Gold price on July 11, 2025: Gold increased slightly again

Gold price on July 11, 2025, world gold increased again when investors turned to safe-haven assets such as gold due to concerns about finances and the US budget deficit. Domestic gold recovered this morning after a day of price declines the previous day.

Domestic gold increased slightly

Domestic gold bar prices increased slightly compared to yesterday. On the morning of July 11, gold brands such as DOJI , SJC, PNJ, Bao Tin Minh Chau were buying at 118.8 million VND/tael and selling at 120.8 million VND/tael, an increase of 200,000 VND/tael in both directions. Particularly, Phu Quy SJC brand gold was buying at 700,000 VND lower than other brands, listed at 118.1 million VND/tael for buying and 120.8 million VND/tael for selling, an increase of 200,000 VND/tael in both directions.

Similarly, gold rings also increased slightly compared to yesterday.

Illustration photo. (Photo source: Internet)

Specifically, the listed price of SJC 9999 gold rings is 114.2 million VND/tael for buying and 116.7 million VND/tael for selling, an increase of 200,000 VND/tael in both directions.

DOJI in Hanoi and Ho Chi Minh City markets increased by 200,000 VND/tael in both directions, trading at 115.2 - 117.2 million VND/tael (buy - sell).

Bao Tin Minh Chau brand gold ring price is 115.3 million VND/tael for buying and 118.3 million VND/tael for selling, up 300,000 VND/tael in both directions.

Phu Quy SJC is buying gold rings at 114.2 million VND/tael and selling at 117.2 million VND/tael, an increase of 200,000 VND/tael in both directions.

PNJ brand gold ring price is bought at 114.3 million VND/tael and sold at 117.2 million VND/tael, up 200,000 VND/tael in both directions.

World gold price

According to Kitco, the world gold price recorded at 5:00 a.m. today, Vietnam time, was at 3,314.7 USD/ounce. Today's gold price increased by 0.08% compared to yesterday. Converted according to the USD exchange rate on the free market (26,361 VND/USD), the world gold price is 105.3 million VND/tael (excluding taxes and fees). Thus, the price of SJC gold bars is about 15.5 million VND/tael higher than the international gold price.

The dollar index rose 0.2%, making gold more expensive for investors holding other currencies, Reuters reported. Gold prices could remain range-bound unless there is a major geopolitical escalation, said Daniel Pavilonis, senior market strategist at RJO Futures: “Unless there is some serious development, I don’t see gold going above $3,400 in the short term.”

Illustration photo. (Photo source: Internet)

A day earlier, President Trump announced that he would impose a 50% tariff on imported copper and goods from Brazil, starting August 1. This move was seen as escalating trade tensions and fueling defensive sentiment among investors.

“Gold’s appeal is growing among emerging economies, which see its counterparty risk-free properties as an ideal choice in a world of increasing geopolitical risk,” said Paul Wong, strategist at Sprott Asset Management.

On monetary policy, the minutes of the US Federal Reserve's June meeting showed that only a few members of the Federal Open Market Committee (FOMC) supported a rate cut in July, while most remained concerned about inflation risks from new tax policies. At the same time, economic data showed that the number of applications for unemployment benefits in the US last week unexpectedly fell, reflecting the ability of businesses to retain workers despite some signs of cooling in the labor market.

Among other precious metals, spot silver rose 0.7% to $36.58 an ounce. “A break above $35 opens the door to a move towards $40,” Wong added. Platinum edged up 0.1% to $1,348.45 an ounce, while palladium jumped 2.1% to $1,128.22 an ounce, its highest since July 3.

Mr. Nicholas Frappell, Director of Global Institutional Markets at ABC Refinery, commented that gold prices have recovered thanks to the weakening of the USD and escalating trade tensions.

Investors are looking for safe havens amid concerns about persistent inflation, geopolitical tensions, or potential instability in the global financial system. Gold’s resilience, even in the face of positive economic indicators, underscores its status as a risk-diversifier and store of value in the market.

Ole Hansen, Head of Commodity Strategy at Saxo Bank, said that many factors are driving gold prices higher, predicting that these dynamics could continue to support the precious metal's price in the second half of 2025.

According to him, the positive outlook for gold comes not only from short-term data but also from sustainable macro factors.

Experts at the World Gold Council (WGC) also said that gold prices will continue to benefit from the growing budget deficit in the US and the unstable financial situation, even if there is no specific crisis in the short term.

According to VNA

Source: https://doanhnghiepvn.vn/kinh-te/gia-vang-ngay-11-7-2025-vang-tang-nhe-tro-lai/20250711072531599