SJC reversed and increased strongly
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.
Illustration photo. (Photo source: Internet)
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.
World gold price
According to Kitco, the world gold price recorded at 5am today, Vietnam time, was at 3,296.24 USD/ounce. Today's gold price decreased by 0.65% compared to yesterday. Converted according to the USD exchange rate on the free market (26,414 VND/USD), the world gold price is 105 million VND/tael (excluding taxes and fees). Thus, the price of SJC gold bars is about 16 million VND/tael higher than the international gold price.
The yield on the benchmark 10-year U.S. Treasury note rose to its highest in more than two weeks, making non-interest-bearing gold less attractive to investors, Reuters reported. Meanwhile, the dollar index (DXY) also rose 0.2%, increasing the cost of holding gold for investors using other currencies.
Illustration photo. (Photo source: Internet)
Meanwhile, two major Asian economies , Japan and South Korea, said they would try to negotiate with the US to minimize the impact of new high tariffs that President Donald Trump plans to impose from August 1.
Trump reignited trade tensions on Monday by warning 14 countries they would face higher tariffs. But with the deadline pushed back to August, countries are using the three-week window to push ahead with negotiations to reach a more favorable deal.
“The market is focused on trade as the July 9 deadline approaches. The Trump administration is ratcheting up the pressure, but optimism about a deal is also fueling risk sentiment, which is keeping gold in check,” said Peter Grant, vice president and senior metals strategist at Zaner Metals.
In addition, the market is also paying attention to the minutes of the latest policy meeting of the US Federal Reserve (Fed), expected to be released this week, along with statements from many Fed officials to better understand the direction of monetary policy and assess the US economy.
“The risk of persistent inflation from the impact of tariffs could prompt the Fed to delay a rate cut until next year, which would put pressure on gold prices,” said Hamad Hussain, climate and commodities economist at Capital Economics.
Investors are now expecting the Fed to cut interest rates a total of 50 basis points between now and the end of 2025, starting in October.
In other precious metals, spot silver fell 0.5% to $36.57 an ounce, platinum fell 0.8% to $1,359.97 and palladium fell 0.2% to $1,108.77 an ounce.
Source: https://doanhnghiepvn.vn/kinh-te/gia-vang-ngay-9-7-2025-sjc-dao-chieu-tang-manh/20250709083237590
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