Gold price up to 121 million VND/tael

(Dan Tri) - The price of gold bars and gold rings increased this morning, the selling price in the afternoon reached 121 million VND/tael. The central exchange rate increased by 8 VND.

Gold bar prices skyrocket

Opening the trading session on July 8, the price of SJC gold bars was listed by large enterprises at 119-121 million VND/tael (buy - sell), an increase of 500,000 VND in both buying and selling directions compared to before. The price of plain round rings was adjusted to increase with a similar amplitude, listed at 114.4-116.9 million VND/tael (buy - sell).

The world gold price is currently around 3,331 USD/ounce, down 7 USD. Previously, there was a time when the gold price fell to nearly 3,300 USD/ounce. The precious metal last week recorded an increase of nearly 2%, at one point reaching 3,365 USD/ounce due to concerns about geopolitics and the US public debt situation.

Gold price trend is difficult to predict (Photo: Manh Quan).

According to experts, the trend of gold is considered difficult to predict in the short term. Adam Button, Director of Currency Strategy at trading unit Forexlive.com, said that the prolonged trend of selling USD will support gold. "The USD initially rose after the jobs report, then fell rapidly. The trend of selling USD has dominated the first half of the year. If this continues, gold will benefit," he explained.

Meanwhile, Adrian Day, director of Adrian Day Asset Management, said factors such as trade agreements, the possibility of the US Federal Reserve (Fed) cutting interest rates in July, and central banks slowing down gold purchases could put pressure on the precious metal. However, the correction could be shallow and short-lived.

Central rate decreased

The USD-Index - a measure of the greenback's strength against a basket of major currencies - hit 96.98 points, down more than 10% from the beginning of the year.

The State Bank this morning listed the central exchange rate at 25,121 VND, up 8 VND compared to yesterday. With a 5% margin compared to the central exchange rate, commercial banks are allowed to buy and sell USD in the range of 23,864-26,377 VND. The exchange rate at large banks is 25,920-26,305 VND (buy - sell). At mid-sized banks, the USD price is 25,915-26,305 VND (buy - sell).

On the free market, foreign currency exchange points buy and sell USD around 26,420-26,500 VND (buy - sell), unchanged from before.

Source: https://dantri.com.vn/kinh-doanh/gia-vang-len-121-trieu-dongluong-20250708011129350.htm