ANTD.VN - Investors are "dizzy" as gold prices continuously fluctuate and quickly exceed the 100 million VND/tael mark.
The domestic gold market's price increase has not stopped, continuously breaking old records. The seemingly unreachable mark of 100 million VND/tael has now appeared after only a few hot sessions.
After yesterday's strong increase, SJC gold price continued to increase by nearly 1 million VND per tael this morning, bringing the price to over 99 million VND/tael.
As of 9:30 a.m., SJC gold was listed for buying and selling at VND97.60 - 99.10 million/tael. However, at this time, buying SJC gold is very difficult, so the price of gold rings is pushed very high, increasing to around VND1.5 million per tael.
Specifically, at the same time, Bao Tin Minh Chau gold rings were listed at 98.15 - 99.70 million VND/tael - the most expensive gold ring brand. DOJI Hung Thinh Vuong gold rings were also listed at a sky-high 98.10 - 99.60 million VND/tael; Phu Quy rings were 98.00 - 99.60 million VND/tael. SJC 999.9 rings were listed at 97.50 - 99.00 million VND/tael.
Not stopping there, the gold price list at businesses was continuously adjusted to increase and by noon, the 100 million VND/tael mark had been officially conquered.
As of 2:00 p.m., SJC gold had increased by 1.6 million VND/tael, listed for buying and selling at 98.30 - 99.80 million VND/tael.
Gold rings fluctuate even more strongly. Specifically, at the same time, Bao Tin Minh Chau gold rings are listed at 98.85 - 100.40 million VND/tael - the most expensive gold ring brand.
DOJI Hung Thinh Vuong gold rings are also listed at a sky-high price of VND98.80 - 100.30 million/tael; Phu Quy rings are VND98.50 - 100.20 million/tael. SJC 999.9 rings are listed at VND98.20 - 99.70 million/tael.
 |
Gold rings approach 100 million VND/tael mark |
In the international market, gold prices continued to increase strongly and reached a new record high in the midday trading session in the United States on Tuesday (last night Vietnam time).
April gold prices nearly jumped $34.50 to above $3,040 an ounce. Meanwhile, spot gold in Asia this morning is trading around $3,033 an ounce, up nearly $35 during the session.
Investors' demand for safe havens continues to increase amid growing concerns about the global trade war, new geopolitical developments, and the perception of the US Federal Reserve's (Fed) loose monetary policy.
Israel launched airstrikes across the Gaza Strip early Tuesday, killing at least 400 Palestinians, including women and children, according to hospital sources. The surprise bombing broke a ceasefire that had been in place since January and threatened to reignite the 17-month war. Over the weekend, the United States struck Houthi targets in the Middle East and vowed more strikes.
In addition, according to many, central banks’ diversification away from the US dollar continues to be a driving force in this gold rally. This was triggered by the sanctions imposed on Russia by the US and the West, which prompted diversification away from foreign exchange reserves denominated in US dollars.
This has been reflected in a doubling of gold purchases by central banks, led largely by Western rivals, notably China.
This dynamic has continued under US President Donald Trump, as he has even directed his sanctions at long-standing Western economies, further pushing countries to diversify their reserve bases.
The US data point of the week will be the Federal Reserve Open Market Committee (FOMC) meeting which begins on Tuesday morning and concludes on Wednesday afternoon with a statement and press conference from Fed Chairman Powell.
The market expects no change in interest rates at this meeting, but will closely analyze the messages in the FOMC statement and Mr. Powell's press conference.
Source: https://www.anninhthudo.vn/choang-vang-gia-vang-vuot-dinh-100-trieu-dongluong-post606478.antd
Comment (0)