World gold price increased vertically in the weekend session - Screenshot
SJC gold bar price increased by 2.1 million VND/tael
At the end of the trading week, the world gold price increased by 73 USD/ounce (equivalent to 2.3 million VND/tael), to 3,363.5 USD/ounce.
At the current price, converted according to the listed exchange rate at the bank, the world gold price is equivalent to 107 million VND/tael.
The price of SJC gold bars on August 2 increased by 2.1 million VND/tael, to 123.5 million VND/tael. The buying price also increased sharply, to 121.5 million VND/tael.
At major gold companies, the buying and selling price of SJC gold bars has also been pushed up. For example, at Mi Hong, the selling price of SJC gold bars is 123.2 million VND/tael, buying price is 121.5 million VND/tael.
Meanwhile, the selling price of 9999 gold rings at SJC Company increased lower, by 1.9 million VND/tael, to 119 million VND/tael. The buying price of 9999 gold rings increased to 116.5 million VND/tael.
Compared to the converted world gold price, the price of SJC gold bars is 16.5 million VND/tael higher, and the price of gold rings is 12 million VND/tael higher.
Why did the world gold price suddenly increase sharply?
World gold prices increased sharply in the last trading session of the week due to the recently released US employment report being worse than expected.
In addition, the number of new jobs in previous months also decreased sharply. The above figures increase the possibility that the US Federal Reserve (Fed) may cut interest rates sooner than expected to support the economy .
After the report was released, the market bet on the possibility of the Fed cutting interest rates at the September meeting. The market also now believes that the Fed will have two interest rate cuts this year instead of just one as previously reported.
Gold prices also benefited from the fall in the US dollar in the international market.
In addition, US President Donald Trump's announcement of new reciprocal tariffs on many countries and territories also boosted demand for holding gold to hedge against risks.
However, the world's largest gold ETF, SPDR Gold Trust, still sold a net 1.4 tons of gold in the last session of the week, reducing its holdings to 953.1 tons of gold. This week, the fund sold a net 4 tons of gold, after buying a net 13.5 tons of gold last week.
Source: https://tuoitre.vn/gia-vang-mieng-sjc-tang-chong-mat-len-hon-123-trieu-dong-luong-20250802181255446.htm
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