Domestic gold price hits unprecedented high

(NLDO) – The price of SJC gold bars and gold rings reached a new peak, approximately 94 million VND/tael, as world prices continued to increase.

On the morning of March 12, the price of SJC gold bars continued to fluctuate strongly. SJC, PNJ, DOJI, and Phu Quy companies simultaneously listed the buying price of SJC gold bars at VND91.6 million/tael and the selling price at VND93.3 million/tael, an increase of VND300,000 per tael compared to yesterday.

Some other businesses pushed the price of gold bars up to 93.5 million VND/tael.

Specifically, Mi Hong gold shop chain raised the buying price of SJC gold bars to 92.5 million VND/tael and selling price to 93.5 million VND/tael, the highest price on the market today.

For 24K gold rings and jewelry gold, Bao Tin Minh Chau Company listed the price of Vang Rong Thang Long gold - of this company up to 92.3 million VND/tael for buying, 93.8 million VND/tael for selling, an increase of 400,000 VND per tael compared to yesterday.

Giá vàng trong nước lên mốc cao chưa từng có- Ảnh 2. — Gold price continues to increase today

SJC Company sells 99.99 plain gold rings at 93 million VND/tael and buys at 91 million VND/tael. PNJ Company sells gold rings at 93.7 million VND/tael, while the price of gold rings at Phu Quy is up to 93.8 million VND/tael.

The price of 99.99 plain gold rings and 24K gold is higher than SJC gold bars. The domestic gold market continues to witness new record peaks.

Domestic gold prices increased sharply as world prices remained above the $2,900/ounce mark. At 9:00 a.m. Vietnam time, today's gold price was at $2,916/ounce, a sharp increase compared to the previous session. Metal prices increased again as the USD plunged, reaching its lowest level since the end of last year.

At the same time, investors are also concerned that the US will impose additional trade tariffs on Canada, which will negatively impact the US economy and, further, could lead to a recession. Therefore, investors continue to sell off stocks, causing US stocks to sink into the red and capital flows to gold for shelter.

Currently, the world gold price converted according to the listed exchange rate is about 90.1 million VND/tael.