Gold price today increased by another 500 thousand, 999.9 gold ring exceeded 69 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 79.50 - 81.50, up 200,000 VND/tael for buying and 200,000 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 79.50 - 81.52 million VND/tael, an increase of 200 thousand VND/tael for buying and 200 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 79.55 - 81.45 million VND/tael, an increase of 200 thousand VND/tael for buying and 200 VND/tael for selling compared to the previous closing price.

At Phu Quy Group, the price of SJC gold bars is currently trading around 79.70 - 81.70 million VND/tael for buying and selling, an increase of 400 thousand VND/tael for buying and an increase of 400 thousand VND/tael for selling compared to yesterday.

The price of SJC gold bars at Bao Tin Manh Hai Company is trading around 79.85 - 81.75 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 continued 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 67.83 - 69.03 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 67.35 - 68.65 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 67.78 - 68.98 million VND/tael for buying and selling, up 150 thousand VND/tael for buying and up 150 thousand VND/tael for selling compared to yesterday's closing price.

The price of 999.9 gold is around 67.10 - 68.60 million VND/tael, an increase of 150 thousand VND/tael for buying and 150 thousand VND/tael for selling compared to yesterday's closing price. The price of 99.9 gold is currently around 67.00 - 68.50 million VND/tael, an increase of 150 thousand VND/tael for buying and 150 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 67.60 - 68.90 VND/tael, an increase of 100 VND/tael for buying and an increase of 100,000 VND/tael for selling compared to yesterday.

24K 999.9 gold is trading around 66.80 - 68.50 million VND/tael, up 100 thousand VND/tael for buying and up 100 thousand VND/tael for selling compared to yesterday.

According to Mr. Huynh Trung Khanh, Vice President of the Vietnam Gold Trading Association, domestic gold prices are being boosted by geopolitical tensions in the world, the trend of buying gold to diversify foreign exchange reserves of central banks, and people's consumption demand. Domestically, Vietnam has not yet allowed gold imports, which is also a factor causing gold prices to skyrocket. Therefore, when the State Bank has not yet taken measures to intervene in the market, SJC gold prices will continue to increase and have a high difference compared to world prices.

Mr. Shaokai Fan - Director of Asia-Pacific region (excluding China) and Director of Global Central Banks at the World Gold Council, also said that the policy of restricting gold imports is the main reason for the large difference in domestic gold prices with world gold prices.

World gold price

At the same time, the spot gold price in the Asian market stood at 2,157 USD/oz, down 1.9 USD/oz, equivalent to a decrease of 0.09%, compared to the closing price on Wednesday in the US market - according to data from the Kitco exchange.

World gold price chart this afternoon

This price is equivalent to about 64.7 million VND/tael if converted according to the USD selling rate at Vietcombank, an increase of 500,000 VND/tael compared to yesterday morning, bringing the total increase since the beginning of the week to 2.5 million VND/tael.

At the close of trading on Thursday in the New York market, the spot gold price increased by about 14.5 USD/oz, equivalent to an increase of nearly 0.7%, closing at 2,156.5 USD/oz. During the trading session on the same day in the Asian market, the gold price reached 2,164 USD/oz, the highest in history.

Jesse Felder, founder of Felder Report Financial Company, said that gold will only increase in the short term because the Fed's interest rate cut policy is likely to take place at the end of the year.

Adrian Ash, director of research at BullionVault, said speculation is fueling gold’s rally, which poses a risk that gold could be sold off to take profits and send prices tumbling.

According to World Gold Council Senior Analyst Krishan Gopaul, 2024 could be a boom year for gold after additional demand surged in January from regular buyers such as China, Türkiye, India…

Many experts say that in the current context when gold prices are still increasing strongly, continuously breaking one record after another, no one knows what the final record for gold prices will be.

Source: https://congthuong.vn/gia-vang-hom-nay-tang-tiep-500-ngan-vang-nhan-9999-vuot-69-trieu-dongluong-307500.html