Editor’s Note
This article reports on the sustained high price levels for gold as of July 20, 2025, comparing domestic Vietnamese prices with the global benchmark. All figures are sourced from market data at that time.
As of July 20, 2025, gold prices have maintained high levels, with a buying price of 119.7 million VND/tael and a selling price of 121.2 million VND/tael, holding the leading position. Meanwhile, the world gold price is trading at approximately 3,347.9 USD per ounce.
As of 6:00 AM on July 20, 2025, the gold prices of SJC and DOJI in Hanoi, Ho Chi Minh City, and Da Nang showed different trends compared to the previous trading day. SJC gold bars traded at a buying price of 119.7 million VND/tael and a selling price of 121.2 million VND/tael, rising by 200,000 VND in both directions. Meanwhile, the DOJI group maintained a stable trend across all regions with a buying price of 119.5 million VND/tael and a selling price of 121.0 million VND/tael.
There were also some notable fluctuations in the gold prices of other major brands.
Mi Hong reported that on July 20, 2025, gold prices surged even more sharply, with the buying price rising to 120.2 million VND/tael (an increase of 400,000 VND/tael) and the selling price reaching 121.2 million VND/tael (an increase of 200,000 VND/tael).
At PNJ, gold bar prices are moving sideways with a buying price of 114.7 million VND/tael and a selling price of 117.6 million VND/tael. VietinBank Gold is currently offering a selling price of 121.2 million VND/tael, which is an increase of 200,000 VND/tael.
Bao Tin Minh Chau recorded stable gold prices with a buying price of 119.5 million VND/tael and a selling price of 121.0 million VND/tael. Meanwhile, the Phu Quy Gold, Silver and Gemstone Group also maintained a flat trend for gold bars with a buying price of 118.4 million VND/tael and a selling price of 121.0 million VND/tael.
As of 6:00 AM today, the price of 9999 Hong Tin Buong gold rings traded at DOJI was 115.9 – 118.4 million VND/tael (buying – selling), with no change in both buying and selling prices compared to yesterday. The difference between the buying and selling prices is 2.5 million VND/tael.
As of July 20, 2025, the price of plain gold rings remains unchanged.
Bao Tin Minh Chau set the price of gold rings at 116.1 – 119.1 million VND/tael (buying – selling), which is unchanged in both buying and selling prices from the morning opening. The difference between the buying and selling prices is 3.0 million VND/tael.
The Phu Quy Gold, Silver and Gemstone Group set the price of gold rings at 114.8 – 117.8 million VND/tael (buying – selling), with no change in both directions. The difference between the buying and selling prices is 3.0 million VND/tael.
As of 6:30 AM (Vietnam time) on July 20, 2025, the spot gold price was 3,347.9 USD per ounce. This is the same price as the previous day. Applying Vietcombank’s USD exchange rate (26,340 VND/USD), the world gold price is approximately 106.0 million VND/tael (excluding taxes and fees). Compared to the domestic SJC gold bar price on the same day (119.7 – 121.2 million VND/tael), the current SJC gold price is about 10.6 million VND higher than the international gold price.
On July 19, 2025, the international gold market remained almost unchanged from the previous day, but a slight decline is expected this week. The main reasons are the strength of the US dollar and positive signals from the US economy. Notably, platinum prices hit their highest level since August 2014.
Spot gold is currently trading at 3,339.20 USD per ounce, while US gold futures remain stable at 3,344.60 USD. Overall, gold prices fell by about 0.5% this week.
Specifically, data released on Thursday showed that US retail sales in June increased by 0.6%, exceeding expectations. Additionally, US initial jobless claims also recorded better-than-expected figures, decreasing by 7,000 to 221,000 for the week ending July 12.
These solid figures confirm the resilience of the world’s largest economy and support the Fed’s cautious stance on interest rate cuts. Generally, gold is considered a safe-haven asset during economic uncertainty and holds value in a low-interest-rate environment.
Analysts predict that the Fed’s interest rate cuts, which will continue throughout the latter half of 2025 and into 2026, will be a major driver for future gold price increases. Simultaneously, investors are closely monitoring the progress of trade negotiations as US President Donald Trump expands the tariff war.
On the same day, spot platinum prices fell slightly by 0.3% to 1,453.23 USD per ounce after briefly hitting a 10-year high during the session. Palladium rose 1.5% to 1,293.32 USD per ounce, reaching its highest level since August 2023. Meanwhile, silver prices also rose 0.2% to 38.20 USD per ounce.
Today, July 20, 2025, domestic SJC gold prices are expected to close at 121.0 million VND/tael as the weekend approaches. Being a weekend, no significant price fluctuations are anticipated in domestic and international gold markets. As major exchanges are closed, Kitco’s spot gold price will maintain the closing level of July 19.
Specifically, as of July 20, 2025, the gold price on Kitco remains at 3,350.97 USD per ounce. Using Vietcombank’s USD exchange rate (26,340 VND/USD) to convert to Vietnamese Dong, the world gold price is estimated at approximately 109.87 million VND/tael (excluding taxes and fees).
For the domestic market, although the world gold price had no direct fluctuations over the weekend, today’s SJC gold price on July 20, 2025, may see a slight downward adjustment tomorrow morning based on company decisions. This is because the world gold price fell by 14.33 USD per ounce during the trading session on July 19. However, this decline reflects the trend from the previous trading session and does not signify new fluctuations over the weekend.
While gold prices show little significant change as of July 20, 2025, the gold price trend for the next week will be influenced by the following factors:
The US dollar is showing strength. The dollar is showing signs of a rebound, reaching its highest level in three weeks. Due to positive US economic indicators and persistent high inflation, the Fed is adopting an even more cautious attitude towards interest rate cuts, which is putting downward pressure on gold prices.
Heightened Political Tension in the US: The conflict between former President Donald Trump and Fed Chairman Jerome Powell could exacerbate market instability. A decline in trust in US financial institutions could affect the role of the dollar, potentially increasing the appeal of alternative assets like gold and Bitcoin in the long term.
Major Economic Events: Next week, investors will closely watch the European Central Bank’s (ECB) monetary policy meeting. Additionally, several important US economic indicators such as home sales, jobless claims, the Manufacturing Purchasing Managers’ Index (PMI), and durable goods orders are scheduled for release. These indicators are expected to cause significant volatility in the gold market.