Buyers Enjoy Big Profits from Gold Rings

This morning (28/2), while the price of SJC gold decreased, gold rings saw a significant increase, breaking the record set at the beginning of February. Therefore, buyers of gold rings on the day of the God of Wealth gained half a million dong per tael.

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The Saigon Gold and Gemstone Company listed SJC gold biscuits at 76.9 – 78.9 million VND/tael buy – sell, down 100,000 VND/tael compared to the beginning of this morning. The buy-sell spread narrowed to 2 million VND/tael.

SJC gold prices at Doji Group were traded around 76.85 – 78.85 million VND/tael, down 100,000 VND/tael in the afternoon compared to the previous closing session. The buy-sell spread was at 2 million VND/tael.

SJC gold prices at Bao Tin Minh Chau Company stood at 77.2 – 78.85 million VND/tael, down 50,000 VND/tael in the afternoon compared to the previous closing session. The buy-sell spread was at 1.65 million VND/tael.

Meanwhile, gold rings saw a strong increase and set a new peak. Round, smooth dragon gold rings at Bao Tin Minh Chau Company were listed at 65.13 – 66.23 million VND/tael buy – sell, up 450,000 VND/tael compared to this morning. The buy-sell spread was at 1.1 million VND/tael.

Gold ring prices reach a new peak above 66 million VND/tael.

Doji 9999 gold rings in the Hanoi market were priced at 64.8 – 66 million VND/tael, up 300,000 VND/tael in the afternoon compared to the previous closing session. The buy-sell spread was at 1.2 million VND/tael.

Therefore, compared to the price of gold rings around 64 and 65 million VND/tael on the God of Fortune’s day, gold buyers gained half a million VND/tael.

At the same time, world gold prices remained steady at $2,031/ounce compared to this morning.

According to experts at Kitco, gold prices are mainly influenced by the interest rate expectations of the US Federal Reserve (Fed). Therefore, the report on the Personal Consumption Expenditures (PCE) index – the Fed’s preferred inflation gauge – scheduled to be released this Thursday is attracting special attention from investors.

Investors are still monitoring the data to gain more clarity about the state of the US economy and to shape interest rate expectations accordingly.

SOURCEcafef
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