(Dan Tri) - This afternoon (February 10), the price of gold suddenly increased by 1 million VND/tael each way. The selling price of SJC gold bars increased to 91.3 million VND/tael and gold rings were 90.6 million VND/tael.
Gold price increased by millions of dong/tael
In the afternoon trading session on February 10, the price of SJC gold bars was increased by 1 million VND per tael by large enterprises in both buying and selling compared to the opening price, listed at 88.3-91.3 million VND/tael (buy - sell). The difference between buying and selling prices remained at 3 million VND. The price of plain round gold rings was listed at 87.9-90.6 million VND/tael (buy - sell), an increase of 600,000 VND in both directions compared to the opening price.
Thus, compared to the closing price on February 7 (God of Wealth Day), each tael of gold bar increased by VND1.5 million in buying price and VND1 million in selling price. The price of gold rings also increased by VND1.1 million in buying price and VND800,000 in selling price.
Previously, at the opening session, the price of SJC gold bars was listed by large enterprises at 87.3-90.3 million VND/tael (buy - sell), an increase of 500,000 VND in the buying direction and unchanged in the selling direction compared to the closing session last week. The difference between the buying and selling prices was 3 million VND, a decrease of 500,000 VND compared to the previous session. However, this level is still high compared to the difference of 2 million VND that has been maintained for many consecutive months.
Domestic gold prices increased in the context of world prices setting a new record high. In the international market, the precious metal traded around 2,867 USD/ounce, up 4 USD compared to the previous session. At one point, world gold reached an all-time high of 2,886 USD.
Before the God of Wealth day, a survey by Dan Tri reporters at major stores found that plain gold rings were out of stock and SJC gold bars were not for sale. However, close to and on the God of Wealth day, all stores had gold again, and many stores even did not limit the quantity sold, allowing customers to buy as much as they wanted.
Experts say this could be a sign that businesses have been hoarding goods to push up prices before the God of Wealth's day, in order to create an opportunity to sell at the best profit.
Last week, the world gold price increased by more than 2%, marking the 6th consecutive week that the precious metal increased, due to escalating US-China trade tensions, causing investors to rush to buy gold as a safe haven.
According to a Kitco News survey, industry experts and retail traders are bullish on the yellow metal. Of the 17 analysts surveyed, 15 (88%) expect gold prices to hit a new record high, while two (12%) see prices holding steady. None predict a decline in the precious metal.
Gold rings hit a record high at 90.5 million VND/tael (Photo: Nhat Quang).
This week, the market will closely follow the testimony of US Federal Reserve Chairman Jerome Powell before the US Senate and House of Representatives.
Gold traders will be looking to the US January CPI report due on Wednesday, the US PPI and weekly jobless claims due on Thursday, and the January retail sales report due on Friday for further clarity on gold's direction.
Central rate increased
The State Bank of Vietnam this morning listed the central exchange rate at 24,487 VND, up 25 VND from the previous rate. With a 5% margin compared to the central exchange rate, banks are allowed to buy and sell USD in the price range of 23,262-25,711 VND.
Major banks buy and sell USD at 25,170-25,560 VND (buy - sell). Joint stock banks trade USD at the price range of 25,190-25,650 VND.
On the free market, the greenback was traded at 25,580-25,680 VND (buy - sell), down 30 VND in both directions compared to before.
Source: https://dantri.com.vn/kinh-doanh/gia-vang-bat-ngo-tang-ca-trieu-dong-vuot-moc-91-trieu-dong-chieu-ban-20250210071437052.htm
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