SJC gold bar and gold ring prices set new record highs

(NLDO) – Each tael of SJC gold bars and gold rings increased by a million VND, in some places approaching 94 million VND - a new historical peak.

On the morning of March 5, SJC gold bars were simultaneously pushed up by SJC, PNJ, and DOJI companies to 90.7 million VND/tael for buying and 92.7 million VND/tael for selling, an increase of 600,000 VND/tael compared to the end of yesterday.

Some units such as Mi Hong Company traded SJC gold bars at record levels, up to 92.22 million VND/tael for buying and 93.5 million VND/tael for selling.

At one point, Mi Hong pushed the selling price of SJC gold up to 93.7 million VND/tael, far exceeding the historical peak set in February.

Gold prices have been increasing continuously since last weekend. In just the past 3 days, each tael of SJC gold bar has increased by about 3 million VND/tael.

Not only gold bars, the price of gold rings and jewelry of all kinds also increased rapidly. SJC, PNJ, DOJI companies traded gold rings at 90.7 million VND/tael for buying, 92.6 million VND/tael for selling - an increase of 500,000 VND.

The price of gold rings also reached a new peak when Mi Hong Company traded at the same price as SJC gold bars, buying at around 92.1 million VND/tael and selling at 93.5 million VND/tael.

SJC gold bar and gold ring prices both increase dramatically

The shocking increase in domestic gold prices is quite surprising compared to the increase in world prices. On the international market, the gold price at 9:00 a.m. Vietnam time was traded at 2,911 USD/ounce, down about 7 USD/ounce compared to the beginning of the day but still much higher than the price on March 4.

Since the beginning of March, precious metals on the international market have fluctuated quite strongly, increasing from 2,845 USD/ounce to nearly 2,930 USD/ounce.

Gold prices benefited from the sharp decline in the USD in the international market. The USD index is currently trading around 105.6 points, down sharply from the 107.5 point mark a few days ago (down about 1.7%).

The US dollar fell as financial markets worried about escalating global trade tensions over US tariffs on Mexico, Canada and China.

International stocks were sold off and investors shifted capital flows to precious metals, pushing gold prices up strongly.

Currently, the world gold price converted according to the listed exchange rate is about 90.1 million VND/tael.

Source: https://nld.com.vn/gia-vang-mieng-sjc-vang-nhan-lap-dinh-ky-luc-moi-196250305092021225.htm