Gold price on July 12, 2025: Gold rings break out, increase up to 1.3 million VND/tael

Gold price on July 12, 2025, SJC increased sharply, jumping to 121 million VND/tael; gold ring price surged, increasing to 1.3 million VND/tael in the selling price.

Gold ring breakthrough

Gold bar prices continue to increase today. DOJI , SJC, PNJ, Bao Tin Minh Chau brands simultaneously listed gold bar prices at 119 - 121 million VND/tael (buy - sell), an increase of 200 thousand VND/tael in both directions.

Phu Quy SJC is buying 700 thousand VND/tael lower at 118.3 million VND/tael and selling 121 million VND/tael.

In the same direction as gold bars, the price of gold rings also increased compared to early this morning.

Illustration photo. (Photo source: Internet)

Specifically, SJC listed the price of gold rings at 114.5 - 117 million VND/tael (buy - sell), an increase of 300 thousand VND/tael in both directions.

DOJI buys gold rings at 115.5 million VND/tael (up 300 thousand VND/tael) and sells at 118.5 million VND/tael (up 1.3 million VND/tael).

PNJ buys gold rings at 114.9 million VND/tael (up 600 thousand VND/tael) and sells at 117.9 million VND/tael (up 700 thousand VND/tael).

Bao Tin Minh Chau gold rings increased by 400 thousand VND/tael in both directions, currently trading at 115.7 - 118.7 million VND/tael (buy - sell).

Phu Quy Group listed the price of gold rings at 114.7 - 117.7 million VND/tael (buy - sell), an increase of 500 thousand VND/tael in both directions.

World gold price

According to Kitco, the world gold price recorded at 5am today, Vietnam time, was 3,361.07 USD/ounce. Today's gold price increased by 1.4% compared to yesterday. Converted according to the USD exchange rate on the free market (26,363 VND/USD), the world gold price is 106.8 million VND/tael (excluding taxes and fees). Thus, the price of SJC gold bars is about 14.2 million VND/tael higher than the international gold price.

Global stock markets fell after Trump announced that the US would impose a 35% tariff on imports from Canada next month. He is also considering imposing tariffs of 15-20% on most other trading partners. This week, Trump also announced a 50% tariff on copper and goods from Brazil.

“We are in a phase where the ‘uncertainty premium’ has returned to the market, and this is helping gold attract safe-haven flows,” said Aakash Doshi, global head of gold strategy at State Street Global Advisors. “I think in the third quarter, gold prices are likely to fluctuate in the range of $3,100 - $3,500 an ounce. After a very strong first half of the year, now is the time for the market to enter the accumulation phase.”

Illustration photo. (Photo source: Internet)

Meanwhile, US Federal Reserve Governor Christopher Waller stressed that the Fed could cut interest rates at its policy meeting later this month. The market is now expecting the Fed to cut a total of 50 basis points between now and the end of the year.

While gold edged up slightly, other precious metals rallied more strongly. Spot silver rose 2.1% to $37.79 an ounce; platinum rose 1.4% to $1,379.15 and palladium rose 2.6% to $1,171.18 an ounce.

According to traders, after Mr. Trump's copper tariff announcement this week, the price gap between silver, platinum, and palladium futures in the U.S. and benchmarks in London widened, causing borrowing rates to spike.

“Investors had to liquidate positions on the NYMEX/COMEX and were forced to borrow to cover in the counter market,” said a precious metals trader. “However, this fluctuation did not have much impact on the gold market.”

Gold continued to consolidate its position as the top safe-haven asset, recording its sixth consecutive month of gains, with a cumulative year-to-date gain of 25.86 percent, reports showed.

This strong rally shows that investor confidence in gold is increasingly strengthened amid persistent structural risks in global financial markets.

One of the key drivers of gold demand is the strategic shift by central banks, especially from emerging markets and developing economies (EMDEs).

In the context of complex geopolitics and macroeconomic fluctuations, diversifying foreign exchange reserves into gold is considered a prudent step, helping these countries increase their autonomy and minimize the impact of US monetary and fiscal policies.

Commodity analysts at Metals Focus predict little downside for gold in the second half of this year.

While the global economy appears to have avoided a full-blown trade war, US tariffs are expected to remain at record highs for some time, creating an uncertain economic environment that has investors turning to gold as a safe haven.

According to VNA

Source: https://doanhnghiepvn.vn/kinh-te/gia-vang-ngay-12-7-2025-vang-nhan-but-pha-tang-toi-1-3-trieu-dong-luong/20250712083630925