Gold price close to 121 million VND/tael, USD price hits peak

(Dan Tri) - Each tael of SJC gold bar increased by 1.7 million VND after one week. The central exchange rate is currently at its peak of 25,116 VND, up more than 3% compared to the beginning of the year.

At the end of the trading week from June 30 to July 5, SJC gold bar prices were listed by large businesses at 118.9-120.9 million VND/tael (buy - sell).

At the opening session of last week, the price of gold bars was at 117.2-119.2 million VND/tael (buy - sell) and the highest price recorded was 119.3-121.3 million VND/tael (buy - sell). Thus, after a week of trading, although the price could not be maintained at the peak, the price of both buying and selling directions increased by 1.7 million VND.

The price of plain round rings is listed at 114.3-116.8 million VND/tael (buy - sell), down 200,000 VND each way before closing the week.

SJC gold bar price increased by 1.7 million VND/tael after one week (Photo: Manh Quan).

The world gold price this morning (Vietnam time) was at 3,329 USD/ounce, down more than 35 USD compared to the peak of the previous week, equivalent to 105.7 million VND/tael calculated according to the exchange rate excluding taxes and fees. However, the gold price still recorded a 2% increase last week.

World gold prices last week were supported by favorable economic and political developments. The focus was on decisions in the US, especially after the US Senate passed President Donald Trump's tax reform bill on July 1, which is expected to increase the federal debt by more than 3,000 billion USD.

On the same day, Mr. Trump announced that he will not extend the July 9 deadline for new trade agreements, making the market even more worried.

In addition, the weakening of the US dollar also contributed to the increase in gold prices. In June, the USD decreased by nearly 2%. The falling greenback made gold more attractive to international investors.

This week, the gold price trend is considered unpredictable. According to Kitco's survey, among the experts and traders asked, 36% predict gold prices will increase, 28% think it will decrease and 36% think the price will go sideways.

Investors are also awaiting a slew of key economic releases, including the Reserve Bank of Australia's monetary policy meeting, the Fed's June meeting minutes and US weekly jobless claims data.

Central rate continues to increase

The USD Index - a measure of the greenback's strength against a basket of major currencies - reached 96.98 points, down more than 10% from the beginning of the year.

The State Bank currently lists the central exchange rate at 25,116 VND, up 25 VND from the previous rate, setting a record. With a 5% margin compared to the central exchange rate, commercial banks are allowed to buy and sell USD in the range of 23,860-26,371 VND.

The exchange rate at major banks is 25,960-26,350 VND (buy - sell), down 20 VND in both directions compared to before. At mid-sized banks, the USD price is 25,990-26,345 VND (buy - sell).

On the free market, foreign exchange points buy and sell US dollars around 26,420-26,520 VND (buy - sell), up 50 VND each way.

Source: https://dantri.com.vn/lanh-doanh/gia-vang-mieng-sat-moc-121-trieu-dongluong-gia-usd-lap-dinh-20250707065525364.htm