Gold bar and gold ring prices both decreased
At the end of the trading session on July 7, the price of SJC gold bars was listed by large enterprises at 118.5-120.5 million VND/tael (buy - sell), down 400,000 VND in both buying and selling directions compared to before.
The price of plain round rings was adjusted down with a similar amplitude, listed at 113.9-116.4 million VND/tael (buy - sell).
The prices of gold bars and gold rings have all decreased along with the international market. The world gold price is currently trading around 3,331 USD/ounce, down 7 USD. Previously, there was a time when the gold price dropped to nearly 3,300 USD/ounce.
The precious metal posted a nearly 2% gain last week, hitting $3,365 an ounce at one point, buoyed by geopolitical concerns and the US debt situation.
Gold price trend is difficult to predict (Photo: Manh Quan).
According to experts, the trend of gold is considered difficult to predict in the short term. Adam Button, head of currency strategy at trading unit Forexlive.com, said that the prolonged trend of selling USD will support gold. "The USD initially rose after the jobs report, then quickly fell. The trend of selling USD has dominated the first half of the year. If this continues, gold will benefit," he explained.
Meanwhile, Adrian Day, director of Adrian Day Asset Management, said such factors as trade agreements, the possibility of the US Federal Reserve (Fed) cutting interest rates in July, and central banks slowing their gold purchases could put pressure on the precious metal. However, the correction could be shallow and short-lived.
Central rate decreased
The USD-Index - a measure of the greenback's strength against a basket of major currencies - reached 96.98 points, down more than 10% from the beginning of the year.
The State Bank currently lists the central exchange rate at 25,113 VND, down 3 VND compared to last weekend. Last weekend, the central exchange rate set a record. With a 5% margin compared to the central exchange rate, commercial banks are allowed to buy and sell USD in the range of 23,857-26,369 VND.
The exchange rate at major banks is 25,940-26,330 VND (buy - sell), down 20 VND in both directions compared to before. At mid-sized banks, the USD price is 25,970-26,335 VND (buy - sell).
On the free market, foreign exchange points buy and sell US dollars around 26,420-26,500 VND (buy - sell), keeping the selling price the same and decreasing 20 VND in the buying price.
Source: https://dantri.com.vn/lanh-doanh/gia-vang-giam-dong-loat-20250708011129350.htm
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