Gold prices surged today, with notable increases observed across various jewelry brands. Specifically, SJC listed its 9999 gold ring price at VND 77.1-78.5 million per tael, a VND 200,000 increase from yesterday. Bao Tin Minh Chau followed suit with a slight variation, pricing their gold at VND 77.08-78.38 million per tael. DOJI and PNJ, prominent jewelry brands, offered competitive rates of VND 77.1-78.35 million and VND 77.1-78.35 million per tael, respectively.
SJC’s gold prices remained unchanged today, holding steady at VND 79 million per tael for buyers and VND 81 million per tael for sellers.
In the international market, gold investors witnessed a rally as prices reached all-time highs. Spot gold even surpassed the $2,530 per ounce mark at one point, an unprecedented feat. SP Angel, a brokerage firm, attributed the surge to reports of the People’s Bank of China resuming gold imports, sparking speculation of further purchases.
Additionally, expectations of an imminent Federal Reserve rate cut and persistent geopolitical tensions continue to bolster gold’s appeal. Some experts have even forecasted gold prices to reach $2,600 per ounce this year.
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.
