On the morning of 1/7, Saigon Jewelry Company (SJC) listed the price of gold bars at 118.3 - 120.3 million VND per tael, an increase of 800,000 VND compared to yesterday and the highest since 14/6. Bao Tin Minh Chau, PNJ, and state-owned banks also sold this item at a similar price. The difference between the buying and selling price is two million VND per tael.

Gold bars at SJC's headquarters in District 3, 3/2025. Photo: Quynh Tran

The price of plain gold rings has also been increased by businesses. SJC listed this item at 114 - 116.5 million VND, 500,000 VND higher per tael than yesterday. Meanwhile, Bao Tin Minh Chau listed plain rings at a higher price, at 115 - 118 million VND per tael.

Domestic gold prices have risen in line with the international market. The global price of this precious metal has reached 3,315 USD per ounce, a 0.43% increase this morning.

Converted at Vietcombank's selling exchange rate, the world gold price is equivalent to 105.2 million VND per tael. The difference between domestic and international gold bars is currently around 15 million VND per tael, while the difference for gold rings is about 10 million VND.

Experts say that the rise in world gold prices is due to the continued weakening of the USD. The dollar index (DXY) fell 0.1% today to its lowest level in three years, making gold more affordable for holders of other currencies.

Domestically, Vietcombank listed the USD buying and selling price at 25,920 - 26,310 VND, up more than 10 VND compared to yesterday, equal to the historical peak on 24/6. At Vietinbank, the USD price reached 25,9957 - 26,306 VND, while at Eximbank it was 25,910 - 26,310 VND.

Many investors are also seeking safe-haven assets as the deadline for US President Donald Trump's tariff policies approaches. "The weakening USD, coupled with concerns about the impact if Trump's tariff deadline is not extended, is supporting gold prices at the moment," said Nicholas Frappell, Global Head of Institutional Markets at ABC Refinery.

Trong Hieu