Gold prices surge as Lunar New Year approaches

On the morning of February 1st, the domestic gold price continued to surge with an increase of 500,000 VND/tael, approaching the 78 million VND/tael mark. As Tet holiday approaches, the price of gold tends to rise sharply.

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The Saigon Gold Silver Gemstone Company listed the SJC gold price at 75.4 – 77.9 million dong per tael, increasing by 500,000 dong per tael for both buy and sell. The price of plain round rings is 63 – 64.3 million dong per tael, an increase of 400,000 dong per tael.

The Doji Group listed the SJC gold price at 75.25 – 77.85 million dong per tael for buy and sell, an increase of 500,000 dong per tael compared to the previous trading session.

In the Ho Chi Minh City market, the Mi Hong Gold System listed the SJC gold price at 76.2 – 77.2 million dong per tael for buy and sell, and the price of plain round rings at 62.7 – 63.5 million dong per tael.

This is the second consecutive trading session of strong gold price increases. In these 2 trading sessions, the gold price has increased by up to 1.2 million dong per tael. According to the Vietnamese belief, on the Day of Wealth Deity (10th day of the Lunar New Year), people buy gold for luck. Therefore, as the Lunar New Year approaches, the gold price increases day by day.

The gold price increases by half a million dong per tael. (Illustrative photo: ST).

At the same time, the world gold price is at $2,040 per ounce. Converted at the current exchange rate, the world gold price is approximately 60 million dong per tael, excluding taxes and fees.

SOURCEcafef
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