| Gold price reversed and increased by 600 thousand, 999.9 gold ring exceeded 77 million VND/tael. SJC gold price continued to increase today, reaching 84 million VND/tael, 999.9 gold ring decreased slightly. |
Domestic gold price
At noon on April 21, the price of SJC gold decreased slightly by about 100 thousand VND/tael depending on the enterprise. Currently, the price of SJC gold at Phu Nhuan Jewelry Joint Stock Company is trading around 81.80 - 83.85 million VND/tael, down 50 thousand VND/tael for buying and down 50 thousand VND/tael for selling compared to yesterday.
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The price of SJC gold bars at Bao Tin Minh Chau Company is trading around 82.00 - 83.85 million VND/tael, down 50 thousand VND/tael for buying and down 150 thousand VND/tael for selling compared to yesterday.
At Phu Quy Group, the price of SJC gold bars is currently trading around 81.80 - 83.80 million VND/tael for buying and selling, down 50 thousand VND/tael for buying and down 50 thousand VND/tael for selling compared to yesterday.
The price of SJC gold bars at Bao Tin Manh Hai Company is trading around 82.00 - 83.85 million VND/tael, down 50 thousand VND/tael for buying and down 150 thousand VND/tael for selling compared to the previous session.
Along with the decrease in SJC gold price, the price of 999.9 gold rings today decreased slightly according to each enterprise. 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 75.26 - 76.96 million VND/tael for buying - selling, down 100 thousand VND/tael for buying and down 100 thousand VND/tael for selling compared to yesterday.
Thang Long 999.9 (24k) gold jewelry is trading around 74.40 - 76.40 million VND/tael, down 100,000 VND/tael for buying and down 100,000 VND/tael for selling compared to yesterday.
Similarly, Thang Long Gold Dragon blister rings and Kim Gia Bao blister rings of Bao Tin Manh Hai Company are trading around 75.26 - 76.96 million VND/tael for buying and selling, down 200,000 VND/tael for buying and down 200,000 VND/tael for selling compared to yesterday.
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| Gold price traded at Bao Tin Manh Hai |
The price of 999.9 gold is around 74.40 - 76.60 million VND/tael, down 200 thousand VND/tael for buying and down 200 thousand VND/tael for selling compared to yesterday's session. The price of 99.9 gold is currently trading around 74.30 - 76.50 million VND/tael, down 200 thousand VND/tael for buying and down 200 thousand VND/tael for selling compared to yesterday's session.
At Phu Quy Group, Phu Quy 999.9 round rings and Phu Quy 999.9 God of Wealth rings are trading around 75.30 - 76.85 million VND/tael, down 100,000 VND/tael for buying and down 100,000 VND/tael for selling compared to yesterday.
The price of 999.9 gold is around 74.50 - 76.60 million VND/tael, down 200,000 VND/tael for buying and down 200,000 VND/tael for selling compared to yesterday's session.
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| Gold bar trading at PNJ Company |
It is expected that at 10:00 am tomorrow (April 22), the State Bank will auction 16,800 taels of SJC gold bars. Each transaction lot is 100 taels and the deposit rate is 10%. The reference price to calculate the deposit value is 81.8 million VND per tael and the price step is 10,000 VND/tael.
The minimum volume a member is allowed to bid is 14 lots (1,400 taels), the maximum volume allowed to bid is 20 lots. Each bidding member is only allowed to register a minimum price equal to or higher than the floor price announced by the State Bank of Vietnam.
The State Bank will send a notice one day before the auction. After the announcement of the floor price, credit institutions and gold trading enterprises will start filling out the bids. The above units have 30 minutes to decide on the volume and purchase price, one hour after the auction closes, the State Bank will announce the results.
World gold price
The world gold price recorded at noon today, Vietnam time, was 2,391 USD/ounce. Converted according to the current exchange rate at Vietcombank, the world gold price is about 72.22 million VND/tael (excluding taxes and fees). Thus, the price of SJC gold bars is still 9.78 million VND/tael higher than the international gold price.
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| World gold price chart this afternoon |
Demand for gold has increased in the international market recently despite many officials of the US Federal Reserve (Fed) saying that high interest rates should be maintained for a while longer.
Kitco’s survey on gold prices next week also showed optimism about the development of gold prices. In the survey on Wall Street, 14 analysts participated in the survey, of which 71% said gold prices would increase, 21% said gold prices would decrease and only 7% said gold prices would remain unchanged.
Similarly, in an online survey on Main Street, 149 investors responded, of which 64% predicted gold prices would continue to rise, 19% said gold prices would fall and the rest predicted the precious metal would remain flat.
Some analysts predict that gold prices could rise by another $100 or even $200 an ounce. The next milestone the metal could conquer could be $2,500 an ounce if the factors supporting gold's upward momentum continue.
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