Gold price today 7/2/2025
At the time of survey at 4:30 a.m. on July 2, 2025, the gold price was listed by some businesses specifically as follows:
The price of SJC gold bars was listed by Saigon Jewelry Company, Bao Tin Minh Chau, DOJI Group and PNJ at 118.7-120.7 million VND/tael (buy - sell), an increase of 1.2 million VND/tael in both buying and selling directions compared to yesterday.
SJC gold price at Phu Quy was traded by businesses at 118.1-120.7 million VND/tael (buy - sell), gold price increased by 1.3 million VND/tael in buying and increased by 1.2 million VND/tael in selling compared to yesterday.
At Mi Hong Jewelry Company, the price of Mi Hong gold at the time of survey was listed at 119.2-120.2 million VND/tael for buying and selling. Compared to yesterday, the gold price increased by 500,000 VND/tael for buying and 700,000 VND/tael for selling.
World gold price today 7/2/2025 and world gold price fluctuation chart in the past 24 hours
According to Kitco, the world gold price recorded at 4:30 a.m. today, Vietnam time, was at 3,347.04 USD/ounce. Today's gold price increased by 1.82% compared to yesterday. Converted according to the USD exchange rate on the free market (26,359 VND/USD), the world gold price is about 106.3 million VND/tael (excluding taxes and fees). Thus, the price of SJC gold bars is about 14.4 million VND/tael higher than the international gold price.
According to Reuters, the main reason for the increase in gold prices is the weakening of the greenback, partly due to market concerns about fiscal sustainability after President Trump announced a large-scale tax cut and spending bill. Along with that, the uncertainty surrounding ongoing trade agreements also caused investors to turn to safe assets such as gold.
Rhona O'Connell, StoneX's Europe, Middle East and Asia market analyst, said the rise in gold prices was largely driven by buying activity after the previous dip, as well as the impact of a weak US dollar and uncertainty around July 9. However, she also said that the average gold price in the fourth quarter of this year could be around $3,000 an ounce and even fall further by the end of the year.
In Washington, the US Senate is facing many difficulties in passing Mr. Trump's large tax and spending bill, due to internal divisions within the Republican Party, especially concerns about taking on an additional public debt of up to 3,300 billion USD.
In such a context, gold plays an increasingly important role as a traditional safe haven in times of economic and political instability. At the same time, investors are closely monitoring developments from the US government regarding tariff measures.
Treasury Secretary Scott Bessent warned countries could soon receive notice of a sharp increase in US import tariffs on July 9, despite ongoing trade talks.
In addition, the market is also watching US employment reports, with ADP employment data due on Wednesday and non-farm payrolls report due on Thursday, for clues on the next direction of interest rate policy from the US Federal Reserve (Fed).
Speaking at a forum in Portugal, Fed Chairman Jerome Powell said the US economy remains in a good place, and noted that excluding the impact of tax policies, inflation is currently in line with expectations. The market is now expecting the Fed to cut interest rates by a total of 50 basis points this year, starting in September. Rate cuts tend to make gold more attractive to investors because it does not offer a fixed return.
At the same time, some other precious metals also fluctuated. Spot silver increased 0.6% to $ 36.30 / ounce, palladium increased 1.2% to $ 1,111.04 / ounce, while platinum decreased slightly by 0.1% to $ 1,350.78 / ounce.
In another development, HSBC Bank on July 1 raised its average gold price forecast for 2025 from $3,015 to $3,215 per ounce, and for 2026 from $2,915 to $3,125 per ounce, citing high financial risks and government debt.
According to HSBC, gold has proven its role as a safe haven and an effective diversifier in investment portfolios, especially in the context of prolonged uncertainty. The bank predicts a wide range of gold prices for the rest of this year, from $3,100 to $3,600 per ounce, with a year-end price of around $3,175 per ounce in 2025 and $3,025 per ounce in 2026.
However, HSBC also noted that if gold prices continue to exceed $3,500 an ounce, physical demand for jewelry, coins and small gold bars in major markets such as India and China could decline. Conversely, if gold prices fall to around $3,000, central bank buying could pick up again.
Source: https://baohatinh.vn/gia-vang-hom-nay-272025-tang-kha-ca-2-chieu-mua-vao-ban-ra-post290953.html
Comment (0)