Hanoi (VNA) – Domestic gold prices have dropped almost 2 million VND per tael (1 tael = 37.5 gramm♊es) on July 7 compared to the peak one day earlier.
At 10:50 am, DOJI Gold and Gems Group listed the buying and selling prices of gold produced by the Saigon Jewelry Joint Stock Company (SJC) at 36.7 million – 37.7 million VND per tael, down 1.4 million VND per tael from the beginning of the trading session the same day.
Meanwhile, the respective prices listed by SJC were 36.6 million – 37.9 million VND per tael, falling by 1.85 million and 1.55 million VND per tael (buying – selling).
Gold is still being traded at around 1,368 USD per ounce (1 ounce = 28.35 grammes) in the global market as listed in the morning.
The price drop has proved the effect of the State Bank of Vietnam (SBV)’s message issued at the end of July 6’s trading session on the domestic market.
On July 6, the domestic price exceeded 39 million VND per tael, the highest since June 2013, and was tending towards 40 million VND.
Later the day, the central bank declared that it would keep a close watch on the gold market and had readied to make an intervention if necessary.
Nguyen Ngoc Canh, Director of the SBV’s Foreign Exchange Management Department, said from the afternoon of July 5 to the next day, the domestic gold price tended to rise at a faster pace and was already higher than the global price.
Such a hike affected the general psychology in the market with some people not selling gold immediately but waiting for the price to grow further, leading to a temporary shortage of gold supply, he noted.
Canh said the volume of traded gold hasn’t jumped sharply, and people have also not flocked to buy gold as they did in the past.-VNA
In the first four months of 2025, trade turnover between Vietnam and Cambodia surpassed 3 billion USD, marking a 7% increase compared to the same period in 2024.
On June 19 alone, a total of 2,005 trucks completed customs clearance at Lang Son’s border gates — the highest single-day figure ever recorded in the province. Of these, 634 carried exports and 1,371 imports.
The OECD Economic Surveys: Vietnam 2025 report focuses on analysing the country’s macroeconomic fundamentals, the impact of international integration on attracting foreign investment and trade, and the country’s prospects for developing a low-carbon economy.
Antoine Colin, Senior Vice President for Global Supply Chain Digital Transformation & Resilience at HP Inc., affirmed HP’s strategic commitment to building a supply chain and ecosystem in Vietnam and the region.
Deputy Director General of the Ministry of Industry and Trade (MoIT)’s Trade Promotion Agency Bui Quang Hung emphasised that logistics has evolved from a technical function into a core capability for Vietnamese exporters to maintain their competitive advantage in the US market.
A trade official has suggested companies work closely with shipping lines, airlines, and freight forwarders to monitor routes, transit times, and potential surcharges while exploring broader cargo insurance to cover risks like war and terrorism.
In addition to institutional reform, the agency is also rolling out key solution groups to combat counterfeit goods, imitations, and intellectual property infringements in the digital environment.
The event, co-organised by the Vietnam Trade Office in the UK and TT Meridian, a local importer of Vietnamese fresh produce, aims to build a national lychee brand and encourage broader recognition of Vietnamese fruits in a competitive, high-end market.
The industry's performance has been powered by bold investments in modern production lines, enabling Vietnamese firms to produce complicated products which were exclusive to advanced economies.
Outcomes of ABAC III will shape ABAC’s final policy recommendations to be submitted to the ABAC-APEC leaders’ dialogue, scheduled to take place in the Republic of Korea this November.
This is the second year the magazine has released the ranking, which is based on total revenue and key financial indicators of enterprises from seven countries in the region: Vietnam, Indonesia, Thailand, Malaysia, Singapore, the Philippines, and Cambodia.
At the summit, publishing, tech, and media sectors will discuss emerging trends, business models, and sustainable solutions for digital publishing development in Vietnam.
This year’s “Vietnam Goods Week” marks a significant milestone as it is being held simultaneously for the first time in four locations across Asia: Japan, Hong Kong (China), Cambodia, and Malaysia, from June 19 - 22.
According to NordCham Vietnam Chairman Thue Quist Thomasen, the Vietnamese Government’s commitment to achieving net-zero emissions by 2050 is both a challenge and an opportunity for businesses to contribute to green and sustainable growth.
The analysis from an investment perspective shows that the economy’s growth has been heavily capital‑driven, yet efficiency remains low as reflected by Vietnam’s Incremental Capital-Output Ratio (ICOR) being significantly higher than global and regional averages. This underscores the imperative to enhance capital‑use efficiency.
Deputy PM Tran Hong Ha urged countries to work together to remove supply chain bottlenecks, expand market access, strengthen cooperation in smart customs procedures, mutually recognise technical standards, and eliminate unnecessary protectionist barriers to boost trade and investment.
Customers buy gold at a DOJI shop (Photo: VNA)
