World gold price approaches 2,800 USD/ounce, gold rings reach 89.3 million VND/tael

ANTD.VN - The world gold price has set a new historical peak, just a short distance from the threshold of 2,800 USD/ounce. Domestically, gold rings have also set a new record, 89.3 million VND/tael.

This morning, the price of SJC gold listed on the market by 4 state-owned commercial banks (Agribank, BIDV, VietinBank, Vietcombank), SJC Company and large enterprises remained unchanged, at 87.00 - 89.00 million VND/tael.

Meanwhile, the price of gold rings at many large enterprises has increased by about 300 thousand VND/tael, setting an unprecedented high price. Specifically, Phu Quy round rings are listed at 88.10 - 89.30 million VND/tael (buy - sell); DOJI Hung Thinh Vuong rings are 88.30 - 89.30 million VND/tael; Bao Tin Minh Chau's Thang Long Gold Dragon plain round ring is 87.98 - 88.98 million VND/tael; SJC 999.9 rings are 87.00 - 88.80 million VND/tael...

Gold ring prices continue to rise

Gold prices continue to heat up as the precious metal is setting a new historical peak in the world. The price of December gold futures last night, Vietnam time, increased by more than 30 USD/ounce to 2,785 USD/ounce, after reaching an intraday high of 2,787.3 USD.

Meanwhile, spot gold also increased by nearly 38 USD/ounce, currently trading around 2,781 USD/ounce.

The precious metal has gained about 35% this year amid a confluence of global factors boosting investor demand.

These factors include: geopolitical conflicts, normalization of interest rates by the Federal Reserve, continued strong demand from global central banks and uncertainty about the outcome of the upcoming US presidential election and the possibility of further fiscal stimulus measures in many countries…

Several geopolitical flashpoints have added to investors’ concerns at the moment. The ongoing Russia-Ukraine conflict has taken a new turn with North Korea reportedly deploying 10,000 troops to support Russian forces.

Meanwhile, tensions in the Middle East continue to escalate, with the Israeli parliament recently banning the United Nations' Palestinian relief agency from operating in the country, a decision that could have dire consequences for millions of Palestinians.

Meanwhile, demand for gold from central banks, especially in emerging markets, continued to increase as they actively bought as they sought to reduce their dependence on the US dollar. Sustained demand from these institutions provided significant support for gold prices throughout the year.

Source: https://www.anninhthudo.vn/gia-vang-the-gioi-tien-sat-2800-usdounce-vang-nhan-cham-893-trieu-dongluong-post594005.antd