Gold prices continued to break new records this morning, with the difference compared to world prices now widening to nearly 6 million VND per ounce.
After a slight drop of a few hundred thousand dong late yesterday afternoon, major domestic brands continued to raise the prices of gold rings and gold bars to new highs this morning.
This morning, Saigon Jewelry Company (SJC) increased the buying and selling price of plain gold rings to 98.4 - 100.3 million VND, a rise of 500,000 VND for the buying price and 900,000 VND for the selling price compared to yesterday. PNJ also raised the price of plain gold rings to 98.6 - 100.4 million VND per tael. Meanwhile, at Bao Tin Minh Chau, gold rings rose to 99.25 - 100.9 million VND per tael this morning.
For gold bars, SJC has raised prices to a new peak of 98.6 - 100.4 million VND per tael, 600,000 VND higher for buying and 900,000 VND higher for selling compared to the end of yesterday. Gold bar prices at other brands are currently similar to SJC.
Gold price Domestic gold prices continued to rise higher than global prices. The difference between the two markets has now widened to nearly 6 million VND per tael, compared to less than 3 million VND per tael a month ago.
On the international market, precious metals extended their upward trend, reaching a record high of over $3,050 per ounce. Converted using the Vietcombank exchange rate, the current world gold price is equivalent to 94.6 million VND per tael (approximately 37.5 grams).
Domestic gold market activity has been booming in recent days. With gold prices repeatedly reaching record highs, many people are buying gold bars or plain gold rings to increase their savings through this investment channel. Some are also taking advantage of the opportunity to take profits, but buying is the majority of transactions. Currently, major brands are selling limited quantities of gold bars (around 1-2 taels) and plain gold rings (from half a tael to 2 taels), depending on the time.
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