Gold rings maintain record level of over 65 million VND

On the morning of February 29, the price of gold bars at Saigon Jewelry Company - SJC was bought at 77.4 million VND/tael and sold at 79.4 million VND. Compared to the previous day, each tael of SJC gold bar increased by 500,000 VND. Eximbank bought SJC gold bars at 77.5 million VND and sold at 79 million VND...

Particularly, the 4-number-9 gold ring at SJC was bought at 64.05 million VND and sold at 65.25 million VND, an increase of 100,000 VND and maintained at a record high price. Similarly, Phu Nhuan Jewelry Joint Stock Company (PNJ) increased the price of gold rings by 100,000 VND to 64 million VND and sold at 65.1 million VND... The difference in buying and selling prices of gold rings at many companies is still maintained at 1.1 - 1.2 million VND/tael.

The price of gold rings on the morning of February 29 maintained a record level of over 65 million VND per tael.

World gold prices rose slightly to $2,035.7 an ounce, $2 higher than yesterday. Gold prices were little changed as investors awaited the core PCE personal consumption expenditure data to be released today. This is the preferred inflation measure of the US Federal Reserve (Fed).

Gold is having a quiet session ahead of the PCE data, said Bob Haberkorn, senior market strategist at RJO Futures. We need to see significantly better data showing that inflation is cooling for gold to break above $2,050 an ounce. He also said that the Fed seems to be in control of the gold market. You could see gold hit an all-time high if they say something more concise about the timing of the next rate cut...

Recent comments from the Fed and hot inflation data have boosted expectations for the agency’s first rate cut in June, compared to March at the start of the year. Persistently high interest rates are a negative for non-yielding metals like gold...

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