This development originated from the international market. At the end of the week, the world gold price stopped at 3,383 USD/ounce, up more than 30 USD/ounce after the US Federal Reserve (Fed) revealed the possibility of reducing interest rates in the near future.
The converted world gold price is currently about 19.7 million VND/tael lower than the domestic gold price.
In the domestic market, at the opening, gold trading enterprises listed the price of SJC gold bars at 125.6 million VND/tael (buy) - 126.6 million VND/tael (sell), an increase of 1.2 million VND/tael each way compared to the end of yesterday.
This is the highest price ever for SJC gold bars. The price of gold rings also reached a new peak.
Specifically, Saigon Jewelry Company Limited sells gold rings of type 1-5 for only 118.5 million VND/tael (buy) - 121 million VND/tael (sell), an increase of 1 million VND/tael each way.
Notably, Bao Tin Minh Chau Company Limited increased by 1.1 million VND/tael each way, to 118.7 million VND/tael (buy) - 121.7 million VND/tael (sell) - the highest price ever for gold rings.
Looking back at the domestic gold market, on the first day of the week, August 18, the increase in world gold prices caused the price of SJC gold bars to increase by VND500,000/tael, re-establishing the old level of VND125 million/tael, trading at VND124 million/tael (buy) - VND125 million/tael (sell). After a day of standing still, on August 20, the gold price returned to VND123.8 million/tael (buy) - VND124.8 million/tael (sell), down VND200,000/tael each way.
Notably, on August 21, the domestic gold price broke the old record, reaching a historical high of VND124.4 million/tael (buy) - VND125.4 million/tael (sell) after increasing by VND600,000/tael in the context of the world gold price increasing sharply to USD3,340/ounce.
The next day, the price of SJC gold bars remained at the historical level of 124.4 million VND/tael (buy) -125.4 million VND/tael (sell).
With the above developments, the price of SJC gold bars at the end of the week was over 2 million VND/tael higher than the same time last week. The price of gold rings also moved in the same direction as gold bars.
Source: https://hanoimoi.vn/gia-vang-trong-nuoc-tang-vot-len-muc-cao-chua-tung-thay-713702.html
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