Domestic gold ring price today
The price of gold rings on August 1st of various brands decreased from 100,000 to 300,000 VND/tael compared to yesterday morning.
Specifically, SJC listed the price of gold rings at 114.6 - 117.1 million VND/tael (buy - sell), down 100,000 VND/tael in both directions.
DOJI traded gold rings at 115.8 - 118.3 million VND/tael, down 300,000 VND/tael in both directions.
Bao Tin Minh Chau gold rings decreased by 100,000 VND/tael in both directions, currently trading at 116.2 - 119.2 million VND/tael (buy - sell).
PNJ traded gold rings at 115.1 - 118.1 million VND/tael, down 300,000 VND/tael in both directions.
Phu Quy traded gold rings at 115 - 118 million VND/tael, down 200,000 VND/tael in both directions.
Gold price today (August 1) decreased by 100,000 - 300,000 VND/tael depending on the brand
Domestic gold bar price today
The price of domestic gold bars decreased slightly by 100,000 - 300,000 VND/tael compared to yesterday morning. On the morning of August 1, gold bars of the SJC, PNJ, and Bao Tin Minh Chau brands were bought at 119.9 million VND/tael and sold at 121.4 million VND/tael, down 100,000 VND/tael compared to yesterday morning.
DOJI brand gold bars were bought at 119.7 million VND/tael, sold at 121.2 million VND/tael, down 300,000 VND/tael compared to yesterday morning.
Particularly, Phu Quy SJC brand gold bars are being bought at a price 500,000 VND lower than other brands, listed at 119.4 million VND/tael for buying and 121.4 million VND/tael for selling, down 100,000 VND/tael compared to yesterday morning.
Domestic gold bar prices updated on the morning of August 1 as follows:
Yellow | Area | Early morning of July 31 | Early morning 1/8 | Difference | ||||||
Buy | Sell | Buy | Sell | Buy | Sell | |||||
Unit of measure: Million VND/tael | Unit of measure: Thousand dong/tael | |||||||||
DOJI | 120 | 121.5 | 119.7 | 121.2 | -300 | -300 | ||||
Ho Chi Minh City | 120 | 121.5 | 119.7 | 121.2 | -300 | -300 | ||||
SJC | Ho Chi Minh City | 120 | 121.5 | 119.9 | 121.4 | -100 | -100 | |||
Hanoi | 120 | 121.5 | 119.9 | 121.4 | -100 | -100 | ||||
Danang | 120 | 121.5 | 119.9 | 121.4 | -100 | -100 | ||||
PNJ | Ho Chi Minh City | 120 | 121.5 | 119.9 | 121.4 | -100 | -100 | |||
Hanoi | 120 | 121.5 | 119.9 | 121.4 | -100 | -100 | ||||
Bao Tin Minh Chau | Nationwide | 120 | 121.5 | 119.9 | 121.4 | -100 | -100 | |||
Phu Quy SJC | Nationwide | 119.5 | 121.5 | 119.4 | 121.4 | -100 | -100 | |||
World gold price today
World gold prices turned slightly higher before the deadline for ending tariff negotiations on August 1 (Washington time) by US President Donald Trump.
World gold prices increased slightly today, with spot gold prices at 3,292.2 USD/ounce. World gold prices generally increased by 0.11% in the past 24 hours, equivalent to a decrease of 3.7 USD/ounce.
With the domestic gold bar price decreasing and the world gold price listed at Kitco at 3,292.2 USD/ounce (equivalent to about 104.7 million VND/tael converted according to Vietcombank exchange rate, excluding taxes and fees), the difference between domestic and world gold prices is about 16.7 million VND/tael.
Gold prices rose on Thursday as investors turned to the traditional safe haven as tariff uncertainty remained ahead of U.S. President Donald Trump’s August 1 deadline for ending talks.
Spot gold rose 0.6% to $3,294.56 an ounce at 2 p.m. ET on July 31 (1 a.m. on August 1, Hanoi time), after rising more than 1% earlier in the day. US gold futures closed down 0.1% at $3,348.60 an ounce.
World oil prices
According to Reuters, Brent crude oil price decreased by 71 cents (equivalent to 0.97%) to 72.53 USD/barrel. WTI crude oil price decreased by 74 cents (equivalent to 1.06%) to 69.26 USD/barrel.
World oil prices turned down as investors became increasingly concerned about the deadline for imposing new trade tariffs from August 1 in the US.
Oil prices fell after the White House said on Thursday that countries that have not yet signed trade deals or received tariff notices from the Trump administration will receive details later in the day. The United States has now reached trade deals with about two-thirds of its top 18 partners.
Notably, President Trump said: “I and Mexican President Claudia Sheinbaum have agreed to extend the bilateral trade agreement for another 90 days to continue negotiations. However, during this time, Mexico will still be subject to 25% import tariffs on Fentanyl and automobiles, as well as tariffs of up to 50% on steel, aluminum and copper. In addition, Mexico has agreed to immediately remove long-standing non-tariff barriers to trade,” Trump said in a social media post.
The extension of the agreement with Mexico has put some pressure on crude oil futures, according to John Kilduff, partner at Again Capital (New York).
“The current tariffs are having a negative impact on the oil demand outlook. Although the situation with Mexico is on hold, uncertainty remains,” said John Kilduff.
One factor weighing on the oil market was a rise in U.S. inflation in June due to tariffs, which increased the prices of imported goods such as home furnishings and entertainment products, reinforcing the view that price pressures will increase in the second half of the year and delay a Federal Reserve interest rate cut until at least October. Lower interest rates reduce consumer borrowing costs and can boost economic growth and oil demand, thus having a major impact on oil demand.
According to the US Energy Information Administration (EIA), the country's crude oil production continued to peak, reaching a record 13.49 million barrels per day in May, up 24,000 barrels per day compared to April. In the week ending July 25, US crude oil inventories unexpectedly increased by 7.7 million barrels, to 426.7 million barrels, in stark contrast to analysts' forecasts of a 1.3 million barrel decrease. The main reason was a decrease in exports. However, gasoline inventories decreased by 2.7 million barrels, to 228.4 million barrels, much higher than expected, thereby putting pressure on oil prices.
Domestic gasoline prices
Domestic retail prices of gasoline on August 1, specifically as follows:
E5RON92 gasoline: No higher than 19,401 VND/liter
RON95-III gasoline: No higher than VND 19,840/liter
Diesel 0.05S: Not higher than 19,068 VND/liter
Kerosene: Not higher than 18,714 VND/liter
Mazut oil 180CST 3.5S: Not higher than 15,533 VND/kg
The above domestic retail prices of gasoline and oil were jointly adjusted by the Ministry of Industry and Trade and the Ministry of Finance from 3:00 p.m. on July 31. Accordingly, the price of E5RON92 gasoline increased by VND122/liter; RON95-III gasoline increased by VND131/liter; diesel decreased by VND61/liter, kerosene increased by VND86/liter, and fuel oil increased by VND154/kg.
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