ANTD.VN - The price of domestic gold rings has set an all-time high in some places, 97.7 million VND/tael in this morning's trading session.
After yesterday's strong increase, the domestic gold market has not cooled down yet. Opening this morning's trading session, gold brands continued to rise. SJC gold increased by 900 thousand VND per tael in both directions as of 10:00 a.m., bringing the buying and selling prices to a new historical record of 95.70 - 97.20 million VND/tael.
For gold rings, the increase ranges from 700 thousand VND to 1.1 million VND per tael. Accordingly, at the same time, Bao Tin Minh Chau gold rings and Phu Quy rings are listed at 95.90 - 97.50 million VND/tael; SJC 999.9 rings are listed at 95.60 - 97.10 million VND/tael. Even DOJI Hung Thinh Vuong rings are up to 96.20 - 97.70 million VND/tael, the most expensive gold ring brand today.
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Gold prices have been increasing continuously for many recent sessions. |
Domestic gold prices increased as the world market heated up, with both spot and future gold prices exceeding the $3,000/ounce mark.
Specifically, at the end of the US trading session, the most active April gold futures contract closed at over $3,010/ounce; spot gold reached $3,001/ounce.
This morning, the Asian market continued to see spot gold increase sharply, currently trading around 3,014 USD/ounce.
The precious metal’s impressive performance can be attributed to a number of macroeconomic factors converging to boost investor sentiment. Among them, the weakness of the US dollar played a significant role, with the US Dollar Index falling 0.32% during the session.
The weakness stems from growing concerns about potential tariffs and trade tensions that could hamper global economic growth.
Recent economic indicators have reinforced these concerns. February retail sales fell short of expectations, while the Empire Manufacturing survey of general business conditions fell to a 14-month low in March, suggesting economic momentum may be waning.
Persistent inflation across many sectors has added to gold’s appeal as a traditional hedge against rising prices. In addition, investors are increasingly focused on the rising U.S. debt, further fueling interest in gold’s reputation as a safe haven asset in times of economic uncertainty.
The geopolitical backdrop, particularly tensions in the Middle East, has also contributed significantly to gold’s position. Market participants are also closely monitoring the potential economic fallout from trade policies that could spark broader global trade disputes.
Analysts believe that these supports for gold will continue, as it is unlikely that many of the variables driving gold prices higher at the same time will disappear in the near future.
Market attention now turns to the upcoming meeting of the Federal Reserve's Open Market Committee (Fed), which is scheduled to start tomorrow and end on Wednesday.
According to the CME's FedWatch tool, there is a 99% chance the Federal Reserve will maintain its current benchmark federal funds rate in a range of 4.25% to 4.50%.
Source: https://www.anninhthudo.vn/gia-vang-lai-lap-dinh-moi-ap-sat-98-trieu-dongluong-post606369.antd
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