Updated gold price at the end of session 6.8: Under pressure from the USD

Khương Duy |

Updated gold price at the end of session 6.8: World gold is under pressure as the USD strengthens. Domestic gold fluctuated less than a day ago.

SJC gold bar price

As of 10:25 p.m., the price of SJC gold bars was listed by Saigon Jewelry Company at VND122.4-123.8 million/tael (buy - sell), an increase of VND200,000/tael for buying and unchanged for selling. The difference between buying and selling prices is at 1.4 million VND/tael.

Dien bien gia vang SJC nhung phien giao dich gan day. Bieu do: Khuong Duy
SJC gold price developments in recent trading sessions. Chart: Khuong Duy

DOJI Group listed at 122.2-123.8 million VND/tael (buy in - sell out), unchanged in both directions. The difference between buying and selling prices is at 1.6 million VND/tael.

Meanwhile, Bao Tin Minh Chau listed the price of SJC gold bars at 122.4-123.8 million VND/tael (buy - sell), an increase of 200,000 VND/tael for buying and kept the same for selling. The difference between buying and selling prices is at 1.4 million VND/tael.

Phu Quy Jewelry Group listed the price of SJC gold bars at 121.2-123.8 million VND/tael (buy in - sell out), unchanged in both directions. The difference between buying and selling prices is at 2.6 million VND/tael.

9999 gold ring price

As of 7:00 p.m., DOJI Group listed the price of gold rings at 117.5-120 million VND/tael (buy in - sell out), unchanged in both directions. The difference between buying and selling is 2.5 million VND/tael.

Bao Tin Minh Chau listed the price of gold rings at 117.8-120.8 million VND/tael (buy in - sell out), unchanged. The difference between buying and selling is 3 million VND/tael.

Dien bien gia vang nhan nhung phien giao dich gan day. Bieu do: Khuong Duy
Gold ring price developments in recent trading sessions. Chart: Khuong Duy

Phu Quy Gold and Stone Group listed the price of gold rings at 116.5-119 seven million VND/tael (buy in - sell out), unchanged in both directions. The difference between buying and selling is 3 million VND/tael.

World gold price

The world gold price was listed at 10:25 p.m. at 3,363.9 USD/ounce.

Dien bien gia vang the gioi nhung phien giao dich gan day. Bieu do: Phan Anh
World gold price developments in recent trading sessions. Chart: Phan Anh

Gold price forecast

World gold prices fell slightly on Wednesday due to the stronger USD, in the context of investors being cautious and not making major moves before US President Donald Trump announced the appointment decisions at the Federal Reserve (FED).

Gold has previously recovered from a weekly low in the previous session, after weak US employment data increased expectations of the Fed cutting interest rates in September - a factor that reduces the attractiveness of gold to investors holding other currencies.

Gold is stuck between opposite forces. Lower bond yields are a supporting factor, but the USD remains strong despite being sold off on Friday. This creates the current range of fluctuations, as the market awaits more obvious momentum, said Mr. Ilya Spivak, Head of Global Macro at Tastylive.

US President Donald Trump said on Tuesday that he will soon announce a temporary replacement for Fed Governor Adriana Kugler - who announced his resignation on Friday, as well as nominate him for the position of Fed Chair for the next term.

The CME FedWatch tool now shows that the probability of the Fed cutting interest rates in September has increased to nearly 88%, after weaker-than-expected employment data on Friday.

Regarding trade, Mr. Donald Trump once again mentioned the possibility of imposing higher tariffs on goods from India because the country continues to buy oil from Russia. New Delhi called the statement "unreasonable" and affirmed that it would protect national economic interests, increasing trade tensions between the two countries.

In other developments, the latest gold statistics from the World Gold Council (WGC) show that demand for gold from countries remained stable in June, ending the first half of the year with a positive performance.

Mr. Krishan Gopaul - senior EMEA analyst at WGC - said: "Central banks reported net buying 22 tons of gold in June through the IMF and other public data sources. Based on available data, demand has increased slightly monthly for the third consecutive month.

According to Mr. Gopaul, central banks have net bought a total of 123 tons of gold in the first half of 2025, down slightly compared to the same period in 2024.

The Central Bank of Uzbekistan was the biggest buyer in the month, ending a four-month streak of net selling.

The National Bank of Kazakhstan is also a significant buyer, while other countries have more modest purchases.

Uzbekistan bought 9 tonnes of gold in June, Kazakhstan bought 7 tonnes. Other notable gold buyers include the Czech Republic, China and Türkiye - each buying 2 tons, while Myanmar, Qatar, the Philippines and the Kyrgyz Republic added 1 ton, he said.

Note: Gold price data is compared to a day earlier.

See more news related to gold prices HERE...

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