Gold price today increased by 500 thousand for both buying and selling, SJC gold sold for 81.32 million VND/tael

Domestic gold price

At noon on March 7, the price of SJC gold traded at Saigon Jewelry Company in Ho Chi Minh City was around 79.30 - 81.30, up 500 thousand VND/tael for buying and 500 thousand VND/tael for selling compared to yesterday's closing price. The difference between buying and selling was up to 2 million VND/tael.

The price of SJC gold bars traded at Saigon Jewelry Company in Hanoi is around 79.30 - 81.32 million VND/tael, an increase of 500 thousand VND/tael for buying and 500 thousand VND/tael for selling compared to yesterday's closing price. The difference between buying and selling is up to 2 million VND/tael.

The price of SJC gold bars at Bao Tin Minh Chau Company is trading around 79.35 - 81.25 million VND/tael, an increase of 500 thousand VND/tael for buying and 500 VND/tael for selling compared to the previous closing price.

At Phu Quy Group, the price of SJC gold bars is currently trading around 79.30 - 81.30 million VND/tael for buying and selling, an increase of 500 thousand VND/tael for buying and an increase of 500 thousand VND/tael for selling compared to yesterday.

The price of SJC gold bars at Bao Tin Manh Hai Company is trading around 79.35 - 81.25 million VND/tael, an increase of 500 thousand VND/tael for buying and 500 VND/tael for selling compared to the previous closing price.

In addition, the price of 999.9 gold rings (24k) today turned to increase sharply. Specifically, the price of Thang Long dragon gold bars and plain round rings at Bao Tin Minh Chau Company was traded at 67.63 - 68.83 million VND/tael for buying and selling, an increase of 200 thousand VND/tael for buying and an increase of 200 thousand VND/tael for selling compared to yesterday.

Thang Long 999.9 (24k) gold jewelry is trading around 67.15 - 68.45 million VND/tael, an increase of 200 thousand VND/tael for buying and 200 thousand VND/tael for selling compared to yesterday.

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 67.63 - 68.83 million VND/tael for buying and selling, up 200,000 VND/tael for buying and up 200,000 VND/tael for selling compared to yesterday's closing price.

The price of 999.9 gold is around 66.95 - 68.45 million VND/tael, up 200 thousand VND/tael for buying and 200 thousand VND/tael for selling compared to yesterday's closing price. The price of 99.9 gold is currently around 66.85 - 68.35 million VND/tael, up 200 thousand VND/tael for buying and 200 thousand VND/tael for selling compared to yesterday's closing price.

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 67.50 - 68.80 VND/tael, an increase of 300 VND/tael for buying and 300,000 VND/tael for selling compared to yesterday.

24K 999.9 gold is trading around 66.80 - 68.50 million VND/tael, up 250 thousand VND/tael for buying and up 250 thousand VND/tael for selling compared to yesterday.

World gold price

Recorded at 10:30 a.m. today (Vietnam time, March 7), according to Kitco, the world spot gold price was at $2,150/ounce, up $19,995/ounce compared to yesterday's gold price. Gold continued to increase in today's trading session based on expectations of US monetary easing.

World gold price chart this afternoon

Converted at the current exchange rate at Vietcombank, the world gold price is about 63,189 million VND/tael (excluding taxes and fees). Thus, the price of SJC gold bars is still more expensive than the international gold price of 15,811 million VND/tael.

Accordingly, Mr. Powell said that an interest rate cut could take place this year. Reiterating the need for more evidence that the inflation war has been successful, the Fed Chairman said that inflation has fallen significantly. The USD saw a sell-off and US bond yields fell slightly after Mr. Powell's speech.

Last year’s gold buying momentum is continuing into this year, according to Krishan Gopaul, senior analyst at the World Gold Council. He predicts that 2024 could be another boom year for the yellow metal after witnessing a sharp increase in additional gold demand in January 2024 from regular gold buyers such as China, Türkiye, India, etc.

Another piece of information that also has a certain impact on gold prices is that the World Gold Council announced that in January 2024, 6 countries bought gold.

Accordingly, the Central Bank of Türkiye bought 12 tons of gold to increase its total gold holdings to 552 tons. The People's Bank of China increased its gold holdings by 10 tons - marking the 15th consecutive month of additions with a total gold reserve of 2,245 tons. The Reserve Bank of India added nearly 9 tons of gold to increase its total gold holdings to 812 tons...

With the above information, speculators probably expect gold prices to continue to rise, so they are focusing their capital on precious metals.

Source: https://congthuong.vn/gia-vang-hom-nay-tang-500-ngan-ca-chieu-mua-va-ban-vang-sjc-ban-ra-8132-trieu-dongluong-307317.html