Gold bars and gold rings both increased in price
Opening the trading session on July 1, the price of SJC gold bars was listed by large enterprises at 118.3-120.3 million VND/tael (buy - sell), an increase of 800,000 VND each way compared to the closing price of yesterday's session.
The price of plain round gold rings this morning is 114-116.5 million VND/tael (buy - sell), an increase of 500,000 VND in both buying and selling.
In the afternoon session, the price of SJC gold bars continued to increase by 400,000 VND each way, listed at 118.7-120.7 million VND/tael (buy - sell). Since the beginning, the price of gold bars has increased by 1.5 million VND each way.
The price of round rings was traded at 114.3-116.8 million VND/tael (buy - sell), increasing by 300,000 VND in both buying and selling in the afternoon session. After the first 2 sessions of the week, plain gold rings increased by 1.1 VND each way.
Domestic gold prices recovered after a week of decline at the same time as world prices increased. Specifically, on the international market, gold prices were trading around 3,292 USD/ounce, up 15 USD compared to the previous day and equivalent to 103.8 million VND/tael calculated at the exchange rate excluding taxes and fees.
Domestic and world gold prices increased simultaneously (Photo: Tien Tuan).
Gold prices have reversed and increased, supported by a weaker US dollar. Earlier, gold prices hit their lowest level in more than a month as US-China trade tensions eased, reducing safe-haven demand and boosting risk appetite. A weaker US dollar makes gold priced in US dollars cheaper for buyers holding other currencies.
When geopolitical and economic conditions stabilize, demand for gold as a safe haven asset typically declines. In addition, in the context of high interest rates, the appeal of non-yielding assets such as gold is further weakened.
Some experts believe that the sharp drop in gold prices last week was an over-correction, with a high possibility of a technical recovery. At the same time, political instability in the US related to the tax bill could boost investors' demand for shelter, whether the bill is passed or not, leading to concerns about political turmoil or budget deficits.
USD price in banks increased
The USD-Index - a measure of the greenback's performance against six major currencies - fell 0.36% from the previous day to 97.04 points.
In the foreign exchange market, the central exchange rate was listed by the State Bank at 25,052 VND/USD, up 4 VND compared to the previous session. With a 5% amplitude, the ceiling and floor exchange rates are 26,304 VND/USD and 23,799 VND/USD, respectively.
The USD exchange rate listed by major banks is 25,910-26,300 VND (buy - sell), an increase of 30 VND in both buying and selling. At joint stock banks, the corresponding exchange rate for both buying and selling is 25,900-26,290 VND (buy - sell).
On the free market, the USD price is traded at 26,380-26,480 VND (buy - sell), up 10 VND each way compared to before.
Source: https://dantri.com.vn/kinh-doanh/gia-vang-tang-tien-sat-121-trieu-dongluong-20250701001451814.htm
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