| Gold price today reversed sharply down, 999.9 gold ring price sold at 70.58 million VND/tael. 999.9 gold ring price today increased by nearly 600 thousand, the market sold at 70.93 million VND/tael. |
Domestic gold price
At noon on April 1, the price of SJC gold traded at Saigon Jewelry Company in Ho Chi Minh City was around 78.30 - 80.80 million VND/tael, equal to the buying and selling prices compared to yesterday's closing price. The difference between buying and selling prices was 2.5 million VND/tael.
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The price at Saigon Jewelry Company in Hanoi is around 78.30 - 80.82 million VND/tael, equal to the buying and selling prices compared to yesterday's closing price. The difference between buying and selling is 2.5 million VND/tael.
The price of SJC gold bars at Bao Tin Minh Chau Company is trading around 78.95 - 80.95 million VND/tael, 100 thousand VND/tael for buying and 200 thousand VND/tael for selling compared to the previous closing price.
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At Phu Quy Group, the price of SJC gold bars is currently trading around 78.50 - 80.80 million VND/tael for buying and selling, an increase of 100,000 VND/tael for buying and an increase of 100,000 VND/tael for selling compared to yesterday.
The price of SJC gold bars at Bao Tin Manh Hai Company is trading around 78.95 - 80.95 million VND/tael, an increase of 400 thousand VND/tael for buying and 300 thousand VND/tael for selling compared to the previous closing price.
Along with the upward trend of SJC gold price, the price of 999.9 gold rings today continued to increase sharply. Specifically, the price of 999.9 gold rings (24k), the price of Thang Long dragon gold bars, and plain round rings at Bao Tin Minh Chau Company traded at 70.18 - 71.38 million VND/tael for buying - selling, an increase of 450 thousand VND/tael for buying and an increase of 450 thousand VND/tael for selling compared to yesterday.
Thang Long 999.9 (24k) gold jewelry is trading around 69.05 - 70.55 million VND/tael, an increase of 350 million VND/tael for buying and 350 thousand VND/tael for selling compared to yesterday.
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| Gold price traded at Bao Tin Manh Hai |
Similarly, Thang Long Gold Dragon blister rings and Kim Gia Bao blister rings are being traded at Bao Tin Manh Hai Company at around 69.73 - 70.93 million VND/tael for buying and selling, up 350 thousand VND/tael for buying and up 350 thousand VND/tael for selling compared to yesterday's closing price.
The price of 999.9 gold is around 69.10 - 70.60 million VND/tael, an increase of 450 thousand VND/tael for buying and 300 thousand VND/tael for selling compared to yesterday's closing price. The price of 99.9 gold is currently around 69.00 - 70.50 million VND/tael, an increase of 450 thousand VND/tael for buying and 300 thousand VND/tael for selling compared to yesterday's closing price.
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| Gold price traded at Phu Quy Group |
At Phu Quy Group, Phu Quy 999.9 round rings and Phu Quy 999.9 God of Wealth rings are trading around 69.60 - 70.80 VND/tael, an increase of 250 thousand VND/tael for buying and 250 thousand VND/tael for selling compared to yesterday.
24K 999.9 gold is trading around 68.90 - 70.40 million VND/tael, up 100 thousand VND/tael for buying and up 100 thousand VND/tael for selling compared to yesterday.
World gold price
At noon today (April 1, Vietnam time), the world spot gold price stood at around 2,255.4 USD/ounce, up 22.4 USD/ounce compared to the end of last week. The price of gold futures for June 2024 on the Comex New York floor was at 2,270.8 USD/ounce.
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| World gold price chart this afternoon |
Gold prices on Kitco closed last week at $2,233/ounce. Gold futures for April 2024 delivery on the Comex New York floor traded at $2,234/ounce.
World gold prices ended March 2024 up 9%, the highest increase since July 2020. The gold market continues to be optimistic.
The CME FedWatch probability indicator shows a 62% chance the US Federal Reserve will cut interest rates in June. Lower interest rates typically weaken the US dollar, making gold more attractive to investors holding other currencies.
Regardless of what is driving gold to record highs, Adam Button, head of currency strategy at Forexlive.com, said he expects this to be just the beginning.
While Button is bullish on gold, he added that investors should wait for a pullback before jumping in. He pointed out that there appears to be some initial support at $2,150 that could attract some buyers.
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