May 24: Domestic gold price increases, gap with world gold price narrows

SJC gold bars were listed by businesses at 119 million VND/tael (buy) - 121 million VND/tael (sell), an increase of 500,000 VND/tael each way compared to the end of the previous day.

For gold rings, Saigon Jewelry Company Limited listed gold rings at 113.5 million VND/tael (buy) - 116 million VND/tael (sell), an increase of 1 million VND/tael (buy) and 500,000 VND/tael (sell).

Bao Tin Minh Chau Company Limited increased by 1 million VND/tael each way, to 115.5 million VND/tael (buy) - 118.5 million VND/tael (sell).

At the end of the week, gold price increased by 500,000 VND/tael. Photo: HT

Domestic gold prices rose due to the influence of the international market. At the end of the week, the price of the precious metal increased by nearly 2%, reaching 3,358.9 USD/ounce in the context of increased demand for this item.

Domestic gold prices increased more slowly than international prices, so the price difference between the markets was nearly 15 million VND/tael instead of 15.6 million VND/tael this morning.

Looking back at the domestic gold market, on the first day of the week, May 19, the price of SJC gold bars increased by VND1.3 million/tael (buying) and VND800,000/tael (selling), to VND116.8 million/tael (buying) - VND119.3 million/tael (selling).

After a day of no change, on May 21, the gold price increased by 1.7 million VND/tael each way, to 118.5 million VND/tael (buy) - 121 million VND/tael (sell) when the world gold price increased sharply to nearly 2,300 USD/ounce.

The next day, the price of precious metals initially increased by VND800,000/tael (buying price) and VND300,000/tael (selling price), reaching the highest level in over a week at VND119.3 million/tael (buying price) - VND121.3 million/tael (selling price), but by the end of the day it decreased to VND118.5 million/tael (buying price) - VND120.5 million/tael (selling price), meaning the buying price remained the same but the selling price decreased by VND500,000/tael compared to the previous day.

On May 23, gold prices increased and decreased within a narrow range and stopped at the closing level of May 22 at the end of the day.

With the above developments, compared to last weekend, the price of SJC gold bars is now 2.5 million VND/tael higher. The price of gold rings also moved upward during the week.

Source: https://hanoimoi.vn/ngay-24-5-gia-vang-trong-nuoc-tang-chenh-lech-voi-gia-vang-the-gioi-thu-hep-703354.html