As of 10:20 AM, Bao Tin Minh Chau has updated its pricing, significantly increasing both gold bar and gold ring prices. Gold bars are now listed at 154.1 – 154.6 million VND per tael, a 3.1 million VND increase in both buying and selling prices compared to yesterday’s close. Gold rings saw a 2 million VND rise, trading at 157.5 – 160.5 million VND per tael, marking a record high.
Meanwhile, Bao Tin Manh Hai maintained its gold bar prices but increased gold ring prices by 1 million VND since the morning. Currently, SJC gold bars at this retailer are priced at 154.1 – 154.6 million VND per tael, while gold rings are at 157 – 158 million VND per tael.
SJC, PNJ, and Doji all listed SJC gold bars at 153.5 – 154.6 million VND per tael. Compared to yesterday’s close, prices at these retailers increased by 3.1 million VND in both directions.
Gold ring prices also surged across most retailers this morning. SJC’s gold rings traded at 151.1 – 153.3 million VND per tael, up 3.1 million VND. PNJ increased prices by 3.5 million VND to 151.5 – 154.5 million VND per tael, while DOJI traded at 151.5 – 154.5 million VND per tael, with buying prices up 2.5 million VND and selling prices up 3.2 million VND.
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In the international market, spot gold was near $4,345/ounce at 8:50 AM (Vietnam time), down 0.18% from yesterday’s close. Earlier, global gold prices surged nearly 2.4% on Monday (October 20), closing at a record high of $4,356/ounce.
Domestically, both gold bar and gold ring prices rose sharply this morning. At 8:40 AM, SJC, PNJ, and Doji listed SJC gold bars at 153.5 – 154.6 million VND per tael, up 3.1 million VND in both directions from yesterday’s close.
Bao Tin Minh Chau has not yet updated its prices, while Bao Tin Manh Hai increased prices by 3.1 million VND in both directions to 154.1 – 154.6 million VND per tael.
Gold ring prices also surged across most retailers this morning. SJC’s gold rings traded at 151.1 – 153.3 million VND per tael, up 3.1 million VND. PNJ increased prices by 3.5 million VND to 151.5 – 154.5 million VND per tael, while DOJI traded at 151.5 – 154.5 million VND per tael, with buying prices up 2.5 million VND and selling prices up 3.2 million VND.
Bao Tin Minh Chau’s gold ring prices remained unchanged from yesterday’s close, while Bao Tin Manh Hai increased prices by 1 million VND in both directions to 156 – 157 million VND per tael.
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Internationally, spot gold was near $4,365/ounce at 7:50 AM (Vietnam time), up 0.23% from yesterday’s close. Earlier, global gold prices surged nearly 2.4% on Monday (October 20), closing at a record high of $4,356/ounce.
The rise in global gold prices is driven by expectations of a Fed rate cut next week and increased safe-haven demand as investors await upcoming U.S.-China trade negotiations and inflation data.
Jeffrey Christian, managing partner at CPM Group, noted that political and economic concerns are pushing prices higher after a sharp sell-off on Friday. He added, “We expect prices to rise further in the coming weeks and months, and wouldn’t be surprised to see $4,500/ounce soon.”
The prolonged U.S. government shutdown, now in its 20th day, has delayed the release of key economic data, leaving investors and policymakers data-starved ahead of next week’s Fed policy meeting.
Traders are 99% certain the Fed will cut rates next week, with another cut expected in December. Gold, a non-yielding asset, tends to rise in low-interest-rate environments.
Investors are also monitoring updates on U.S.-China trade talks, after President Trump confirmed on Friday that his meeting with Chinese President Xi Jinping is still on.
Global gold prices are heading for their 10th consecutive weekly gain, up over 66% this year, driven by geopolitical tensions, central bank purchases, dollar weakness, and inflows into large gold ETFs. Expectations of U.S. rate cuts further support the precious metal’s rally.
Domestically, gold bar prices at 8:00 AM remained unchanged from yesterday’s close. SJC, PNJ, and Doji listed prices at 150.5 – 151.5 million VND per tael.
Bao Tin Minh Chau and Bao Tin Manh Hai listed prices at 151 – 151.5 million VND per tael.
Gold ring prices at major retailers this morning also remained stable. SJC’s gold rings traded at 148 – 150.2 million VND per tael; PNJ listed at 148 – 151 million VND per tael; and DOJI at 149 – 151.3 million VND per tael.
Bao Tin Minh Chau’s gold rings traded at 155.5 – 158.5 million VND per tael, while Bao Tin Manh Hai listed at 155 – 156 million VND per tael.
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