Gold prices remained unchanged on the morning of September 4 compared to pre-holiday levels on September 2. Major buyers are still offering VNĐ79 million per tael. Selling prices at banks and companies stand at VNĐ81 million per tael.
9999 gold ring prices dipped slightly as global gold rates slipped below the $2,500 per ounce mark. Specifically, at Saigon Jewelry Company (SJC), gold ring prices fell by VNĐ50,000 per tael to VNĐ77.25-78.65 million per tael.
Bao Tin Minh Chau also adjusted their rates downward to VNĐ77.38-78.38 million per tael. DOJI listed prices at VNĐ77.40-78.85 million per tael, while PNJ quoted VNĐ77.4-78.6 million per tael.
Gold prices at Bao Tin Minh Chau
In the international market, gold prices retreated, slipping below the $2,500 per ounce level. Spot gold is currently trading at $2,492 per ounce, equivalent to about VNĐ75 million per tael based on the current VND/USD exchange rate.
Gold has witnessed robust growth in 2024, surging by approximately 20% year-to-date. Analysts attribute the primary driver of global demand for the precious metal to the People’s Bank of China (PBoC)’s substantial gold purchases over the last 18 months.
Is the Gold Market Settling After a Turbulent Week?
After a string of impressive performances throughout the summer, with a 2% increase in July, analysts and traders tempered their optimism for gold in early September.
