Gold price increased slightly at the end of the week, SJC gold is selling for 78.65 million VND/tael. Gold price increased sharply today, SJC gold is anchored at 79 million VND/tael. |
Domestic gold price
Gold price at noon on February 27, SJC gold price at Saigon Jewelry Company in Ho Chi Minh City was around 77.50 - 79.50, up 630 thousand VND/tael for buying and up 500 thousand VND/tael for selling compared to yesterday's closing price.
The price of SJC gold bars traded at Saigon Jewelry Company in Hanoi is around 77.50 - 79.52 million VND/tael, an increase of 630 thousand VND/tael for buying and 520 thousand VND/tael for selling compared to the closing price yesterday.
The price of SJC gold bars at Bao Tin Minh Chau Company is trading around 77.55 - 79.40 million VND/tael, an increase of 650 thousand VND/tael for buying and 600 thousand VND/tael for selling compared to the previous closing price. The difference between buying and selling is 1.95 million VND/tael.
At Bao Tin Manh Hai, SJC gold bars are being traded at 77.55 - 79.40 million VND/tael for buying and selling, an increase of 650 thousand VND/tael for buying and 600 thousand VND/tael for selling compared to yesterday.
At Phu Quy Group, the price of SJC gold bars is currently trading around 77.40 - 79.40 million VND/tael for buying and selling, an increase of 600 thousand VND/tael for buying and an increase of 600 thousand VND/tael for selling compared to yesterday.
In addition, the price of 999.9 gold rings today continued to increase. Specifically, the price of Thang Long Dragon gold rings at Bao Tin Minh Chau Company was traded at 64.63 - 65.73 million VND/tael for buying - selling, down 50 thousand VND/tael for buying, down 50 thousand VND/tael for selling compared to the closing price yesterday.
SJC gold price today increased by more than 600 thousand, 999.9 gold ring exceeded 66 million VND/tael |
Thang Long 999.9 (24k) dragon gold jewelry is trading around 64.98 - 66.08, up 650 thousand VND/tael for buying and up 650 thousand VND/tael for selling compared to yesterday. Thang Long 99.99 (24k) dragon gold jewelry is trading around 64.55 - 65.75 million VND/tael, up 400 thousand VND/tael for buying and up 400 thousand VND/tael for selling compared to yesterday.
Gold price traded at Bao Tin Manh Hai Company |
Similarly, Thang Long Gold Dragon blister rings and Kim Gia Bao blister rings are being traded at Bao Tin Manh Hai Company at around 65.43 - 66.08 million VND/tael for buying and selling, an increase of 400 thousand VND/tael for buying and 400 thousand VND/tael for selling compared to yesterday's closing price.
The price of 999.9 gold is around 64.35 - 65.75 million VND/tael, an increase of 200 thousand/tael for buying and 250 thousand/tael for selling compared to yesterday. The price of 99.9 gold is currently around 64.45 - 65.65 million VND/tael, an increase of 300 thousand/tael for buying and 300 thousand/tael for selling compared to yesterday.
Gold price traded at Phu Quy Group |
At Phu Quy Group, Phu Quy 999.9 Round Ring and Phu Quy 999.9 God of Wealth are trading around 64.90 - 66.00 VND/tael, an increase of 450 thousand VND/tael for buying and 450 thousand VND/tael for selling compared to yesterday.
24K 999.9 gold is trading around 64.10 - 65.50 million VND/tael, up 300 thousand VND/tael for buying and up 300 thousand VND/tael for selling compared to yesterday.
World gold price
At the same time, according to data from the Kitco exchange, the spot gold price in the Asian market increased by 2.7 USD/oz compared to the closing price last night in New York, equivalent to an increase of more than 0.1%, standing at 2,034 USD/oz. Last night, the spot gold price closed at 2,031.6 USD/oz, down 4.7 USD/oz, equivalent to a decrease of about 0.2%, compared to the closing price of the previous session.
World gold price chart this afternoon |
This price is equivalent to about 60.9 million VND/tael if converted according to the USD selling rate at Vietcombank, an increase of 200,000 VND/tael compared to yesterday morning. Compared to the converted world gold price, the retail price of SJC gold bars is 18.5-18.6 million VND/tael higher.
Notably, the domestic gold market continues to heat up, although the world gold price fluctuates insignificantly. Currently, spot gold is trading around 2,034 USD/ounce, down slightly by more than 1 USD during the session.
Gold’s narrow trading range appears to have discouraged many market participants as they await key economic data this week, with the focus on the US inflation report due later this week that will have an impact on the pace of interest rate cuts by the US Federal Reserve.
Specifically, on Thursday, the government will release the latest inflation data related to the Personal Consumption Expenditures (PCE) price index. Initial forecasts suggest that inflation will increase, with an increase of 0.4% compared to the previous month.
Still, experts say that if inflation picks up just a little, as expected, the precious metal will have a hard time breaking out of its current narrow trading range. If the data is significantly hotter than expected, gold could even fall below $2,000 an ounce.
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