On the morning of April 12th, Saigon Jewelry Company (SJC) listed the price of gold bars at 102.7 - 106.2 million VND, an increase of 500,000 VND for the buying price and 1 million VND for the selling price compared to the end of yesterday afternoon. The difference between the buying and selling price widened to 3.5 million VND per tael.
This morning, brands also raised the price of plain gold rings to 105 million VND per tael, with no significant price difference between major jewelry stores. SJC raised the price of plain gold rings to 101.4 - 105 million VND. At Phu Nhuan Jewelry Company (PNJ), the price of gold rings this morning reached 101 - 104.7 million VND. Bao Tin Minh Chau listed plain gold rings at 101.5 - 105 million VND.
Domestic gold prices hit a record high yesterday morning but reversed course in the afternoon. On the international market, the precious metal reached a record high of $3,245 per ounce before closing the week at around $3,236 per ounce. The difference between domestic and international gold prices is currently around 5 million VND per tael.
The turmoil in global financial markets has pushed gold prices to new record highs. The precious metal is believed to still have room for further gains as the list of safe-haven assets continues to shrink.
In their latest report, Goldman Sachs analysts also stated that they are maintaining their year-end gold price forecast at $3,300 per ounce. This largely reflects the increased risk associated with investors' long and short positions.
According to Goldman Sachs, precious metals are being supported by structural demand from central banks in emerging markets. This is coupled with increased capital inflows into ETFs due to concerns about an economic recession and the possibility of a Federal Reserve interest rate cut.
PV (compiled)Source: https://baohaiduong.vn/gia-vang-mieng-len-106-trieu-dong-mot-luong-409246.html
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