On the morning of July 9, 2026, gold prices in Vietnam experienced a significant decline, with both SJC gold bars and plain gold rings dropping by 1.2 to 1.5 million VND per tael. As of 6:00 AM, Phu Quy Gold and Gemstone Group listed SJC gold at 145-148.5 million VND per tael for buying and selling, marking a decrease of 1.5 million VND for both transactions. The price difference between buying and selling stood at 3.5 million VND.

DOJI also reported SJC gold prices at 145.5-148.5 million VND per tael, reflecting the same drop of 1.5 million VND. Meanwhile, Bao Tin Minh Chau listed the prices at 144.3-148.3 million VND per tael, with a decrease of 1.2 million VND.

For plain gold rings, Phu Quy Gold and Gemstone Group set the price at 145-148 million VND per tael, also down by 1.5 million VND. DOJI's pricing for plain gold rings matched this reduction, while Bao Tin Minh Chau noted a price of 144.3-148.3 million VND per tael.

Internationally, gold prices were around 4,062.1 USD per ounce, reflecting a decrease of 83.7 USD. The market is currently under pressure due to escalating tensions between the U.S. and Iran, which have not yet prompted significant safe-haven buying to offset the impacts of a strengthening U.S. dollar and rising bond yields.

As of the North American market opening, spot gold was trading around 4,074 USD per ounce, down approximately 0.75%. Despite maintaining above the psychological level of 4,000 USD, gold has struggled to break through the strong resistance levels of 4,162-4,214 USD per ounce.

The ongoing situation in the Strait of Hormuz remains a focal point for market observers, with heightened risks of attacks impacting oil transport. Increased oil prices could exacerbate inflationary pressures, which in turn may support expectations of sustained high interest rates. Rising U.S. dollar values and bond yields have made gold less attractive to investors.

In the short term, investors are closely watching the upcoming Federal Reserve meeting minutes and U.S. inflation data set to be released on July 14. If the Fed signals a hawkish stance, gold prices might test support levels around 4,041-4,072 USD per ounce. Conversely, lower inflation data could pave the way for a gold price recovery.

Technically, the resistance zone of 4,162-4,214 USD per ounce is significant. A sustainable breakthrough above this level could lead gold towards the 50-day moving average around 4,372 USD per ounce. On the downside, losing the 4,041 USD per ounce mark could see prices retreat to levels of 3,942 USD or even 3,886 USD.

Note: Gold price data is compared to the previous day.