On the morning of March 11, gold price was trading around 82 million VND/tael.

On the morning of March 11, SJC gold price was listed by gold businesses at around 82 million VND/tael for selling.

Although the price of gold rings has not changed compared to yesterday's closing price, it is at its highest level ever: over 71 million VND/tael in the selling direction.

Specifically, at 9:30 a.m. on March 11, Doji Gold and Gemstone Group in Hanoi listed the gold price at 79.95 - 81.95 million VND/tael (buy - sell), an increase of 500,000 VND/tael in the buying direction and kept the same price in the selling direction compared to the closing price yesterday.

At Saigon Jewelry Company, the listed price of SJC gold is 80 - 82.02 million VND/tael (buy - sell), an increase of 500,000 VND/tael in buying price and unchanged in selling price compared to the closing price yesterday.

Illustration photo: Tran Viet/VNA

In today's trading session, Bao Tin Minh Chau Gold and Silver Company listed the price of round gold rings at 69.88 - 71.18 million VND/tael (buy - sell), unchanged in both buying and selling prices compared to yesterday's closing price.

Similarly, DOJI Gold and Gemstone Group listed the price of round gold rings at 69.8 - 71.1 million VND/tael (buy - sell), unchanged in both buying and selling prices compared to yesterday's closing price.

Last week, the price of SJC gold and gold rings increased sharply. Compared to the first session of last week (March 4), the price of SJC gold was about 1.8 million VND/tael (buy in - sell out); the price of gold rings increased by 3.2 - 3.3 million VND/tael (buy in - sell out).

In the world market, gold prices are forecast to continue to increase sharply this week. According to the Lien Hop newspaper on the morning of March 11, the statement about the possibility of reducing interest rates by the Chairman of the US Federal Reserve (Fed) Jerome Powell has further stimulated investors' interest in gold, pushing the price of this precious metal up more than 4% last week and setting an unprecedented high in history.

Last week, the world gold price also continuously broke record highs, mainly due to speculation about the possibility of the US cutting interest rates. Therefore, it is not surprising that this precious metal market recorded the strongest percentage increase since mid-October 2023 over the past week. At the end of the session on March 8 at the US COMEX Gold Exchange, the spot gold price increased by 0.5% to 2,170.55 USD/ounce. Meanwhile, the gold futures price increased by 0.9% to 2,185.50 USD/ounce.

According to VNA/Tin Tuc Newspaper

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