In line with world gold prices, domestic gold prices continued to increase sharply on the morning of February 4, surpassing the 90 million VND/tael mark.
Specifically, at 9:00 a.m., Saigon Jewelry Company (SJC) announced the selling price of SJC gold bars at 88.1 - 90.6 million VND/tael (buy - sell), an increase of 300,000 VND/tael for buying and an increase of 800,000 VND/tael for selling compared to the closing price yesterday.
DOJI Gold and Gemstone Group announced the price of SJC gold bars at 88.1 - 90.6 million VND/tael (buy - sell), an increase of 300 thousand VND/tael for buying and an increase of 800 thousand VND/tael for selling compared to the closing price yesterday.
Similar to SJC gold bars, the price of gold rings announced by Saigon Jewelry Company SJC is at 87.8 - 89.8 million VND/tael (buy - sell), an increase of 300 thousand VND/tael for buying and an increase of 600 thousand VND/tael for selling compared to the closing price yesterday.
At Bao Tin Minh Chau Company, the price of gold rings is at 88.5 - 90.5 million VND/tael (buy - sell), an increase of 700 thousand VND/tael for buying and an increase of 750 thousand VND/tael for selling compared to the closing price yesterday.
In the world market, on February 3, gold prices reached a record high thanks to demand for safe-haven assets, after the US tariff policy on Canada, China and Mexico increased concerns about inflation.
At 1:45 a.m. on February 4, Vietnam time, spot gold rose 0.8% to $2,818.99 an ounce, after hitting a record high of $2,830.49 an ounce earlier in the session. Gold futures closed up 0.8% to $2,857.10 an ounce.
While a strong dollar typically weighs on gold, the metal has risen as uncertainty surrounding Trump’s tariff policy has boosted safe-haven demand, said David Meger, director of metals trading at High Ridge Futures.
The 25% tariffs Mr Trump imposed on imports from Canada and Mexico from February 4, along with a 10% tariff on Chinese goods, have raised concerns about a potential trade war that could slow global growth and spur inflation.
Canada and Mexico have taken retaliatory measures, while China has said it will challenge the US tariffs at the World Trade Organization (WTO) and take countermeasures. However, Mr Trump has announced a one-month suspension of tariffs on Mexico.
Bart Melek, head of commodity strategy at TD Securities, predicts that if this trade tension continues for a long time, gold prices could rise sharply in the future. Gold is often considered a safe-haven investment during times of economic or geopolitical uncertainty.
According to VNA
Source: https://doanhnghiepvn.vn/kinh-te/gia-vang-ngay-4-2-2025-tang-manh-vuot-moc-90-trieu-dong-luong/20250204105303430
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