At nearly 10:00 a.m. this morning, Saigon Jewelry Company Limited listed the price of SJC gold bars at VND67.55 million/tael (buy) - VND68.15 million/tael (sell), an increase of VND50,000/tael each way compared to the end of August 30.
Bao Tin Minh Chau Company Limited increased by 50,000 VND/tael each way, to 67.57 million VND/tael (buy) - 68.15 million VND/tael (sell).
In the same trend, Vietnam Export Import Commercial Joint Stock Bank increased by VND100,000/tael each way, to VND67.7 million/tael (buy) - VND68.1 million/tael (sell).
The price of gold rings increased more strongly. Specifically, Bao Tin Minh Chau Company Limited increased by 150,000 VND/tael (buying price) and 200,000 VND/tael (selling price), to 56.25 million VND/tael (buying price) - 57.16 million VND/tael (selling price) for plain round gold rings.
Saigon Jewelry Company Limited listed the price of 1-5 tael gold rings at 56.25 million VND/tael (buy) - 57.25 million VND/tael (sell), 200,000 VND/tael higher than the end of the previous day each way.
Domestic gold prices increased due to the influence of the international market. Last night's trading session, the world gold price increased by 0.4%, reaching 1,943.9 USD/ounce in the context of the USD price going down when gloomy US economic data made the market speculate that the US Federal Reserve will soon end its interest rate hike cycle. By nearly 10am this morning, the gold price continued to increase to 1,946.1 USD/ounce, converted to be about 11 million VND/tael lower than the domestic gold price.
Domestic gold prices have just experienced a remarkable August. In the first half of the month, prices fluctuated little, hovering around VND67.3 million/tael. After that, the price of the precious metal gradually increased, surpassing the VND68 million/tael mark, at one point reaching VND68.3 million/tael - the highest level in the past 7 months. Compared to the beginning of the month, the price of gold at the end of the month "increased" by about VND900,000/tael. Trading on the market was at an average level.
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