DNVN - The price of gold rings and gold bars in the country continued to increase sharply on the morning of March 19, setting a new record high. Gold trading enterprises have adjusted the price of gold bars to exceed the threshold of 99 million VND/tael. Gold shops still recorded a large number of customers coming to trade.
Gold rings peak at nearly 99 million VND/tael
At 9:10 a.m., Bao Tin Minh Chau Company announced the price of gold bars and gold rings at 97.65 - 99.2 million VND/tael (buy - sell), respectively, an increase of 400,000 VND/tael for buying and 300,000 VND/tael for selling compared to the previous session.
Saigon Jewelry Company (SJC) listed the price of gold rings at 97 - 98.5 million VND/tael (buy - sell), an increase of 400,000 VND/tael in both buying and selling directions compared to the closing price yesterday.
Phu Nhuan Jewelry Joint Stock Company (PNJ) listed the price of gold bars at 97.4 - 99 million VND/tael, an increase of 500,000 VND/tael in both buying and selling prices compared to the previous session.
DOJI Gold and Gemstone Group and Saigon Jewelry Company (SJC) adjusted the price of gold bars to 97.1 - 98.6 million VND/tael (buy - sell), an increase of 400,000 VND/tael in both directions compared to the previous trading session.
The current situation shows that gold rings and gold bars are maintaining their highest levels in history. According to experts, the price of gold has exceeded many people's previous predictions. The main reason is believed to be the increasing geopolitical instability in the world, especially the new tax policies of US President Donald Trump on imported goods, along with the response measures from many countries.
World gold price hits new peak
In the international market, gold prices increased by 1% in the trading session on March 18, reaching a new record high as tensions in the Middle East escalated and the global trade situation was unstable, boosting demand for "safe haven" assets.
During this session, the spot gold price reached a peak of 3,038.26 USD/ounce, then decreased slightly and closed at 3,032.96 USD/ounce at 11:00 p.m. on March 18 (Vietnam time), up 1.05% compared to the previous session. The price of this precious metal surpassed the 3,000 USD/ounce mark for the first time on March 14.
Gold prices have increased by more than 15% since the beginning of the year, marking 14 new peaks in 2025.
Nicky Shiels, head of metals market strategy at MKS PAMP SA, said that rising tensions in the Middle East continue to be a driving force for gold prices to rise.
Israeli airstrikes on the Gaza Strip in the early hours of March 18, which came after Hamas rejected a proposal to extend the ceasefire, left more than 400 Palestinians dead.
In addition, US President Donald Trump has proposed new tariffs, including a 25% tariff on steel and aluminum effective from February 2025, along with additional sectoral tariffs scheduled to be imposed on April 2.
In the context of a volatile world economy and politics, gold continues to be considered the top safe investment channel.
Cao Thong (t/h)
Source: https://doanhnghiepvn.vn/kinh-te/gia-vang-sang-19-3-2025-tang-manh-cham-moc-99-trieu-dong-luong/20250319095033791
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