On July 10, 2026, gold prices in Vietnam experienced a notable increase, with the selling price approaching 150 million VND per tael. This rise has been attributed to various factors affecting both domestic and international markets.

As of this morning, the price of gold bars was recorded at 146.9 – 149.9 million VND per tael at SJC, while the price for 24k gold rings was set at 146.6 – 149.6 million VND per tael. Bảo Tín Mạnh Hải also adjusted their prices, increasing the gold bar price by 900,000 VND to the same range as SJC.

Internationally, spot gold prices remained stable at approximately 4,127 USD per ounce, showing little fluctuation compared to earlier in the day. The recent employment report from the U.S. indicated a non-farm payroll increase of 57,000 jobs in June, with the unemployment rate holding steady at 4.2%. This data initially supported gold prices by reducing expectations of imminent interest rate hikes from the Federal Reserve.

However, the minutes from the Federal Reserve's recent meeting revealed concerns among some officials regarding inflation pressures, leaving the possibility of a rate increase in September open. Despite this, a report on unemployment claims released on Thursday showed a cooling labor market, primarily due to slower hiring rather than increased layoffs.

In the U.S., the yield on 10-year Treasury bonds dropped to around 4.53%, down from a recent high of nearly 4.60%. The two-year bond yield also fell to approximately 4.16%, while the USD Index retreated below 101 points. These developments have created favorable conditions for precious metals to recover, even as the outlook for interest rates remains heavily influenced by upcoming consumer price index (CPI) reports.

In terms of oil prices, Brent crude fell below 76 USD per barrel, and WTI traded around 71 USD per barrel, as the likelihood of supply disruptions diminished. The decline in oil prices is seen as a positive factor for gold, as it alleviates inflationary pressures that previously pushed bond yields and the USD higher.

Investors are now closely monitoring the upcoming CPI report, the testimony of Federal Reserve Chair Kevin Warsh before Congress, and any developments regarding maritime activities in the Strait of Hormuz. If inflation cools more than expected, the likelihood of a Fed rate hike in September may decrease, allowing gold prices to test resistance levels between 4,162 and 4,214 USD per ounce. Conversely, a significant rise in oil prices could refocus market attention on the relationship between inflation and interest rate expectations.