Domestic gold price continues to hit new peak, 999.9 gold ring sold for 68.58 million VND/tael

In one week, the price of 999.9 gold rings increased by more than 2 million VND/tael. Domestic gold prices are stable, 999.9 gold rings are sold for 67.98 million VND/tael.

Domestic gold price

At noon on March 5, the price of SJC gold traded at Saigon Jewelry Company in Ho Chi Minh City was around 78.90 - 80.90, an increase of 400 thousand VND/tael for buying and 400 thousand VND/tael for selling compared to the closing price yesterday. The difference between buying and selling was up to 2 million VND/tael.

Giá vàng trong nước tiếp tục lập đỉnh, vàng nhẫn 999.9 bán ra 68,58 triệu đồng/lượng

The price of SJC gold bars traded at Saigon Jewelry Company in Hanoi is around 78.90 - 80.92 million VND/tael, an increase of 400 thousand VND/tael for buying and 400 thousand VND/tael for selling compared to yesterday's closing price. The difference between buying and selling is up to 2 million VND/tael.

The price of SJC gold bars at Bao Tin Minh Chau Company is trading around 78.55 - 80.40 million VND/tael, an increase of 200 thousand VND/tael for buying and 150 VND/tael for selling compared to the previous closing price.

Gold trading price at Bao Tin Minh Chau

At Phu Quy Group, the price of SJC gold bars is currently trading around 78.55 - 80.45 million VND/tael for buying and selling, an increase of 150 thousand VND/tael for buying and an increase of 150 thousand VND/tael for selling compared to yesterday.

The price of SJC gold bars at Bao Tin Manh Hai Company is trading around 78.55 - 80.40 million VND/tael, an increase of 350 thousand VND/tael for buying and 250 VND/tael for selling compared to the previous closing price.

In addition, the price of 999.9 gold rings (24k) today turned to increase sharply. Specifically, the price of Thang Long dragon gold bars and plain round rings at Bao Tin Minh Chau Company traded at 67.38 - 68.58 million VND/tael for buying and selling, an increase of 650 thousand VND/tael for buying and an increase of 550 thousand VND/tael for selling compared to yesterday.

Thang Long 999.9 (24k) gold jewelry is trading around 66.90 - 68.20 million VND/tael, an increase of 650 thousand VND/tael for buying and 550 thousand VND/tael for selling compared to yesterday.

Gold price traded at Bao Tin Manh Hai

Similarly, Thang Long Gold Dragon blister rings and Kim Gia Bao blister rings are being traded at Bao Tin Manh Hai Company at around 67.38 - 68.58 million VND/tael for buying and selling, an increase of 640 thousand VND/tael for buying and 640 thousand VND/tael for selling compared to yesterday's closing price.

The price of 999.9 gold is around 66.70 - 68.20 million VND/tael, an increase of 650 thousand VND/tael for buying and 640 thousand VND/tael for selling compared to yesterday's closing price. The price of 99.9 gold is currently around 66.60 - 68.10 million VND/tael, an increase of 600 thousand VND/tael for buying and 600 thousand VND/tael for selling compared to yesterday's closing price.

Gold price traded at Phu Quy Group

At Phu Quy Group, Phu Quy 999.9 round rings and Phu Quy 999.9 God of Wealth rings are trading around 67.10 - 68.40 VND/tael, an increase of 650 VND/tael for buying and 650 thousand VND/tael for selling compared to yesterday.

24K 999.9 gold is trading around 66.50 - 68.20 million VND/tael, up 550 thousand VND/tael for buying and up 550 thousand VND/tael for selling compared to yesterday.

World gold price

According to Kitco, the world gold price recorded at noon today (March 5) Vietnam time was at 2,112 USD/ounce. Today's gold price is 35,165 USD/ounce different from yesterday's gold price.

World gold price chart this afternoon

Converted at the current exchange rate at Vietcombank, the world gold price is about 62.27 million VND/tael (excluding taxes and fees). Thus, the price of SJC gold bars is still 16.13 million VND/tael higher than the international gold price.

Gold prices rose to an all-time high in today's trading session, underpinned by ongoing geopolitical tensions and bets on a US Federal Reserve interest rate cut ahead of testimony from Federal Reserve Chairman Jerome Powell later this week.

Gold's rise was fueled by some weak US economic data that fuelled bets that the Fed would cut interest rates in June. But expectations of more signals from the central bank have seen traders once again pull back from large bets on the yellow metal.

World gold prices unexpectedly increased after reporting slower economic data in the US. Analysts said that gold is waiting for a potential short-selling wave as market sentiment is gloomy and on a downward trend.

Ole Hansen, Head of Commodity Strategy at Saxo Bank, noted that investors do not need to rush into gold yet as the US Federal Reserve (Fed) is still expected to cut interest rates, albeit at a slower pace than initially expected.

Ole Hansen said Thursday's benign inflation report means the Federal Reserve could begin its monetary policy easing cycle before the end of the first half of 2024.

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