Gold rings skyrocketed, surpassing 76 million VND/tael

Domestic gold price this afternoon 7/2/2024

At the time of survey at 2:00 p.m. on July 2, 2024, the gold price today, July 2, on the trading floors of some companies is as follows:

The price of SJC gold listed by the gold house is 74.98 million VND/tael for buying and 76.98 million VND/tael for selling.

This afternoon, DOJI listed the price of 9999 gold at 74.98 million VND/tael for buying and 76.98 million VND/tael for selling.

At Mi Hong Jewelry Company, the price of Mi Hong gold at the time of survey was listed at 76.20 - 76.98 million VND/tael (buy - sell). The gold price increased by 200,000 VND/tael for buying.

SJC gold price at Bao Tin Minh Chau Company Limited is also traded by the enterprise at 75.50 - 76.98 million VND/tael (buy - sell). Meanwhile, at Bao Tin Manh Hai, it is being traded at 76.00 - 76.98 million VND/tael (buy - sell).

SJC gold bars still did not have much fluctuation in this afternoon's trading session, only Mi Hong gold brand adjusted up slightly by 200,000 VND/tael for buying, the selling price remained unchanged at 76.98 million VND/tael. Currently, the difference between domestic and world gold prices is 4.5 million VND/tael.

Gold ring prices continued to increase in today's trading session, recording an increase along with the world gold price increase. Many businesses have adjusted the price of gold rings to exceed 76 million VND/tael.

Specifically, the price of 9999 round gold rings at DOJI Gold and Gemstone Group is listed at 74.90-76.15 million VND/tael (buy - sell). Compared to the previous trading session, DOJI Gold and Gemstone Group increased by 250,000 VND/tael for both buying and selling.

At Saigon Jewelry Company (SJC), the listed price of gold rings is at 74.05-75.65 million VND/tael (buy - sell). Compared to the previous trading session, SJC Company adjusted the price up by 100,000 VND/tael for both buying and selling. Bao Tin Minh Chau Company applied the price of plain round gold rings at 74.78-76.08 million VND/tael (buy/sell).

The central exchange rate listed by the State Bank is 24,253 VND/USD, up 1 VND/USD. The USD price at commercial banks is traded around 25,215 VND/USD for buying and 25,465 VND/USD for selling.

Gold price today July 2, 2024, SJC gold price, 9999 gold price, 24k gold price, 18k gold price July 2, 2024. Photo: Can Dung

The latest gold price list this afternoon, July 2, 2024 is as follows:

	July 2, 2024 (million dong)		Difference (thousand dong/tael)
	Buy	Sell	Buy	Sell
SJC in Hanoi	74.98	76.98	-	-
DOJI Group	74.98	76.98	-	-
Red Eyelashes	76.20	76.98	+200	-
Bao Tin Minh Chau	75.50	76.98	-	-
Bao Tin Manh Hai	76.00	76.98	-	-

1. DOJI - Updated: 07/02/2024 14:00 - Time of the source website - ▼ / ▲ Compared to yesterday.
Type	Buy	Sell
AVPL/SJC HN	74,980	76,980
AVPL/SJC HCM	74,980	76,980
AVPL/SJC DN	74,980	76,980
Raw material 9999 - HN	74,250 ▲100K	74,850 ▲150K
Raw material 999 - HN	74,150 ▲100K	74,750 ▲150K
AVPL/SJC Can Tho	74,980	76,980

2. PNJ - Updated: 07/02/2024 20:30 - Time of website supply - ▼ / ▲ Compared to yesterday.
Type	Buy	Sell
HCMC - PNJ	73,950	75,600
HCMC - SJC	74,980	76,980
Hanoi - PNJ	73,950	75,600
Hanoi - SJC	74,980	76,980
Da Nang - PNJ	73,950	75,600
Da Nang - SJC	74,980	76,980
Western Region - PNJ	73,950	75,600
Western Region - SJC	74,980	76,980
Jewelry gold price - PNJ	73,950	75,600
Jewelry gold price - SJC	74,980	76,980
Jewelry gold price - Southeast	PNJ	73,950
Jewelry gold price - SJC	74,980	76,980
Jewelry gold price - Jewelry gold price	PNJ Ring (24K)	73,950
Jewelry Gold Price - 24K Jewelry	73,900	74,700
Jewelry Gold Price - 18K Jewelry	54,780	56,180
Jewelry Gold Price - 14K Jewelry	42,450	43,850
Jewelry Gold Price - 10K Jewelry	29,830	31,230

World gold price today 7/2/2024 and world gold price fluctuation chart in the past 24 hours

According to Kitco, the world gold price recorded at 2:00 p.m. today, Vietnam time, was at 2,326.26 USD/ounce. Today's gold price is 4.28 USD/ounce higher than yesterday's gold price. Converted according to the current exchange rate at Vietcombank, the world gold price is about 70.471 million VND/tael (excluding taxes and fees). Thus, the price of SJC gold bars is still 4.509 million VND/tael higher than the international gold price.

Gold price fluctuation chart in the last 24 hours

World gold prices stood at 2,326.26 USD/ounce, up more than 4 USD/ounce compared to the same time yesterday. The yellow precious metal increased slightly thanks to strong buying power from investors, and at the same time, was supported by the downward trend of the USD. The DXY index - measuring the fluctuations of the greenback against a basket of other currencies - is currently at 105.562 points.

The market is currently pricing in a 64% chance of a Fed rate cut in September and another cut in December. Lower interest rates reduce the opportunity cost of holding bullion.

Gold Price Forecast

FxPro senior market analyst Alex Kuptsikevich is not optimistic about the gold market. He believes that the current monetary policy stance of the US Federal Reserve (FED) could trigger another sell-off in the market.

Meanwhile, Naeem Aslam - Chief Investment Officer of Zaye Capital Markets - expressed optimism about the precious metal. He stated that if the FED loosens monetary policy, it will put pressure on the USD and push gold prices up.

Currently, the market is waiting for the speech of FED Chairman Jerome Powell, the minutes of the FED's latest policy meeting to be released on Wednesday and the US non-farm payroll data to be released on Friday.

Source: https://congthuong.vn/gia-vang-chieu-nay-272024-vang-nhan-tang-vun-vut-vuot-muc-76-trieu-dongluong-329518.html