Gold rings maintain a record high of over 65 million VND.

On the morning of February 29th, the price of gold bars at Saigon Jewelry Company (SJC) was 77.4 million VND/ounce for buying and 79.4 million VND/ounce for selling. Compared to the previous day, each ounce of SJC gold increased by 500,000 VND. Eximbank bought SJC gold bars at 77.5 million VND and sold them at 79 million VND...

Specifically, 9999 gold rings at SJC were bought at 64.05 million VND and sold at 65.25 million VND, an increase of 100,000 VND and maintaining the record high price. Similarly, Phu Nhuan Jewelry Joint Stock Company (PNJ) increased the buying price of gold rings by 100,000 VND to 64 million VND and the selling price to 65.1 million VND… The difference between the buying and selling price of gold rings at many companies is still maintained at 1.1 - 1.2 million VND/ounce.

Gold ring prices on the morning of February 29th maintained a record high of over 65 million VND per tael.

World gold prices edged up slightly to $2,035.7 per ounce, $2 higher than yesterday. Gold prices remained relatively stable as investors awaited the release of core PCE (Personal Consumption Expenditures) data today. This is the preferred measure of inflation for the US Federal Reserve (Fed).

According to Bob Haberkorn, senior market strategist at RJO Futures, gold is having a quiet session ahead of the PCE data. We need to see significantly better data showing inflation cooling before gold prices can surpass the $2,050/ounce mark. He also suggests that the Fed seems to be in control of the gold market. Gold prices could reach all-time highs if they say something more concise about the timing of an upcoming interest rate cut…

Recent statements from the Fed and rising inflation data have fueled expectations that the first interest rate cut by the central bank will occur in June, compared to the March forecast earlier this year. The continued high interest rates will negatively impact non-yielding metals like gold...

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