Gold price continues to rise to historical level of 111 million VND/tael

After a sharp increase in the early morning of April 16, domestic gold prices continued to increase by 1.2-2.6 million VND/tael, reaching a historical peak of 111 million VND/tael.

The reason is that the international gold price has not stopped rising and the domestic gold demand has increased. At nearly 11am, the world gold price was trading at 3,277 USD/ounce, an increase of more than 30 USD/ounce compared to early morning of the same day.

The price of SJC gold bars and gold rings both reached an unprecedented high of 111 million VND/tael. Photo: HT

In the domestic market, Phu Nhuan Jewelry Joint Stock Company listed the price of gold rings at 108 million VND/tael (buy) - 110.5 million VND/tael (sell), an increase of 3.3 million VND/tael (buy) and 2.6 million VND/tael (sell) compared to early this morning.

Notably, Bao Tin Minh Chau Company Limited raised the price to 111 million VND/tael, trading at 108.3 million VND/tael (buy) - 111 million VND/tael (sell), an increase of 1.8 million VND/tael (buy) and 1.5 million VND/tael (sell).

Saigon Jewelry Joint Stock Company raised the price to 108 million VND/tael (buy) - 110.5 million VND/tael (sell).

The price of SJC gold bars also continued to increase sharply, reaching 108.5 million VND/tael (buy) - 111 million VND/tael (sell), 1.7 million VND/tael (buy) and 1.2 million VND/tael (sell) higher than the beginning of the hour.

Thus, the price of gold rings is equal to that of SJC gold bars. The buying-selling price range that businesses commonly set is 2.5-2.6 million VND/tael.

In the early morning, the price of SJC gold bars increased by 1.3 million VND/tael (buying) and 1.8 million VND/tael (selling); gold rings increased by 1.9-2.8 million VND/tael.

With the above developments, compared to the end of yesterday, the price of gold rings increased by 3 million VND/tael each way; the price of gold rings increased by 4.3-5.3 million VND/tael (buying price) and 4.3-4.5 million VND/tael (selling price).

Source: https://hanoimoi.vn/gia-vang-len-tiep-muc-lich-su-111-trieu-dong-luong-699117.html