The plain gold ring price hovers near 76 million VND per tael, while SJC gold reaches 77 million VND per tael.
At SJC Company, the plain gold ring price dropped by 50 thousand VND per tael to 73.9-75.6 million VND per tael. DOJI Group also decreased their price by 100 thousand VND to 74.5-75.8 million VND per tael. PNJ maintained their price at 73.95-75.6 million VND per tael, while Bao Tin Minh Chau listed theirs at 74.66-75.96 million VND per tael.
SJC gold price remains unchanged at 75 million VND per tael for buyers and 77 million VND per tael for sellers, marking the 20th consecutive day without fluctuations.
In the international market, gold prices dropped by approximately 10 USD per ounce to 2,313 USD per ounce. When converted using Vietcombank’s VND/USD exchange rate, the spot gold price is equivalent to about 71.1 million VND per tael, excluding taxes and fees. If calculated based on the USD exchange rate in the free market, the current world gold price corresponds to 72.5 million VND per tael.
The precious metal continues to face pressure from a strong US dollar. The DXY index, measuring the USD’s strength against other major currencies, stands at 105.6 points, the highest level since late April. The surge in the USD has caused a decrease in the prices of commodities traded in this currency, including gold.
Deadline for Reporting Gold Market Management and Operations Results to SBV Today, January 31
As per the directive of Prime Minister Pham Minh Chinh, today (January 31, 2024) is the deadline for the State Bank of Vietnam (SBV) to submit a report on the summary of Decree 24, which includes proposals for amending and supplementing certain regulations for managing the gold market.
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.
Gold prices: SJC gold and plain gold rings surge simultaneously
On the morning of January 31st, the prices of SJC gold and 24k smooth gold rings in Vietnam saw a simultaneous increase compared to the previous day.
Gold prices surge to nearly 79 million dong per tael ahead of Tet, investors make huge profits.
After dropping sharply from 80.5 million VND per tael to 74 million VND per tael at the beginning of the year, SJC gold price has been showing signs of recovery recently. On February 2nd, the price of gold continued to rise significantly and reached nearly 79 million VND per tael.
Surge in Domestic Gold Prices
At the beginning of February, the domestic gold price witnessed a significant surge.
