DNVN - On the morning of February 6, domestic gold prices continued to increase sharply due to the influence of the world market's upward momentum, officially surpassing the 91 million VND/tael mark.
Illustration photo. Source: INT
Specifically, at 9:00 a.m., Saigon Jewelry Company (SJC) listed the price of SJC gold bars at VND88.2 - 91.2 million/tael (buy - sell), an increase of VND200,000/tael compared to the previous trading session.
At the same time, DOJI Gold and Gemstone Group also adjusted the price of SJC gold bars to 88.2 - 91.2 million VND/tael (buy - sell), recording a similar increase of 200,000 VND/tael in both directions.
Besides gold bars, the price of gold rings at Saigon Jewelry Company SJC is listed at 88.1 - 90.6 million VND/tael (buy - sell), an increase of 100,000 VND/tael compared to the previous session.
At Bao Tin Minh Chau Company, the price of gold rings also tended to increase, reaching 88.1 - 91.15 million VND/tael (buy - sell), 100,000 VND/tael higher than the previous trading session.
In the international market, gold prices continued to peak in the trading session on February 5 as investors increased purchases to preserve assets.
Concerns about the escalating trade conflict between the US and China have increased risks to the global economy.
At 1:59 a.m. (Vietnam time), spot gold rose 0.8% to $2,865.61 an ounce, after hitting a new peak of $2,882.16 an ounce earlier in the session. US gold futures also rose 0.6% to $2,893 an ounce at the close.
“Gold continues to be heavily influenced by trade uncertainty,” said Peter Grant, vice president and senior metals strategist at Zaner Metals. “Tariffs on China and retaliation have unsettled markets, keeping safe-haven flows in play.”
Earlier this week, China retaliated by imposing tariffs on US goods, escalating trade tensions between the world’s two largest economies. Federal Reserve officials have also warned that US tariffs could push up inflation. Some have suggested that price volatility could prompt the Fed to reconsider the pace of rate cuts.
Investors are now waiting for the US jobs report, due out on Friday, February 7, to gauge the outlook for interest rates. Gold is considered a hedge against inflation, but if interest rates rise, the appeal of the precious metal could wane because it does not offer a yield.
Cao Thong (t/h)
Source: https://doanhnghiepvn.vn/kinh-te/gia-vang-ngay-6-2-2024-vuot-nguong-91-trieu-dong-luong/20250206102611626
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