Gold ring price exceeds 93 million VND/tael again

The price of 9999 gold rings sold by Bao Tin Minh Chau this afternoon, March 10, was up to 93.5 million VND/tael.

Gold ring price exceeds 93 million VND/tael - Photo: PHUONG QUYEN

Many other gold brands also listed gold ring prices exceeding 93 million VND/tael.

This afternoon, SJC Company listed the price of gold rings at 93 million VND/tael, buying at 91.1 million VND/tael, an increase of about 200,000 VND/tael compared to last weekend.

At PNJ Company, the selling price of gold rings is 93.2 million VND/tael, buying price is 91.7 million VND/tael.

Meanwhile, at Bao Tin Minh Chau Company, the selling price of gold rings reached 93.5 million VND/tael, and the buying price was 91.9 million VND/tael.

The selling price of SJC gold bars is 93.1 million VND/tael, buying price is 91.1 million VND/tael.

Domestic gold prices increased sharply while world gold prices this afternoon hovered around 2,910 USD/ounce.

Converted according to the exchange rate listed at the bank, the world gold price is equivalent to 90.13 million VND/tael.

Compared to the converted world gold price, the domestic gold price is about 2.97 - 3.37 million VND/tael higher.

This difference increased compared to last week due to faster increase in domestic gold price.

Will world gold prices break out?

Last week, world gold prices increased by about 1.9%, marking the 9th increase in the past 10 weeks.

The depreciation of the US dollar and investors' need to hedge against risks amid great uncertainty over US President Donald Trump's tariff policies are the two main drivers behind the recovery in gold prices.

In addition, data released by the People's Bank of China (PBOC) last weekend showed that the country bought an additional 5 tons of gold reserves in February, bringing its reserves to 2,289 tons of gold.

This is the fourth consecutive month of net gold purchases by the PBOC, after China returned to net gold reserves purchases in November last year after a six-month pause.

The latest weekly Kitco News survey shows that bullish sentiment has returned strongly. However, whether the world gold price can break out or not is still a big question.

Please follow the domestic gold price developments here.

Source: https://tuoitre.vn/gia-vang-nhan-lai-vuot-93-trieu-dong-luong-20250310140331732.htm