Gold price this afternoon, July 2, 2025: Domestic and world gold prices remain at their highest level in many weeks

Domestic gold price today July 2, 2025

As of 4:30 p.m. on July 2, 2025, the domestic gold bar price remained at its highest level in the past week. Specifically:

DOJI Group listed the price of SJC gold bars at 118.7-120.7 million VND/tael (buy - sell), the price remained unchanged in both buying and selling directions compared to yesterday.

At the same time, the price of SJC gold bars was listed by Saigon Jewelry Company Limited - SJC at 118.7-120.7 million VND/tael (buy - sell), the price remained unchanged in both buying and selling directions compared to yesterday.

At Mi Hong Jewelry Company, the price of Mi Hong gold at the time of survey was listed at 119.5-120.5 million VND/tael for buying and selling. Compared to yesterday, the gold price increased by 300 thousand VND/tael for buying - unchanged for selling.

SJC gold price at Bao Tin Minh Chau Company Limited is traded by businesses at 118.7-120.7 million VND/tael (buy - sell), the price remains unchanged in both buying and selling directions compared to yesterday.

SJC gold price at Phu Quy is traded by businesses at 118.1-120.7 million VND/tael (buy - sell), gold price remains unchanged in both buying and selling directions compared to yesterday.

As of the afternoon of July 2, 2025, the price of 9999 Hung Thinh Vuong round gold rings at DOJI was listed at 115.4-117.4 million VND/tael (buy - sell); the price remained unchanged in both buying and selling directions compared to yesterday.

Bao Tin Minh Chau listed the price of gold rings at 115.5-118.5 million VND/tael (buy - sell); the gold price remained unchanged in both buying and selling directions compared to yesterday.

The latest gold price list today, July 2, 2025 is as follows:

World gold price today July 2, 2025 and world gold price fluctuation chart in the past 24 hours

According to Kitco, the world gold price recorded at 4:30 p.m. on July 2, Vietnam time, was 3,336.27 USD/ounce. Today's gold price decreased by 3.9 USD/ounce compared to yesterday. Converted according to the USD exchange rate at Vietcombank (26,323 VND/USD), the world gold price is about 109.35 million VND/tael (excluding taxes and fees). Thus, the price of SJC gold bars is 11.35 million VND/tael higher than the international gold price.

Gold prices remained stable as investors awaited the US jobs report and weighed Federal Reserve Chairman Jerome Powell's cautious comments on the possibility of interest rate cuts. At the same time, a weaker US dollar also supported gold prices, as gold, priced in US dollars, becomes cheaper for holders of other currencies.

Specifically, the spot gold price stood at $3,336.27/ounce, while the US gold futures price also stabilized at $3,346. The USD index (.DXY) fell to its lowest level in more than three years.

Gold is in a correction phase after posting its biggest gain in two weeks, according to Ilya Spivak, an analyst at Tastylive. 'The overall trend remains bullish, with Fed policy expectations being the key factor,' he said.

Fed Chairman Jerome Powell reiterated that the US central bank will wait and see how tariffs affect inflation before deciding to cut interest rates, ignoring President Donald Trump's call for an immediate and aggressive rate cut.

The number of job openings in the US unexpectedly rose in May, but the rate of hiring fell, suggesting the labor market is slowing due to uncertainties from the Trump administration's tariff policies, the latest data showed.

Investors are looking ahead to the US ADP jobs report (due later in the day) and Nonfarm Payroll (NFP) data on Thursday for more information on the state of the labor market. Spivak said: "The biggest risk to gold prices is if the NFP data is stronger than expected, but that is unlikely."

Meanwhile, the US Senate Republicans have just passed President Trump's tax and spending bill, which includes tax cuts, reductions in social security programs and increased military spending, while adding $3.3 trillion to the public debt.

On trade, Trump expressed optimism about the possibility of reaching a trade deal with India, but expressed skepticism about a similar deal with Japan. He also affirmed that he would not extend the time for trade negotiations beyond the July 9 deadline.

Besides gold, spot silver prices remained unchanged at $36.06 an ounce, while platinum edged up 0.1% to $1,352.50. Palladium prices rose 1.3% to $1,114.16.

Gold price forecast

Gold prices are under some corrective pressure after the latest data from the US labor market showed many positive signs. According to the JOLTS report, the number of new jobs created in May increased to 7.77 million, much higher than expected and reaching the highest level since January this year. This shows that the demand for recruitment in the US is still very strong.

The manufacturing PMI also rose to 49 in June, beating expectations, suggesting a slowdown in the pace of contraction in the manufacturing sector thanks to improvements in inventories and output. However, the figure remained below the 50 level that separates growth from recession.

These positive data have reduced market expectations that the US Federal Reserve (Fed) will cut interest rates soon. Although gold prices have fallen from recent peaks, they remain above the $3,300/ounce mark thanks to a weaker US dollar. In addition, falling US Treasury yields also create favorable conditions for gold, especially if the Fed decides to cut interest rates in the future.

Gold is benefiting from its role as a safe haven amid concerns about the US fiscal situation, said Ricardo Evangelista, senior analyst at brokerage firm ActivTrades. At the same time, uncertainty over tariff policy has increased, especially as the Trump administration has yet to make a final decision before the July deadline.

Precious metal prices have risen sharply in the first half of 2025, after rising 20% ​​in 2024, according to Jeetendra Khadan, senior economist, and Kaltrina Temaj, researcher at the World Bank's Prospects Group.

The rally was largely led by gold, which hit a near record high in mid-June amid heightened geopolitical tensions and global economic uncertainty. Silver and platinum also posted significant gains, and are expected to remain at elevated levels in 2025 and 2026.

Gold prices rose nearly 25% in the first six months of 2025, driven largely by strong demand due to persistent policy uncertainty and geopolitical tensions, experts said. Gold ETF inflows rebounded sharply in the first quarter of 2025, pushing investment demand to its highest level since 2022. Continued purchases by central banks also supported prices.

In the short term, gold demand is expected to continue to rise as global uncertainty and geopolitical risks remain high. Gold prices are forecast to increase by around 35% year-on-year in 2025, before moderating in 2026 as some uncertainties are resolved.

However, gold prices are still expected to remain much higher than in the previous period, specifically about 150% higher than the average level in the period 2015-2019. World Bank experts also warned that the risk of further price increases remains high, as geopolitical tensions could persist and continue to impact the market.