Gold price this afternoon, July 11: Domestic and world gold prices increased sharply in series

Update SJC gold price

As of 3:00 p.m., the price of SJC gold bars was listed by Saigon Jewelry Company at 119-121 million VND/tael (buy - sell), an increase of 200,000 VND/tael in both buying and selling directions. The difference between buying and selling prices was at 2 million VND/tael.

DOJI Group listed the price of SJC gold bars at 119-121 million VND/tael (buy - sell), an increase of 200,000 VND/tael in both buying and selling directions. The difference between buying and selling prices is at 2 million VND/tael.

Meanwhile, Bao Tin Minh Chau listed the price of SJC gold bars at 119-121 million VND/tael (buy - sell), an increase of 200,000 VND/tael in both buying and selling directions. The difference between buying and selling prices is at 2 million VND/tael.

Phu Quy Gold and Gemstone Group listed the price of SJC gold bars at 118.3-121 million VND/tael (buy - sell), an increase of 200,000 VND/tael in both buying and selling directions. The difference between buying and selling prices is at 2.7 million VND/tael.

Price of round gold ring 9999

As of 3:00 p.m., DOJI Group listed the price of gold rings at 115.5-118.5 million VND/tael (buy - sell), an increase of 300,000 VND/tael for buying and an increase of 1.3 million VND/tael for selling. The difference between buying and selling is 3 million VND/tael.

Bao Tin Minh Chau listed the price of gold rings at 115.7-118.7 million VND/tael (buy - sell), an increase of 400,000 VND/tael in both directions. The difference between buying and selling is 3 million VND/tael.

Phu Quy Gold and Gemstone Group listed the price of gold rings at 114.7-117.7 million VND/tael (buy - sell), an increase of 500,000 VND/tael in both directions. The difference between buying and selling is 3 million VND/tael.

World gold price

At 3:00 p.m., the world gold price was listed around 3,334.7 USD/ounce, up 6.79 USD/ounce compared to 1 day ago.

Converted according to the USD exchange rate at Vietcombank (26,270 VND/USD), the world gold price is about 109.06 million VND/tael (excluding taxes and fees). Thus, the price of gold bars is 11.94 million VND/tael higher than the international gold price.

Gold price forecast

Gold prices edged up on July 11 after US President Donald Trump announced new tariffs on Canadian goods and threatened to extend tariffs to other trading partners. However, gains were capped by a stronger US dollar amid escalating global trade tensions.

Specifically, spot gold price increased 0.2%, while gold futures price in the US increased 0.7% to 3,349.1 USD/Ounce.

Mr. Trump announced that the United States would impose a 35% tariff on some imports from Canada and plans to impose 15-20% tariffs on most other trading partners. The move follows the announcement of a 50% tariff on copper imports from the United States and items from Brazil, along with tariff warnings to several other countries. All new tariffs will take effect from August 1.

Trump’s tariffs have boosted demand for gold as a safe haven, helping prices rise slightly, but the rally may not be sustained if investors expect trade talks to ease tensions, said Tim Waterer, market analyst at KCM Trade.

The dollar rose the most since late February, making gold more expensive for international buyers. Mr. Waterer said the parallel rise in the dollar and gold prices could limit the precious metal's rise.

The latest data showed that the US jobless claims unexpectedly fell to a seven-week low. This reflects a stable labor market despite signs of slowing, meaning the Federal Reserve (Fed) is in no rush to cut interest rates. Gold is traditionally seen as a safe haven asset in times of economic uncertainty and benefits from low interest rates.

Demand for physical gold in Asian markets remained subdued as price volatility kept investor sentiment cautious. Meanwhile, silver rose 1% to $37.41 an ounce, platinum fell 0.3% to $1,356.83, and palladium edged up 0.3% to $1,145.72.