Gold price increase
Updated at 11am on March 19, each tael of SJC gold bar increased by 300,000 VND in both buying and selling, reaching a new record price of 97.9-99.4 million VND/tael (buying - selling).
The price of plain round gold rings at SJC recorded the highest price ever at 97.8-99.3 million VND/tael, an increase of 300,000 VND each way.
At some private gold brands, the selling price of plain round gold rings reaches 100 million VND/tael.
Previously, on March 18, gold prices also fluctuated strongly, increasing by more than 2 million VND/tael each afternoon during the day.
Domestic gold prices continuously set records in the context of world prices surpassing the threshold of 3,033 USD/ounce, an increase of more than 35 USD compared to before. Converted at the exchange rate excluding taxes and fees, the precious metal is equivalent to 94 million VND/tael.
Gold hit a record high as investors flocked to the precious metal in search of a safe haven amid fears of escalating conflict in the Middle East and concerns over US President Donald Trump's tariff plans.
The price of gold rings at some private brands is approaching the 99 million VND/tael mark for sale (Photo: Manh Quan).
Investors' attention will be focused on monetary policy meetings of the US Federal Reserve (Fed) and other central banks this week.
The Fed decided to keep interest rates unchanged at its first meeting of the year after making three rate cuts in 2024. Markets now expect further easing in June.
The central rate increased sharply.
The central exchange rate at the end of the session on March 18 was announced by the State Bank at 24,793 VND, an increase of 35 VND compared to the previous session. Applying a 5% band, the USD exchange rate allowed by commercial banks to trade ranges from 23,554 VND to 26,030 VND.
Major banks listed exchange rates at 25,320-25,710 VND (buy - sell), up 30 VND in both buying and selling compared to before. Joint stock banks traded USD at the price range of 25,320-25,720 VND (buy - sell).
In the free market, the USD exchange rate increased by 20 VND in both buying and 40 VND in selling compared to the previous trading session, trading at 25,760-25,840 VND/USD (buying - selling).
Dantri.com.vn
Source: https://dantri.com.vn/kinh-doanh/gia-ban-vang-nhan-tron-dat-dinh-100-trieu-dongluong-20250319075530267.htm
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