Gold ring price sets record of over 73 million VND/tael

On the morning of April 6, domestic gold trading brands simultaneously raised gold prices following world developments.

Each tael of 24K plain rings quoted by gold shops at the opening increased by nearly 1 million VND compared to yesterday afternoon, bringing this type of gold to over 73 million VND/tael for the first time.

Accordingly, Saigon Jewelry Company (SJC) increased the buying price by VND800,000 to VND71.6 million and the selling price by VND900,000 to VND72.9 million. At 10:00 a.m., the company continued to adjust the buying and selling price by VND100,000 to VND71.7 - 73 million/tael.

At Bao Tin Minh Chau and DOJI, the buying and selling price of plain rings this morning is around 72.1 - 73.5 million VND per tael.

Thus, the price of 24K plain rings continuously breaks records and increases by nearly 10 million VND per tael, equivalent to 16% compared to the beginning of this year.

Gold bar prices also increased this morning, but the increase was more modest and did not break the record of 82.5 million VND set last month. SJC increased the buying price by 200,000 VND to 79.7 million VND and increased the selling price by 600,000 VND to 82.1 million VND/tael.

At DOJI Gold and Gemstone Group, the price of gold bars also increased to 79.2 - 82 million VND/tael.

With today's upward momentum, the price of gold bars increased by more than 8 million VND/tael compared to the beginning of the year, equivalent to nearly 11%.

Due to concerns about risks related to the gold bar policy, the shift in demand from gold bars to plain rings has caused the price of plain rings to increase more strongly. Accordingly, the price gap between gold bars and plain rings is increasingly narrowing, currently around 8.5-9 million VND/tael.

The world gold price set a record of nearly 2,330 USD/ounce in the last trading session of the week, pushing up the domestic price. Currently, each tael of SJC gold bar is about 11.6 million VND higher than the world price, while the difference for gold rings is about 2.5-3 million VND.

At the end of the session on April 5, the precious metal increased by more than 32 USD, to 2,329 USD/ounce - an all-time high. Converted according to Vietcombank exchange rate, the world gold price is equivalent to 70.54 million VND/tael.

The precious metal’s rise was driven by a combination of factors, including tensions in the Middle East, expectations of lower US interest rates, speculative buying and central bank demand, helping the metal maintain its upward momentum despite data released yesterday showing a robust US jobs market in March.

In the foreign exchange market, the domestic exchange rate on the official market remained unchanged this morning, while the black market dollar price decreased slightly. Vietcombank listed the buying and selling rate at 24,750 - 25,120 VND/USD. The greenback at foreign exchange points on the free market hovered around 25,405 - 25,485 VND/USD.

TB (according to VnExpress)

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