On the morning of 18/7, Saigon Jewelry Company (SJC) listed gold bar prices at 144.5 - 147.5 million dong per tael, 900,000 dong higher than yesterday's closing. The spread between buying and selling prices remained at 3 million dong per tael. Other brands also made similar adjustments to SJC.

For plain gold rings, SJC also raised prices by 900,000 dong compared to yesterday, reaching 143 - 146.5 million dong per tael. PNJ sold the same item at the same price as SJC, but bought it for 200,000 dong less, listed at 142.5 - 146.5 million dong. Bao Tin Minh Chau traded plain round rings at 142.6 - 146.6 million dong.

Domestic gold prices rose in line with international price increases. At the close of trading on 17/7, each ounce of world gold increased by 42 USD to 4,017 USD per ounce. Converted at Vietcombank's exchange rate, the price of this precious metal is equivalent to 128 million dong per tael. Thus, domestic gold is nearly 19 million dong higher than the international price.

The market moved up this weekend due to renewed "bottom fishing" activities, which helped stabilize gold after a sharp decline on 17/7. However, gold prices recorded their largest weekly drop in nearly two months, driven by escalating tensions between the US and Iran, which pushed energy prices higher.

This continued to raise inflation concerns and strengthened expectations of the US Federal Reserve (Fed) increasing interest rates. Additionally, the appreciating US dollar on 16/7 and 17/7 made gold bullion more expensive for foreign buyers.

Silver bar and bullion prices also increased by nearly 1% today compared to yesterday. Phu Quy and DOJI both listed this metal at 2.12 - 2.19 million dong per tael, equivalent to 56.6 - 58.4 million dong per kg.

Trong Hieu