Domestic gold price remains stable
At the end of the trading session on July 14, the price of SJC gold bars was listed by large enterprises at 119.5-121.5 million VND/tael (buy - sell, unchanged price). The price of gold rings was also kept unchanged, listed at 115-117.5 million VND/tael (buy - sell).
Domestic gold prices remained “quiet” amid fluctuating world prices and not much breakthrough. In the international market, gold prices were traded around 3,347 USD/ounce, down 7 USD compared to before.
Domestic gold is "calm" (Photo: Hai Long).
According to analysts, gold prices are likely to increase this week but will be difficult to make a breakthrough in the short term. The market is expected to move sideways due to the lack of strong supporting factors. The USD-Index - a measure of the greenback's strength against a basket of major currencies - has remained high at around 97.8 points throughout the past week. This has somewhat limited the increase in gold.
Market focus has now shifted to US inflation data due in the coming days, with many predicting that the cost of living will rise in June amid the trade war initiated by Donald Trump.
Economists expect the consumer price index (CPI) to rise 0.25% month-over-month, or a 2.6% annual increase, according to market data platform FactSet. The core CPI, which excludes volatile items such as food and energy, is forecast to rise 0.3% month-over-month and 3% year-over-year in 2024.
Risk assets could falter if inflation accelerates, delaying interest rate cuts by the US Federal Reserve.
Central rate decreased for 2 consecutive sessions
The State Bank of Vietnam closed yesterday's session listing the central exchange rate at 25,126 VND, down 2 VND from the previous record. With a 5% margin compared to the central exchange rate, commercial banks are allowed to buy and sell USD in the range of 23,869-26,382 VND.
The exchange rate at large banks is 25,900-26,290 VND (buy - sell), down 10 VND in both buying and selling. At medium-sized banks, the USD price is 25,890-26,290 VND (buy - sell).
On the free market, foreign currency exchange points buy and sell USD around 26,360-26,430 VND (buy - sell), down 40 VND for buying and 60 VND for selling compared to before.
Source: https://dantri.com.vn/kinh-doanh/gia-vang-ngay-157-vang-mieng-sjc-dat-1215-trieu-dongluong-20250715013229829.htm
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