Gold prices surged by over 6 million VND per tael this week.

Businesses listed SJC gold bars at 102.7 million VND/ounce (buying price) - 106.2 million VND/ounce (selling price), an increase of 500,000 VND/ounce (buying price) and 1 million VND/ounce (selling price) compared to the end of the previous day.

The price of gold rings increased at a lower rate. Saigon Gold, Silver and Gemstone Company Limited increased the price of gold rings by 300,000 VND/ounce (buying price) and 500,000 VND/ounce (selling price), bringing the price to 101.4 million VND/ounce (buying price) - 104.9 million VND/ounce (selling price).

Gold prices rose sharply last week. *Photo: HT*

The price listed by Bao Tin Minh Chau Co., Ltd. is 101.5 million VND/ounce (buying price) - 105 million VND/ounce (selling price), higher than the previous day by 600,000 VND/ounce (buying price) and 500,000 VND/ounce (selling price).

On the international market, gold prices surged to $3,238 per ounce at the end of the week as investors sought refuge in the commodity amid trade tensions.

Looking back at the domestic gold market, after remaining stable on the first day of the week, on April 8th, the price of SJC gold bars increased by 600,000 VND/ounce (buying price) and 100,000 VND/ounce (selling price), reaching 97.7 million VND/ounce (buying price) - 100.2 million VND/ounce (selling price).

The following day, the price of precious metals fluctuated sharply, increasing by up to 2 million VND/ounce (buying price) and 1.7 million VND/ounce (selling price), reaching 99.7 million VND/ounce (buying price) - 101.9 million VND/ounce (selling price) amidst a surge in world gold prices to over 3,060 USD/ounce.

On April 10th, world gold prices continued to rise sharply due to concerns about trade tensions, causing domestic gold prices to surpass the 103 million VND/ounce mark for the first time, reaching 100.9 million VND/ounce (buying price) - 103.9 million VND/ounce (selling price), an increase of 1.2 million VND/ounce (buying price) and 2 million VND/ounce (selling price) compared to the end of the previous day. By the end of the day, gold prices cooled down to 100.6 million VND/ounce (buying price) - 103.6 million VND/ounce (selling price).

Notably, on April 11th, the world gold price surpassed $3,200 per ounce, causing the price of the precious metal in Vietnam to surge by 2.8 million VND per tael in both buying and selling directions, reaching an unprecedented high of 103.4 million VND per tael (buying) - 106.4 million VND per tael (selling). By the end of the day, the price had fallen to 102.2 million VND per tael (buying) - 105.2 million VND per tael (selling), still 1.6 million VND per tael higher than the end of the previous day in both directions, due to many people selling their gold to lock in profits.

The price of gold rings also followed a similar trend. While last weekend the common price for gold rings was 97-97.5 million VND/ounce (buying price) - 100.5-101.1 million VND/ounce (selling price), this morning it was 101.4-101.5 million VND/ounce (buying price) and 104.9-105 million VND/ounce (selling price).

Compared to last weekend, the price of SJC gold bars has increased by 6.1 million VND/ounce, while the price of gold rings has risen by 3.8-4.5 million VND/ounce.

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