At the end of the week, spot gold price stood at 3,335 USD/ounce, while gold futures contract for August 2025 delivery on the Comex floor (New York) closed at 3,346 USD/ounce.

Gold prices were pressured this week by a positive June jobs report. According to the US Department of Labor, the economy created 147,000 jobs, far exceeding expectations of 111,000. At the same time, the unemployment rate fell to 4.1%.

Stronger-than-expected nonfarm payrolls data has largely erased expectations that the Federal Reserve will cut interest rates this month, with markets now pricing in just a 25% chance of a rate cut.

In addition to concerns about public debt, analysis predicts the US dollar could face more challenges next week, as President Donald Trump's global trade war returns to the spotlight.

Trump's 90-day tariff suspension expires on July 9. Although the White House says some progress has been made in trade talks, no agreements have been signed with major partners.

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Domestic gold prices are stable. Photo: Nguyen Hue

According to the Congressional Budget Office (CBO), the proposed new spending bill would increase the budget deficit by more than $3 trillion over 10 years. In the context of the national debt exceeding the alarming $37 trillion threshold, this is raising concerns about continued pressure on the US dollar.

The greenback is currently ending the week at a multi-year low, with the USD index hovering around the 97 mark.

These developments show that the global financial market is still facing many complex fluctuations, in which gold is emerging as a potential safe haven amid macroeconomic and geopolitical uncertainties.

At the end of the session on July 5, the price of SJC gold bars was traded at 118.9-120.9 million VND/tael (buy - sell), unchanged from the previous session.

The price of 1-5 chi SJC gold rings is listed at 114.2-116.7 million VND/tael (buy - sell), unchanged from the previous session. The price of 9999 gold rings at Doji is at 115.5-117.5 million VND/tael.

Thus, the price of SJC gold bars this week increased by about 1.4 million VND/tael for buying. The price of gold rings increased by about 700,000 VND/tael for buying.

Gold Price Forecast

Any pullback is a buying opportunity, said James Stanley, senior market strategist at Forex. Traders can get lost in the day-to-day volatility and lose sight of the bigger picture. Governments will spend until they can't spend anymore, and continued currency depreciation will continue to support gold.

Ole Hansen, head of commodity strategy at Saxo Bank, said gold's decline after the jobs news was not surprising as markets were recalibrating interest rate expectations. However, he stressed that gold's uptrend remains intact, even as prices continue to move sideways.

“Gold may need the prospect of a rate cut to break higher, which means prices remain stuck in the current range,” Hansen said.

He also recommends that gold hold the $3,245 level in the coming weeks to avoid a deeper technical correction. “I remain bullish as the key drivers of gold's strength have not disappeared and will not disappear in the near term,” he said.

Source: https://vietnamnet.vn/gia-vang-hom-nay-6-7-2025-vang-mieng-sjc-tang-1-4trieu-dong-luong-2418603.html