Gold prices in Vietnam witnessed a downward trend today, with plain gold rings at SJC Company listed at 75.8-77.4 million VND per tael, a decrease of 250 thousand VND per tael from the previous day. DOJI Group also adjusted their prices down to 76.1-77.3 million VND per tael. Bao Tin Minh Chau and Phu Nhuan Gold, Silver, and Gemstone (PNJ) followed suit with prices ranging from 76.08-77.28 million VND per tael and 76.0-77.25 million VND per tael, respectively.
SJC gold prices remained unchanged from the previous day, staying at the listed rate of 77.0-79.0 million VND per tael. On August 6, SJC gold prices had witnessed a significant drop of 1.3 million VND per tael for buyers and 800 thousand VND per tael for sellers.
In the international market, the spot gold price is currently at 2,381 USD per ounce, equivalent to about 73 million VND per tael, excluding taxes and fees. Gold prices have been highly volatile recently, mirroring the turbulent movements in the stock market, USD value, Bitcoin, and various other assets.
The precious metal took a sudden plunge on August 5, dropping by almost 100 USD per ounce within a few trading hours to 2,360 USD per ounce. However, it rebounded in the early hours of August 6, surging past the 2,400 USD per ounce mark. Unfortunately, by the evening of the same day, gold prices once again took a sharp downturn, falling below the 2,400 USD per ounce level.
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.
Market Update on February 2nd: Oil, Copper, Iron & Steel, Rubber, and Sugar Prices Decline, Gold Surges to Almost 1-Month High.
At the end of the trading session on February 1st, the prices of oil, copper, iron and steel, rubber, and sugar all dropped, while natural gas hit a nine-month low and gold reached its highest point in nearly a month.
