On 23/7, Saigon Jewelry Company (SJC) listed the price of gold bars at 120.7 - 122.7 million VND per tael, an increase of 700,000 VND compared to the previous day. This is the fifth consecutive day that the price of gold has risen, reaching its highest point since the end of April.

Bao Tin Minh Chau and state-owned banks also listed similar selling prices to SJC. The difference between buying and selling prices is 2 million VND per tael.

Prices for smooth gold rings also increased. SJC raised the price by 500,000 VND, listing it at 115.5 - 118 million VND per tael. Meanwhile, Bao Tin Minh Chau sold at a higher price, at 117.2 - 120.2 million VND.

Domestic gold prices increased following positive developments in the international market. At the close of trading on 22/7, the spot gold price increased by nearly 35 USD to 3,423 USD per ounce. This was the highest level since June 16th. However, this morning, the price reversed course, decreasing by 0.33% to 3,419 USD per ounce.

Converted at Vietcombank's exchange rate, gold bars are equivalent to 108.5 million VND per tael, over 14 million VND lower than domestic prices.

The gold market is improving due to trade instability and a decrease in US government bond yields. Investors are watching the situation as the deadline for new tariffs on imports to the US approaches (1/8).

The VND/USD exchange rate in Vietnam remained unchanged compared to yesterday. Vietcombank reported the exchange rate at 25,930 – 26,320 VND, the same as Eximbank; BIDV's rate was 25,956 – 26,316 VND. The USD price is currently 3% higher than at the beginning of the year.

Trong Hieu