At noon on July 12, Saigon Jewelry Company (SJC) listed the price of gold bars at 119.5 - 121.5 million VND, an increase of 500,000 VND per tael compared to yesterday. Other brands also raised the price of gold bars to 119.5 - 121.5 million VND per tael.
Plain gold rings were raised by SJC to 115 - 117.5 million VND per tael. At Bao Tin Minh Chau, plain rings were listed at 116.2 - 119.2 million VND. At the same time, plain rings at Phu Nhuan Jewelry Company (PNJ) were listed at 115.2 - 118.2 million VND.
Domestic gold prices have been rising following the precious metal's movements in the international market. The difference between domestic and international gold bar prices is currently around VND15 million per tael.
The market rose after the US President on July 10 announced a 35% import tax on all Canadian goods starting early next month. This is higher than the current tax of 25%. Mr. Trump also revealed a plan to impose a general tax of 15-20% on most other trading partners. A day earlier, the US President signed an executive order to collect a 50% tax on copper imported into the country.
At the same time, the world silver price also skyrocketed and reached its highest level in the past decade. Each ounce of silver increased by more than 3.7% during the day, to 38.32 USD per ounce.
In the domestic market, the price of silver bars and ingots continued to reach new peaks, recording an increase of about 31% over the past year. Phu Quy Gold Investment Joint Stock Company listed silver bars at 1.46 - 1.505 million VND per tael. At Ancrat Vietnam Joint Stock Company, silver bars were listed at 1.44 - 1.48 million VND per tael. At Saigon Thuong Tin Bank Jewelry Company (SBJ), the price of silver bars increased to 1.45 - 1.49 million VND.
According to experts, macro factors such as geopolitical instability and silver demand in the high-tech industry (electric vehicles, semiconductors) are still the main drivers supporting silver prices to remain high. However, the global trade war also creates obstacles, causing industrial production to stagnate. This is the reason why silver prices tend to fluctuate up and down, instead of increasing continuously like gold.
VN (according to VnExpress)Source: https://baohaiphongplus.vn/gia-vang-mieng-vuot-121-trieu-dong-mot-luong-416206.html
Comment (0)