.5	119	121	+500	+500
SJC	Ho Chi Minh City	118.5	120.5	119	121	+500	+500
Hanoi	118.5	120.5	119	121	+500	+500
Danang	118.5	120.5	119	121	+500	+500
PNJ	Ho Chi Minh City	118.5	120.5	119	121	+500	+500
Hanoi	118.5	120.5	119	121	+500	+500
Bao Tin Minh Chau	Nationwide	118.5	120.5	119	121	+500	+500
Phu Quy SJC	Nationwide	117.8	120.5	118.3	121	+500	+500

World gold price today

Spot gold prices on the world market decreased by 0.9% in the past 24 hours, equivalent to a decrease of 30.12 USD/ounce.

With the domestic gold bar price increasing and the world gold price listed at Kitco at 3,303.02 USD/ounce (equivalent to about 104.8 million VND/tael converted according to Vietcombank exchange rate, excluding taxes and fees), the domestic gold price is about 16.2 million VND/tael higher than the world gold price.

World gold prices turn down. Photo: MarketWatch

Gold prices fell as they came under pressure from rising US Treasury yields, amid US President Donald Trump announcing new tariff proposals against trading partners, including Japan and South Korea.

The US and its trading partners are embroiled in a tariff war as President Donald Trump continues to threaten new tariffs after August 1. In this uncertain environment, investors are flocking to the US dollar - a safe haven asset. Typically, when the US dollar rises, gold is under pressure because the cost of holding non-yielding gold increases for foreign investors.

However, the story this time is not so simple. Despite the strengthening of the US dollar, gold prices have remained around $3,300/ounce, continuing to demonstrate an effective defensive role against concerns about trade wars and the risk of stagnant inflation. Ahead of the release of the minutes of the US Federal Open Market Committee (FOMC), the market remains cautious, waiting for clues about the possibility of monetary tightening by the Fed - a factor that could guide the next development of gold prices.

“Gold is caught between two opposing pressures. On the one hand, the US decision to extend the deadline for reaching a trade agreement with many partners has put downward pressure on gold prices. On the other hand, the US’s key trading partners in Asia may face higher tariffs in the coming time, negatively affecting economic growth prospects, which is a factor supporting gold prices,” said UBS commodities analyst Giovanni Staunovo.

The geopolitical chessboard has a strong influence on the fate of gold. Trump’s tariff threats, especially the 10% import tax on BRICS countries, have further highlighted gold’s role as a safe haven asset. The threat of retaliation from China and other countries has increased global uncertainty, allowing gold to shine.

KHANH MINH

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Source: https://baolamdong.vn/gia-vang-hom-nay-9-7-vang-trong-nuoc-dao-chieu-tang-381646.html