Gold price exceeds 101 million VND for the first time

Saigon Jewelry Company (SJC) listed   gold price   pieces at 99.2 - 101.5 million VND, an increase of 2.3 million VND per tael compared to the weekend. Other major gold brands also raised the price of gold bars accordingly.

For plain gold rings, SJC listed the price this morning at 99.3 - 101.6 million VND per tael, 400,000 - 600,000 VND per tael higher than at the end of the week. Phu Nhuan Jewelry Company (PNJ) raised the price of gold rings to 99.2 - 101.5 million VND. At Bao Tin Minh Chau, plain rings were priced at 99.3 - 101.6 million VND.

Compared to the beginning of the year, each tael of gold increased by about 16 million VND, equivalent to a profit yield of nearly 19%.

Domestic gold prices increased following the precious metal's developments in the international market. The spot gold price on the morning of March 31 also surpassed the $3,100 an ounce mark for the first time, reaching a record $3,106. Converted according to Vietcombank's selling rate, the world gold price is equivalent to VND96.5 million per tael. The difference between the world and domestic gold prices is currently VND5 million per tael.

US President Donald Trump’s upcoming import tax policy, along with tensions in the Middle East and Ukraine, have sent investors rushing to buy gold as a haven. This month, a series of major banks, from Goldman Sachs, Bank of America to UBS, have all raised their gold price forecasts. Goldman expects the price to reach $3,300 by the end of this year. Meanwhile, BofA forecasts the price to reach $3,350 next year.

Source: https://baoquangninh.vn/gia-vang-lan-dau-vuot-101-trieu-dong-3350922.html