Gold price domestic
At noon on March 30, the price of SJC gold traded at Saigon Jewelry Company in Ho Chi Minh City was around 78.30 - 80.80 million VND/tael, down 700 thousand VND/tael for buying and down 200 thousand VND/tael for selling compared to the closing price yesterday. The difference between buying and selling is 2.5 million VND/tael.
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The price at Saigon Jewelry Company in Hanoi is around 78.30 - 80.82 million VND/tael, down 700 thousand VND/tael for buying and down 200 thousand VND/tael for selling compared to yesterday's closing price. The difference between buying and selling is 2.5 million VND/tael.
The price of SJC gold bars at Bao Tin Minh Chau Company is trading around 78.45 - 80.65 million VND/tael, down 400,000 VND/tael for buying and down 150,000 VND/tael for selling compared to the previous closing price.
At Phu Quy Group, the price of SJC gold bars is currently trading around 78.40 - 80.70 million VND/tael for buying and selling, down 400,000 VND/tael for buying and down 100,000 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 78.45 - 80.65 million VND/tael, down 400,000 VND/tael for buying and down 100,000 VND/tael for selling compared to the previous closing price.
Along with the sharp decline in SJC gold prices, the price of 999.9 gold rings today reversed sharply. 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 68.80 - 70.30 million VND/tael for buying - selling, down 380 thousand VND/tael for buying and down 180 thousand VND/tael for selling compared to yesterday.
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| Gold price traded at Bao Tin Manh Hai |
Thang Long 999.9 (24k) gold jewelry is trading around 68.70 - 70.20 million VND/tael, down 550 million VND/tael for buying and down 450 thousand VND/tael for selling compared to yesterday.
Similarly, Thang Long Gold Dragon blister rings and Kim Gia Bao blister rings are being traded at Bao Tin Manh Hai Company at around 69.38 - 70.58 million VND/tael for buying and selling, down 550 thousand VND/tael for buying and down 450 thousand VND/tael for selling compared to yesterday's closing price.
The price of 999.9 gold is around 68.60 - 70.30 million VND/tael, down 450 thousand VND/tael for buying and down 450 thousand VND/tael for selling compared to yesterday's closing price. The price of 99.9 gold is currently around 68.50 - 70.20 million VND/tael, down 450 thousand VND/tael for buying and down 450 thousand VND/tael for selling compared to yesterday's closing price.
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| Gold price traded at Phu Quy Group |
At Phu Quy Group, Phu Quy 999.9 round rings and Phu Quy 999.9 God of Wealth rings are trading around 69.35 - 70.55 VND/tael, down 450 thousand VND/tael for buying and down 500 thousand VND/tael for selling compared to yesterday.
24K 999.9 gold is trading around 68.80 - 70.30 million VND/tael, down 200 thousand VND/tael for buying and down 200 thousand VND/tael for selling compared to yesterday.
World gold price
According to Kitco, the world gold price early this morning (March 30) Vietnam time was at 2,233 USD/ounce. Today's gold price is 1.38 USD/ounce different from yesterday's gold price.
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| World gold price chart this afternoon |
Converted at the current exchange rate at Vietcombank, the world gold price is about 66,012 million VND/tael (excluding taxes and fees). Thus, the price of SJC gold bars is still 12,988 million VND/tael higher than the international gold price.
The US Commerce Department reported yesterday that the core personal consumption expenditures (PCE) price index - excluding food and energy - rose 2.8% year-over-year in February and 0.3% month-over-month. Both figures were in line with analysts' forecasts. In January, the core PCE also rose 2.8% year-over-year. Including food and energy, the overall PCE rose 0.3% month-over-month, lower than the 0.4% forecast by analysts.
Many analysts said the report did not come as a surprise. Moreover, the US financial markets were closed on Good Friday, so traders did not react to the latest inflation data. Although inflation remains well above the US Federal Reserve's 2% target, it continues to trend lower. Many investors now expect the Fed to keep interest rates unchanged at its May 1 meeting, and then cut rates at its June meeting.
In fact, expectations of cooling inflation were reflected in the market in the middle of the week when gold prices rose to an all-time high of $2,256/ounce, equivalent to VND67.5 million/tael.
Mr. Daniel Ghali, an analyst at TD Securities Bank, said that gold prices will continue to increase even though the Fed has not cut interest rates because the USD is falling and geopolitical tensions are supporting the growth of gold prices.
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