(Dan Tri) - At the end of last week, the price of SJC gold bars decreased by 1 million VND in the selling price compared to the first session of the week. Similarly, the price of gold rings also decreased by more than 800,000 VND/tael.
At the end of last week's trading week (from February 24 to March 2), the price of SJC gold bars was listed by large enterprises at VND88.5-90.5 million/tael (buy - sell). The highest price last week was VND90-92.3 million/tael (buy - sell), set on February 25.
The price of plain round gold rings closed last week at 88.5-90.4 million VND/tael (buy - sell).
Compared to the opening session of last week, each tael of SJC gold bars decreased by VND700,000 for buying and VND1 million for selling. As for gold rings, the buying price decreased by VND600,000/tael and VND800,000 for selling.
On the morning of March 3, Vietnam time, the world gold price regained its upward momentum, increasing by more than 30 USD/ounce to 2,876 USD. Converted according to the exchange rate, excluding taxes and fees, this price is equivalent to about 89 million VND/tael.
Previously, after an 8-week increase, the gold market witnessed a strong sell-off, causing the spot price to drop by 86 USD, down to 2,850 USD/ounce at the close of the session on February 28.
According to Kitco News ’ weekly gold survey, bullish sentiment is waning. Of the 14 experts surveyed, only three (21%) expect gold prices to continue rising, while nine (64%) expect prices to fall. The remaining two (14%) are neutral.
Individual investors are also less optimistic. Of the 138 people who participated in the online poll, 62 (45%) expect prices to rise. Conversely, the percentage of those who predict prices to fall and stay the same is 28%.
Gold bar and gold ring prices both fell sharply last week (Photo: Manh Quan).
This week, markets will focus on February non-farm payrolls, along with data on service sector and manufacturing activity. The event expected to have a broader impact on gold is the European Central Bank's monetary policy decision.
The unit is expected to cut interest rates again next week, which could provide some support to the US dollar and create headwinds for gold.
Free USD price increased sharply
The central exchange rate announced by the State Bank is 24,726 VND/USD, an increase of 30 VND compared to the previous session. With a 5% amplitude, the ceiling exchange rate that banks are allowed to trade is 25,960 VND/USD and the floor exchange rate is 23,491 VND/USD.
At commercial banks, the USD exchange rate decreased by about 10-30 VND. Large banks listed the exchange rate at 25,340-25,730 VND (buy - sell). Joint stock banks traded USD at the price range of 25,360-25,760 VND (buy - sell).
In the free market, the USD exchange rate also increased by 60 VND in both buying and selling compared to the previous trading session, currently trading at 25,730-25,830 VND/USD (buying - selling).
Source: https://dantri.com.vn/kinh-doanh/gia-vang-bay-1-trieu-dong-moi-luong-sau-tuan-bien-dong-manh-20250303070115240.htm
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