As of 9:30 h on 14/7, Saigon Jewelry Company (SJC) adjusted gold bar prices two times, now listing them at 144,1 - 147,1 million dong per tael. Over the past two days, the precious metal dropped a total of 3,1 million dong.

The buy-sell spread remained around 3 million dong per tael. Other brands also quoted gold bar prices similar to SJC.

For plain rings, SJC also adjusted prices two times, to 143,1 - 146,6 million dong per tael, 1,3 million dong lower than yesterday. PNJ and DOJI traded these at 143 - 146,5 million dong, while Bao Tin Minh Chau traded around 142 - 146 million dong.

Domestic gold prices decreased in line with the international market's downward trend. At the close of trading on 13/7, each ounce of world spot gold fell 119 USD to 4,000 USD. By 9 h this morning, prices recovered 0,36% to 4,014 USD.

Converted at Vietcombank's exchange rate, world gold is equivalent to 128 million dong per tael. This means domestic prices are over 19 million dong higher than international prices.

The market's decline followed US President Donald Trump's announcement to re-impose a naval blockade on Iran. This action pushed oil prices higher, sparking inflation concerns and the possibility of the US maintaining high interest rates for a longer period.

Last week, analysts at Bank of America, the second largest bank in the US, lowered their average gold forecast for 2026 by 14%, from 5,093 USD to 4,360 USD per ounce. The bank believes the Federal Reserve (Fed) will raise interest rates three more times this year, even if inflation pressure eases, making gold less appealing. However, experts remain optimistic about long-term prices.

Silver bar and bullion prices also decreased by 1,6% today compared to yesterday. Phu Quy, DOJI, and Ancarat listed this metal at 2,18 - 2,24 million dong per tael, equivalent to 58,1 - 59,9 million dong per kg.

Trong Hieu