The price of gold bars rose to 124 million VND.

Long lines of people waited to buy gold on the morning of April 22nd, as the price of gold rose to 121 million VND per tael.

On the afternoon of April 22nd, Saigon Jewelry Company (SJC) listed the price of gold bars at 122-124 million VND per tael, an increase of 2 million VND compared to the morning and 6 million VND compared to the previous day. PNJ also raised the price of this type of gold in line with SJC. Thus, gold bars have set a new record price. The difference between the buying and selling price remains at 2 million VND.

SJC maintains the price of plain gold rings at around 116.5 - 119.5 million VND per tael. PNJ quotes this type of gold at 117 - 120 million VND. The difference between the buying and selling price of this type of gold is maintained at 3 million VND by these businesses.

Earlier, precious metals fluctuated sharply in the morning session, rising by 4.5 million VND compared to yesterday. This morning, the two Bao Tin Minh Chau gold shops on Tran Nhan Tong street were packed with people queuing to buy gold. Each customer was only allowed to buy 1 tael (approximately 3.75 grams) at a time. The shops asked customers to leave after receiving their tickets to reduce congestion. Staff there said the shop issued about 200 tickets in about 2 hours.

Domestic gold prices rose immediately after the price of the precious metal reached a new peak on the international market. At the close of trading on April 21st, the spot price of gold on the world market increased by $96 to $3,423 per ounce. In the morning session of April 22nd, the market continued to rise, reaching a new record high of $3,448, equivalent to 108.4 million VND per tael (approximately 37.5 grams) according to the Vietcombank exchange rate.

The difference between domestic and international gold prices is over 12 million VND. Gold prices are rising due to a weaker USD and increased demand for safe-haven assets as US-China trade tensions escalate. The USD has fallen to its lowest level in three years against other major currencies. A weaker dollar makes gold more attractive to buyers using other currencies.

The US dollar depreciated due to a decline in investor confidence in the US economy after President Donald Trump repeatedly criticized Federal Reserve Chairman Jerome Powell. On the social media platform Truth Social, Trump called Powell a "big loser" and warned that the US economy would slow down if interest rates were not lowered "immediately".

TB (summary)

Source: https://baohaiduong.vn/gia-vang-mieng-len-124-trieu-dong-409964.html