Gold prices unexpectedly surge and go beyond the $2,100/ounce mark, setting a new record.
Specifically, the buying and selling price of SJC gold in Hanoi, Ho Chi Minh City, and Da Nang is 78.70 – 80.72 million dong/tael, increasing 300,000 dong/tael for selling compared to the afternoon of March 4. The spread between the buying and selling price is still high at 2.02 million dong/tael.
Prior to 9:30 am on March 5, the buying and selling price of SJC gold at Doji was 78.85 – 80.85 million dong/tael, increasing 500,000 dong in both directions compared to the closing session on March 4.
Saigon Jewelry Diamond and Gemstone Company (SJC) listed the buying and selling price of SJC gold at 78.9 – 80.92 million dong/tael, increasing 500,000 dong for buying and selling compared to the closing session on March 4.
The price of gold rings also continues to rise. At Bao Tin Minh Chau Jewelry Company, the listed price of gold rings is at 67.38 – 68.58 million dong/tael for buying and selling, increasing 600,000 dong for buying and selling compared to the closing session on March 4.
“If investors are still confident in their gold price forecasts and decide to speculate on gold, I still advise investors to speculate on pure 9999 gold rings rather than SJC gold. In terms of profits and risks, while pure 9999 gold rings only have risks related to the fluctuation of global gold prices, SJC gold is subject to the influence of fluctuating global gold prices and changes in market management policies when Decree 24/2012 is amended,” said expert An Huy.
