Gold price today July 12: Continue to increase

Domestic gold prices continued to rise on July 12, with SJC gold bars surpassing the 121 million VND/tael mark. The increase also occurred in the world market as gold benefited from risk aversion after Mr. Trump's announcement of new tariffs.

Saigon Jewelry Company (SJC) listed gold bars at 119 - 121 million VND/tael (buy - sell), an increase of 200,000 VND/tael in both directions compared to the previous session. The difference between buying and selling is 2 million VND/tael.

Similarly, Phu Nhuan Jewelry Company (PNJ), Bao Tin Minh Chau brand and DOJI Group also listed SJC gold bars at 119 - 121 million VND/tael (buy - sell), an increase of 200,000 VND/tael compared to yesterday.

For gold rings, DOJI Group listed Hung Thinh Vuong 9999 round gold rings at 115.5 - 117.5 million VND/tael (buy - sell); this price was adjusted by DOJI to increase by 500,000 VND/tael in both buying and selling directions compared to yesterday. The difference between buying and selling is 2 million VND/tael.

Saigon Jewelry Company listed gold rings at 114.5 - 117 million VND/tael (buy - sell), this price was increased by SJC by 300,000 VND/tael for both buying and selling compared to yesterday. The difference between buying and selling at SJC is 2.5 million VND/tael.

Meanwhile, gold rings at Bao Tin Minh Chau are listed at 115.7 - 118.7 million VND/tael (buy - sell). This gold shop also increased 400,000 VND/tael in both buying and selling compared to yesterday. The difference between the two buying and selling prices is 3 million VND/tael.

Gold rings increased by half a million VND/tael

The world gold price recorded an increase of 1.27% last week, in the context of the global market reacting to the latest statement from former US President Donald Trump on trade policy. Specifically, Mr. Trump said that he would impose a 35% tax on imported goods from Canada starting next month, and at the same time consider imposing a 15-20% tax on many other trading partners.

Commenting on this development, Mr. Aakash Doshi - gold strategy expert at State Street Global Advisors said: "The market is witnessing the return of instability and gold is playing its role as a safe haven asset." According to Mr. Doshi, after a strong growth period in the first half of the year, gold prices are entering a period of adjustment and may fluctuate between 3,100 - 3,500 USD/ounce in the third quarter of 2025.

Demand for physical gold in Asian markets remained low this week due to cautious sentiment about price fluctuations. In China, domestic gold prices remained significantly higher than world prices. Meanwhile, the price gap in the Indian market narrowed compared to last week.

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