| Gold price continuously breaks records, 999.9 gold ring sells for 74.53 million VND/tael. Gold price today increased by 800 thousand, 999.9 gold ring sells for 75.33 million VND/tael. |
Domestic gold price
At noon on April 9, domestic gold prices increased sharply following the increase in world gold prices. Currently, SJC gold prices at Saigon Jewelry Company in Ho Chi Minh City are trading around VND81.00 - 83.00 million/tael, up VND1.2 million/tael for buying and VND1.2 million/tael for selling compared to yesterday's closing price. The difference between buying and selling is VND2 million/tael.
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The price at Saigon Jewelry Company in Hanoi is around 81.00 - 83.02 million VND/tael, an increase of 1.2 million VND/tael for buying and 1.2 million VND for selling compared to yesterday's closing price. The difference between buying and selling is 2 million VND/tael.
The price of SJC gold bars at Bao Tin Minh Chau Company is trading around 81.05 - 82.95 million VND/tael, an increase of 1.35 million VND/tael for buying and 1.2 million VND/tael for selling compared to the previous closing price.
At Phu Quy Group, the price of SJC gold bars is currently trading around 81.00 - 83.00 million VND/tael for buying and selling, an increase of 1.4 million VND/tael for buying and 1.2 million VND/tael for selling compared to yesterday.
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The price of SJC gold bars at Bao Tin Manh Hai Company is trading around 80.65 - 83.02 million VND/tael, an increase of 1.35 million VND/tael for buying and 1.45 million VND/tael for selling compared to the previous closing price.
Along with the price of SJC gold, the price of 999.9 gold rings today increased slightly. Specifically, the price of 999.9 gold rings (24k), the price of Thang Long gold dragon gold bars, and plain round rings at Bao Tin Minh Chau Company traded at 74.18 - 75.38 million VND/tael for buying - selling, an increase of 250 thousand VND/tael for buying and an increase of 50 thousand VND/tael for selling compared to yesterday.
Thang Long 999.9 (24k) gold jewelry is trading around 73.20 - 74.80 million VND/tael, down 50 thousand VND/tael for buying and down 50 thousand VND/tael for selling compared to yesterday.
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| Gold price traded at Bao Tin Manh Hai |
Similarly, Thang Long Gold Dragon blister rings and Kim Gia Bao blister rings are being traded at Bao Tin Manh Hai Company at around 74.08 - 75.28 million VND/tael for buying and selling, an increase of 150 thousand VND/tael for buying and a decrease of 50 thousand VND/tael for selling compared to yesterday's closing price.
The price of 999.9 gold is around 73.20 - 74.70 million VND/tael, down 150 thousand VND/tael for buying and down 150 thousand VND/tael for selling compared to yesterday's closing price. The price of 99.9 gold is currently around 73.10 - 74.60 million VND/tael, down 150 thousand VND/tael for buying and down 150 thousand VND/tael for selling compared to yesterday's closing price.
At Phu Quy Group, Phu Quy 999.9 round rings and Phu Quy 999.9 God of Wealth rings are trading around 74.15 - 75.55 VND/tael, an increase of 250 thousand VND/tael for buying and an increase of 250 thousand VND/tael for selling compared to yesterday.
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| Gold price traded at Phu Quy Group |
24K 999.9 gold is trading around 73.00 - 74.80 million VND/tael, down 100 thousand VND/tael for buying and up 50 thousand VND/tael for selling compared to yesterday.
World gold price
At noon on April 9, Vietnam time, the world gold price stood at 2,344 USD/ounce, a sharp increase of 26 USD/ounce compared to the same time yesterday morning. Yesterday, the gold price plummeted when opening the new week's session, but immediately increased sharply afterwards, reaching a new record high of 2,354 USD/ounce.
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| World gold price trading chart |
Converted to the bank USD price, excluding taxes and fees, the world spot gold price is 67.36 million VND/tael, about 13.04 million VND/tael lower than the domestic SJC gold price.
Countries are buying gold, which has kept prices high. A recent report showed that the People's Bank of China added 160,000 ounces of gold to its reserves in March. Türkiye, India, Kazakhstan and several Eastern European countries have also bought gold this year.
In a recent interview with Kitco News, Abrdn Chief Investment Strategist Robert Minter was optimistic that the gold rally is just getting started. According to him, it won’t be long before Western retail investors jump into the market and the precious metal will continue to conquer new records.
Despite gold purchases by a range of central banks last week, the US Federal Reserve (Fed) remained cautious about starting its next monetary policy easing cycle, with some members of its monetary policy committee saying they would be reluctant to cut interest rates because inflation remains high.
Traders are pricing in a 52% chance that the Fed will cut the federal funds rate by a quarter point in June, according to CME Group data. However, the latest report showing the US job market remains strong has cast doubt on the Fed's ability to pivot monetary policy.
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