Gold rebounds as USD weakens

The price of the precious metal gold has gone down because the USD has dropped to 100 points, to 99.70 points this morning. The market is also closely following the important debate on US President Donald Trump's tax reduction bill.

Gold rebounds as USD weakens.

Tariff tensions have already caused sharp moves in currencies recently, with a 90-day tariff reprieve for US trading partners coming to an end.

Citigroup predicts that the USD may continue to depreciate after the G7 meeting this week. Analysts say that the US does not intend to weaken the greenback, but the process of lowering taxes and pressure from partners may weaken the USD in the near future.

Meanwhile, assessments from financial analysts show that the US economic outlook remains weak despite the cooling of the US-China trade war. At the same time, the increase in gold prices stems from the tense geopolitical situation. According to CNN, US intelligence said Israel is interested in Iran's nuclear facilities.

The geopolitical situation is complicated with Israel preparing to attack Iran's nuclear facilities. Gold is considered a safe investment channel in times of economic and geopolitical instability and has actually increased sharply in recent times.

The increase in international gold prices has led to an increase in SJC gold bar prices, listed at 119.3-121.3 million VND/tael (buy-sell), an increase of nearly 1 million VND/tael for buying and about 400 VND/tael for selling. The difference between buying and selling gold rings at companies remains at 3 million VND/tael. At the same time, compared to the international price converted according to the exchange rate listed in banks, SJC gold is still 17 million VND/tael higher.

The reason why the domestic price of SJC gold bars is always higher than the international price, according to financial analysts, is due to the imbalance between supply and demand. Supply is scarce while domestic gold buying power still appears and increases, even though gold buyers know that the domestic price is currently higher than the world price, which is risky.

Analysts say that when the supply of SJC gold bars on the market has not appeared, the expensive price of domestic gold compared to the world price has not been able to be shortened, so the risk is always pushed to gold buyers, while gold traders benefit, due to the widening of the buying and selling margin of 2-3 million VND/tael.

In its report to the National Assembly, the State Bank also confirmed that the supply of gold bars on the market has not increased since the beginning of 2025. The foreign exchange market and the gold market are relatively stable, so the State Bank does not have to intervene in the market.

However, the operator said that the reason why domestic gold prices are higher than world prices is due to the expectation of world gold prices increasing, and at the same time, it does not rule out the possibility that some businesses and individuals are taking advantage of market fluctuations to speculate, inflate prices, and profit.

This morning, the State Bank reduced the central exchange rate by 7 VND, down to 24,955 VND/USD. Meanwhile, commercial banks increased the USD price by 10 VND, Vietcombank bought at 25,760 - 25,790 VND, sold at 26,150 VND.

Source: https://baodautu.vn/vang-tang-manh-tro-lai-khi-usd-suy-yeu-d288480.html