On the morning of April 24, Saigon Jewelry Company (SJC) announced the price of gold bars at 118.5 - 121.5 million VND, an increase of 2 million VND per tael compared to yesterday. The difference between buying and selling prices remained high, 3 million VND per tael. At the same time, state-owned gold companies listed gold prices equal to SJC.
Plain rings were also increased in price by SJC at the beginning of the day to 113.5 - 116.5 million VND, 1 million VND higher per tael than yesterday. At Phu Nhuan Jewelry Company (PNJ), the price of plain rings was the same as SJC, while Bao Tin Minh Chau's price was around 117 - 120 million VND. The difference between the buying and selling prices of these companies was 3 million VND per tael.
Domestic gold prices have increased again after the international market increased. Accordingly, the world price of precious metals is currently at 3,357 USD per ounce, up nearly 70 USD compared to yesterday's 3,288 USD. Converted according to Vietcombank's exchange rate, the world gold price is equivalent to about 106 million VND per tael, 15.5 million VND lower than the domestic price.
The market has been under pressure in recent days as demand for risky assets has recovered, following news that US President Donald Trump confirmed that he has no plans to fire Fed Chairman Jerome Powell and signaled that trade tensions with China have eased. Since peaking at $3,500 on April 22, gold prices have fallen more than 4%.
"The market is starting to get over the shock caused by import tariffs. Soon, money will withdraw from some safe-haven assets and return to hunting for stocks like Apple and Tesla," said Phillip Streible, chief strategist at Blue Line Futures.
However, gold prices have risen more than 26% since the beginning of the year, thanks to central bank buying, import tariff wars and strong investment demand. "According to the technical charts, the price peaked at $3,500 and then turned sharply lower, suggesting a deep correction in the short term," said Ole Hansen, head of commodity strategy at Saxo Banks.
Source: https://baoquangninh.vn/gia-vang-mieng-quay-dau-tang-2-trieu-dong-mot-luong-3354915.html
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