At the end of the trading session on August 1, the price of SJC gold bars was listed by businesses at 119.9-121.4 million VND/tael (buy - sell), unchanged from the previous trading session. The price of gold rings was listed at 114.6-117.1 million VND/tael (buy - sell), down 100,000 VND/tael each way.
Meanwhile, the world gold price early this morning, Vietnam time, was at 3,363 USD/ounce, up 65 USD compared to before and surpassing the 3,300 USD/ounce mark. Converted at the exchange rate excluding taxes and fees, the world gold price is equivalent to 107 million VND/tael.
Gold prices jumped nearly 2% to a one-week high on August 1 after weaker-than-expected US jobs data raised expectations that the Federal Reserve will cut interest rates this year. Meanwhile, new tariff announcements from the Trump administration continued to boost demand for safe havens.
World gold prices reversed and skyrocketed (Photo: Manh Quan).
According to the World Gold Council's Gold Demand Trends Report for Q2/2025, total gold demand in Q2 (including investment in the over-the-counter (OTC) market) reached 1,249 tons, up 3% year-on-year amid rising gold prices.
Ms. Louise Street - Senior Market Analyst at the World Gold Council - assessed that the global market had a volatile start in 2025, when trade tensions, unpredictable changes in US policy and geopolitical hotspots continuously appeared.
Gold has gained 26% in US dollar terms this year, outperforming many other major asset classes. The impressive rally has attracted investment from around the world as investors seek safety from global economic and political uncertainty.
She predicts that gold prices may fluctuate in a narrower range in the second half of the year after a period of strong growth, but there are still many potential factors that can support the upward trend. If there are more major economic or geopolitical shocks, the demand for gold will increase, thereby creating more momentum for gold prices to continue to rise, Ms. Street said.
Exchange rate continues to increase
At the end of the trading session on August 1, the central exchange rate was listed by the State Bank at 25,249 VND/USD, up 9 VND compared to the previous trading session and continuing to reach a historical high. With a 5% amplitude, the ceiling and floor exchange rates applied are 26,510 VND/USD and 23,987 VND/USD, respectively.
Major banks listed the exchange rate at 26,000-26,390 VND/USD (buy - sell), up 10 VND compared to before. At the group of private commercial banks, units listed the greenback trading price at 26,010-26,390 VND/USD (buy - sell).
In the free market, foreign exchange points accept buying and selling the greenback at 26,440-26,450 VND/USD, an increase of 70 VND for buying and unchanged for selling.
Source: https://dantri.com.vn/kinh-doanh/gia-vang-lai-dao-chieu-tang-vot-20250802072323707.htm
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