Gold prices of domestic brands continue to increase, exceeding 81 million VND/tael. Currently, gold bar prices for brands are listed specifically as follows:
SJC gold price in Hanoi and Da Nang area is listed at 79 million VND/tael purchased and 81,02 million VND/tael sold. In Ho Chi Minh City, SJC gold is still buying at the same level as in Hanoi and Da Nang areas but selling is 20.000 VND lower. Thus, compared to yesterday morning, SJC gold price was adjusted to increase by 100.000 VND in both directions.
Meanwhile, DOJI in the Hanoi area increased the price of gold bars by 200.000 VND in both directions to 2 million VND/tael purchased and 79 million VND/tael sold, respectively. In Ho Chi Minh City, this brand's gold is being bought and sold at the same level as in the Hanoi area.
Vietinbank gold price is listed at 79 million VND/tael purchased and 81,02 million VND/tael sold, an increase of 100.000 VND in both directions. PNJ brand gold bars are buying at 2 million VND/tael and selling at 79,1 million VND/tael, an increase of 81,1 VND in buying and 300.000 VND in selling compared to yesterday morning.
The buying price and selling price of Bao Tin Minh Chau brand gold are respectively 79 million VND/tael and 80,95 million VND/tael, an increase of 100.000 VND for buying and 150.000 VND for selling.
World gold price
According to Kitco, the world gold price recorded at 5:00 am today Vietnam spot time was 2.232,10 USD/ounce. Today's gold price is 34,36 USD/ounce different from yesterday's gold price. Converted at the current exchange rate at Vietcombank, world gold costs about 65,918 million VND/tael (excluding taxes and fees). Thus, SJC's gold bar price is still higher than the international gold price of 13,082 million VND/tael.
Gold prices rose sharply in Asian trading today, near a record high as traders bought the yellow metal amid signs of inflation and US interest rates.
Bullion prices have recovered most of their losses this week on expectations that the US Federal Reserve (FED) could cut interest rates as soon as June is still in place. But the dollar's strength, near a one-month high, has kept gold prices from reaching record highs.
Now the focus is on PCE price index data - the Fed's preferred inflation gauge - due out on Friday. Any signs of cooling inflation are likely to boost metals markets, as they increase the chances of an early interest rate cut.
Along with the PCE data, separate addresses from Fed Chairman Jerome Powell and FOMC member Mary Daly will also be available on Friday. Any signals from either about cutting interest rates will be closely watched, after other Fed officials took a somewhat hawkish stance this week.
Governor Christopher Waller warned that the central bank is in no hurry to start cutting interest rates, citing difficult inflation and the resilience of the US economy.
Higher interest rates for longer periods bode poorly for gold prices because they increase the opportunity cost of investing in bullion.
This concept puts other precious metals under pressure as well. Platinum futures rose 0,3% to $914,0 per ounce, while silver futures were steady at $24,777 per ounce.
