World gold price drops sharply due to USD recovery
On the Kitco floor, spot gold at 9:00 a.m. on July 7 was trading around $3,317.0-$3,317.5 per ounce. Last week, the precious metal was anchored at $3,336.6 per ounce, showing a significant decline in the first trading session of the week.
The world gold price today fell sharply and fell below the threshold of 3,320 USD/ounce in the context of the USD remaining at a low level. At the time of the survey, the DXY index measuring the fluctuations of the greenback with 6 key currencies (EUR, JPY, GBP, CAD, SEK, CHF) decreased by 0.15%, at 97.03.
World gold prices are under pressure from the recovering USD as Israel agreed to negotiate a ceasefire with Hamas. According to BBC, the Israeli Prime Minister's Office stated on July 6 that the decision to agree to negotiations was made after assessing the current situation with the aim of promoting the hostage exchange process and achieving a ceasefire in the Gaza Strip.
According to the Daily Mail, the proposal includes a 60-day ceasefire, during which Hamas will release 10 Israeli hostages alive and return 18 hostages' bodies in exchange for Israel releasing 1,000 Palestinian prisoners. In addition, during the ceasefire period, the two sides will conduct negotiations aimed at completely ending the conflict.
Domestic gold prices simultaneously decreased
As of 9:00 a.m. today (July 7), the domestic gold market has decreased slightly compared to yesterday. Accordingly, the price of 9999 gold has decreased by 400,000 VND/tael in both buying and selling directions.
SJC gold price at SJC Company ( Hanoi ) is listed at 118.5-120.5 million VND/tael (buy - sell). 9999 gold price at Phu Quy Group is listed around 118.5-120.5 million VND/tael.
PNJ gold price in Hanoi and Ho Chi Minh City is traded at 118.5-120.5 million VND/tael. Gold bar price at Bao Tin Minh Chau is traded at 118.5-120.5 million VND/tael.
DOJI gold price in Hanoi and Ho Chi Minh City is listed at around 118.5-120.5 million VND/tael. Mi Hong gold price is being purchased at 118.5-120.5 million VND/tael.
Thus, the domestic gold price today, July 7, 2025 at 9:00 am is listed around 118.5-120.5 million VND/tael.
Gold price rings and jewelry
SJC 9999 gold rings of 1 chi, 2 chi, 5 chi have a buying price of 113.9 million VND and a selling price of 116.4 million VND/tael. SJC 9999 gold rings of 0.5 chi have a buying price of 113.9 million VND and a selling price of 116.5 million VND/tael.
99.99% jewelry gold (24K gold) has a buying price of 113.9 million VND and a selling price of 115.8 million VND/tael. 99% jewelry gold (23.7K gold) has a buying price of 110.15 million VND and a selling price of 114.65 million VND/tael.
75% jewelry gold (18K gold) has a buying price of 80.1 million VND and a selling price of 87 million VND/tael. 68% jewelry gold (680 gold) has a buying price of 72 million VND and a selling price of 78.9 million VND/tael.
Detailed gold price list of all types
Gold price trend forecast
The US dollar remains low and continues to keep gold prices from falling too far despite the stock market rally, suggesting that the inverse correlation between gold and the US dollar is still working as a balancing factor.
The Fed is expected to cut interest rates three times in 2025, which will create favorable conditions for gold prices if the USD continues to weaken. Many experts believe that gold prices may fall slightly to the support zone of $3,250 to $3,275 before continuing to increase in the long term.
In the context of short-term fluctuations in the gold market, investors need to closely monitor international political developments, especially the conflict in the Middle East and the Fed's monetary policy.
Source: https://baonghean.vn/gia-vang-hom-nay-7-7-2025-gia-vang-sjc-doji-btmc-vang-nhan-dong-loat-giam-nhe-theo-gia-vang-the-gioi-10301757.html
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