| The price of 999.9 gold dropped sharply near the God of Wealth's day, 0.5-1 tael gold rings were on the rise. The price of gold today plummeted, gold buyers on the God of Wealth's day lost nearly a million VND/tael. |
Domestic gold price
Gold price at noon on February 21, SJC gold price was traded by DOJI Group at 76.25 - 78.45 million VND/tael, an increase of 850 thousand VND/tael for buying and 750 thousand VND/tael for selling compared to the closing price yesterday. The buying - selling difference continued to widen from 2.0 million VND to 2.3 million VND/tael.
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| Gold trading price at DOJI Group |
SJC gold price traded at Saigon Jewelry Company is at 76.30 - 78.50, up 730 thousand VND/tael for buying and up 750 thousand VND/tael for selling compared to yesterday's closing price.
SJC gold price at Bao Tin Minh Chau Company is trading around 76.55 - 78.50 million VND/tael, up 850 thousand VND/tael for buying and up 900 thousand VND/tael for selling compared to the previous closing price. The difference between buying and selling is 2 million VND/tael.
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At Bao Tin Manh Hai, SJC gold is being traded at 76.25-78.45 million VND/tael for buying and selling, an increase of 720 thousand VND/tael for buying and 780 thousand VND/tael for selling compared to yesterday.
At Phu Quy Group, SJC gold price is currently trading around 76.50 - 78.50 million VND/tael for buying and selling, an increase of 710 thousand VND/tael for buying and 740 thousand VND/tael for selling compared to yesterday.
The price of 999.9 gold rings today also turned to increase sharply. Specifically, the price of Thang Long Dragon gold rings at Bao Tin Minh Chau Company was traded at 64.38 - 65.48 million VND/tael for buying - selling, an increase of 230 thousand VND/tael for buying, an increase of 250 thousand VND/tael for selling compared to the closing price yesterday.
Thang Long 999.9 (24k) dragon gold jewelry is trading around 64.10 - 65.30, both up 300 thousand VND/tael for buying and selling compared to yesterday. Thang Long 99.99 (24k) dragon gold jewelry is trading around 64.00 - 65.20 million VND/tael, both up 300 thousand VND/tael for buying and selling compared to yesterday.
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| Gold price traded at Bao Tin Manh Hai Company |
Similarly, Thang Long Gold Dragon blister rings and Kim Gia Bao blister rings are being traded at Bao Tin Manh Hai Company at around 64.33 - 65.43 million VND/tael for buying and selling, an increase of 250 thousand VND/tael for buying and an increase of 300 thousand VND/tael for selling compared to yesterday.
The price of 999.9 gold is around 64.02 - 65.25 million VND/tael, an increase of 250,000 VND/tael for buying and an increase of 250,000 VND/tael for selling compared to yesterday. The price of 99.9 gold is currently around 63.92 - 65.15 million VND/tael, an increase of 260,000 VND/tael for buying and an increase of 250,000 VND/tael for selling compared to yesterday.
World gold price
In the world gold market, the spot gold price closed yesterday in the US up 6.6 USD to 2,024 USD/ounce. In the Asian session this morning, the gold price continued to increase by 5.7 USD to 2,030 USD/ounce. This price, after being converted according to the exchange rate at Vietcombank , is equivalent to 60.2 million VND/tael, about 18.2 million VND/tael lower than SJC gold and about 4.3 million VND/tael lower than the price of 999.9 gold.
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| World gold price chart this afternoon |
Gold futures for April 2024 delivery on the Comex New York floor increased by 15.7 USD, equivalent to 0.78%, to 2,039.8 USD/ounce.
World gold prices rose to their highest level in more than a week due to the decline in the US dollar exchange rate while investors waited for the US Federal Reserve (Fed) to release the minutes of its January meeting.
Gold prices are still facing downward pressure from the possibility of the Fed keeping interest rates higher for longer. The minutes of the January meeting, which the Fed is expected to release on Wednesday, are expected to provide clearer signals on the Fed's interest rate path in the coming time. The market is now expecting the Fed to start cutting interest rates in June, instead of cutting from March as expected at the beginning of this year.
“We continue to see the Fed starting to cut rates in mid-2024,” said David Meger, director of precious metals trading at High Ridge Futures. However, Meger said the Fed’s move to cut rates, albeit later than expected, is still a long-term support for gold prices.
In addition, gold prices have risen sharply due to China cutting its benchmark mortgage interest rate in an effort to restart its struggling housing/real estate sector. That could translate into better demand for the metal in the future from the world's second-largest economy.
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