On the morning of 30/7, Saigon Jewelry Company (SJC) listed gold bar prices at 137 - 140 million dong per tael. This represented a decrease of 1 million dong in the selling rate and 500,000 dong in the buying rate. The spread between buying and selling prices narrowed to 3 million dong. Other domestic brands followed a similar pricing trend.

Plain gold rings also saw adjustments from SJC, currently listed at 136 - 139.5 million dong. PNJ traded these rings around 135.8 - 139.8 million dong. DOJI's buying and selling rates for plain round rings were 137.3 - 141.3 million dong, while Bao Tin Minh Chau offered them at 138 - 142 million dong.

The domestic gold market's decline stands in contrast to international trends, where prices continued to rise. Global gold settled at 4,054 USD per ounce on 3/8, an increase of over 12 USD, and saw a further slight rise of 4 USD this morning. According to experts, domestic gold prices, while following a similar trend, do not fully fluctuate with international rates. Converted at Vietcombank's exchange rate, the global price of this precious metal is equivalent to nearly 129 million dong per tael, resulting in an 11 million dong difference between domestic and international prices.

Gold prices are stabilizing as investors monitor potential talks between the US and Iran, alongside US employment reports, for clues regarding the Federal Reserve's (Fed) interest rate trajectory. Conflicts in the Middle East have pushed energy prices higher, raising inflation concerns. Such concerns could prompt central banks to increase interest rates to curb price pressures. While gold is often seen as an inflation hedge, monetary policy tightening can put downward pressure on its price because it does not pay periodic interest.

In other precious metals, domestic silver bars and ingots rose over 1% today. Phu Quy, DOJI, and Ancarat traded silver bars at 2.16 - 2.24 million dong per tael, equivalent to 57.9 - 59.7 million dong per kilogram.

By Trong Hieu