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Gold Prices Surge Again After Three-Day Decline

Gold Prices Surge Again After Three-Day Decline

Today, July 10, gold prices in Vietnam have surprisingly increased after three days of decline. As of 9 AM, the SJC gold bar was listed at 146.9 - 149.9 million VND per tael (buying - selling), reflecting a rise of 1.4 million VND compared to yesterday morning. The buying and selling price difference stands at 3 million VND per tael.

Major gold trading companies, including Phu Quy Gold and DOJI Group, have also raised their SJC gold prices to 149.9 million VND per tael. The price of gold rings has similarly increased, with Bảo Tín Minh Châu listing prices at 145 - 149 million VND per tael, which is 1 million VND higher than SJC gold bars.

Phu Quy gold rings are priced at 146 - 149.3 million VND per tael, while SJC gold rings are listed at 146.6 - 149.6 million VND per tael. This price surge comes after a significant drop over the past few days.

Meanwhile, the global gold price is currently at 4,119 USD per ounce, which is an increase of 46 USD compared to yesterday morning. This global price is roughly equivalent to 131.4 million VND per tael.

On the foreign exchange market, the State Bank of Vietnam announced the central exchange rate at 25,214 VND/USD, up by 3 VND from yesterday morning. At Vietcombank, the USD is listed at 26,074 - 26,474 VND/USD (buying - selling). In the free market, the USD trades around 26,400 - 26,450 VND/USD (buying - selling), reflecting a 30 VND increase in the selling price compared to yesterday morning. Notably, the black market USD price is lower than that of banks.

The rise in global gold and silver prices is attributed to the decline in crude oil prices and U.S. Treasury yields.

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