The buying price of gold bars has surged to 78 million VND per tael, with the selling price reaching 80 million VND per tael. This marks the most significant increase in the price of SJC gold bars since July 19th.
The price of plain gold rings has also witnessed a substantial increase of 500,000 to 600,000 VND per tael, with the selling price touching 78 million VND per tael.
Specifically, at SJC, the plain gold ring prices are listed at 76.6-78.0 million VND per tael. DOJI Group offers rates of 76.65-77.90 million VND per tael, while Bao Tin Minh Chau and PNJ quote prices at 76.68-77.88 million VND and 76.6-77.9 million VND per tael, respectively.
Domestic gold prices have witnessed a sharp uptick following the dramatic rise in global gold prices to 2,477 USD per ounce, nearing the historical peak of 2,484 USD per ounce. Precious metal experts predict that gold will soon surpass the 2,500 USD per ounce mark.
As of 9:00 AM on August 13th, the global gold price stood at 2,466 USD per ounce, equivalent to approximately 75.7 million VND per tael (excluding taxes and fees). The surge in gold prices can be attributed to safe-haven demand amid escalating tensions in the Middle East. Additionally, expectations of monetary policy easing by the US Federal Reserve at their upcoming meeting have further bolstered support for the precious metal.
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.
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.
