At the end of the trading session on July 1, the price of SJC gold bars was listed by large enterprises at 118.7-120.7 million VND/tael (buy - sell), an increase of 1.2 million VND each way compared to the closing price of the previous session.
The price of plain round rings is 114.3-116.8 million VND/tael (buy - sell), an increase of 800,000 VND in both buying and selling.
The world gold price this morning (July 2, Vietnam time) was around 3,339 USD/ounce, up 42 USD compared to before and equivalent to 105.9 million VND/tael calculated according to the exchange rate excluding tax and fees.
World gold price skyrocketed by 42 USD/ounce after one day (Photo: Thanh Dong).
The gold market continued to maintain a steady upward momentum, holding steady above the $3,300/ounce mark amid a sharp weakening of the US dollar and falling US Treasury yields. This development has led investors to increasingly seek gold as a safe haven.
In the international market, the USD index (DXY) continued to fall to its lowest level since the beginning of 2022, while the yield on 10-year US Treasury bonds fell to 4.19%. These two factors create conditions for the US Federal Reserve (Fed) to have more room to consider easing interest rate policy in the near future.
In addition, newly released data showed signs of improvement in the US manufacturing sector. According to the Institute for Supply Management (ISM), the manufacturing PMI for June rose to 49 points, higher than the 48.5 in May and exceeding the market forecast of 48.8 points. Immediately after the report was released, spot gold prices jumped, reaching a session high.
Gold prices are recovering after falling to a five-week low. Investors will be closely monitoring new signals on US monetary policy and developments in trade negotiations this week.
Notably, political uncertainty surrounding the US tax bill could continue to fuel demand for gold. Whether the bill passes or not, either scenario could raise concerns about political turmoil or pressure to increase the budget deficit.
Bank USD price continues to increase
The USD-Index - a measure of the greenback's performance against six major currencies - fell 0.23% from the previous day to 97.18 points.
In the foreign exchange market, the central exchange rate was listed by the State Bank at 25,058 VND/USD, up 5 VND compared to the previous session. With a 5% amplitude, the ceiling and floor exchange rates are 26,309 VND/USD and 23,804 VND/USD, respectively.
The USD exchange rate listed by major banks is 25,902-26,310 VND (buying - selling), an increase of 10 VND for selling. At joint stock banks, the corresponding exchange rate for buying - selling is 25,930-26,310 VND, an increase of 20 VND for buying and selling.
On the free market, the USD price is traded at 26,420-26,500 VND (buy - sell), up 20 VND each way compared to before.
Source: https://dantri.com.vn/kinh-doanh/gia-vang-the-gioi-dao-chieu-tang-vot-20250702065932731.htm
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