Gold prices reverse course and rise.

TPO - This morning (June 20), the price of SJC gold bars increased to 147 million VND/ounce, widening the gap with world gold prices to nearly 15 million VND/ounce.

At 9:00 AM, Saigon Jewelry Company listed the price of SJC gold bars at 144.2 - 147.2 million VND/ounce for buying and selling, an increase of 500,000 VND/ounce in both directions compared to the end of yesterday's trading session.

Other major gold trading businesses such as DOJI Group, Phu Quy Gold and Gemstone Group, and Bao Tin Minh Chau Company Limited also simultaneously adjusted the price of gold bars upwards to 147.2 million VND/ounce for the selling price.

The price increase comes after the market experienced a sharp decline on June 19th, with a drop of up to 4.6 million VND per tael.

The price of SJC gold bars has risen to around 147 million VND per tael.

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Not only gold bars, but the price of gold rings in Vietnam has also reversed and increased again. Specifically, Bao Tin Minh Chau plain round gold rings are trading at 143.7 - 147 million VND/ounce; SJC gold rings are listed at 144.1 - 147.1 million VND/ounce; and Phu Quy gold rings are at 143 - 146.5 million VND/ounce.

On the international market, the spot price of gold is around $4,155 per ounce, equivalent to approximately 132.4 million VND per tael (approximately 37.5 grams) when converted using the bank exchange rate. Therefore, the domestic gold price is currently still nearly 15 million VND per tael higher than the world gold price.

Many believe that gold price movements are still influenced by investors' demand for safe haven assets amid geopolitical uncertainties and expectations regarding US monetary policy. However, the large price difference between domestic and international gold prices continues to pose significant risks for short-term investments.

In the foreign exchange market, the State Bank of Vietnam announced the central exchange rate for June 20th at 25,181 VND/USD.

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At Vietcombank, the USD exchange rate is listed at 26,120 - 26,440 VND/USD (buy - sell). Meanwhile, on the free market, the USD is commonly traded around 26,300 - 26,320 VND/USD.

Source: https://tienphong.vn/gia-vang-quay-dau-tang-post1852932.tpo