At 9 am on July 31st, SJC Gold Company listed the buying price of SJC gold bars at 77 million VND per tael and the selling price at 79 million VND per tael, unchanged from the previous day.
This is also the selling price of commercial banks.
Meanwhile, the prices of 24K gold rings and jewelry surged, with businesses trading around 75.8 million VND per tael for buying and 77.2 million VND per tael for selling, an increase of 200,000 VND per tael compared to the previous day.
Gold ring prices surge again this morning
Domestic gold prices rose sharply following the upward trend in the global market. In the international market, the gold price today once again surpassed the 2,400 USD/ounce mark, reaching 2,405 USD/ounce, an increase of over 20 USD per ounce compared to the previous session. The precious metal rose on international exchanges due to positive news about expectations of a Fed interest rate cut for the first time.
The Fed is currently meeting on monetary policy, and investors expect more information on the interest rate adjustment in September after the meeting concludes.
The US Dollar Index remained around 104.4 points, supporting the upward movement of gold prices.
Currently, the world gold price converted according to the listed exchange rate is around 73.8 million VND per tael, which is lower than the gold ring price by about 3.4 million VND per tael and lower than the SJC gold bar price by about 5.2 million VND per tael. The surge in world gold prices while domestic gold bar prices remain stable has narrowed the price gap.
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: 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.
Gold Prices Surge, Exceeding 78 Million Dong per Tael
This morning (2/2), the domestic gold price continued to soar, surpassing 78 million dong per tael. In just 3 consecutive trading sessions, the domestic gold price has increased by 1.8 million dong per tael.
