Each tael of gold increased by nearly 2 million VND

Domestic gold price increased by nearly 2 million VND, up to nearly 102 million VND per tael.

On the afternoon of April 9, Saigon Jewelry Company (SJC) raised gold price The price of the piece increased to 99.7 - 101.9 million VND, 2 million VND higher in buying price and 1.7 million VND higher in selling price compared to the end of yesterday.

Other brands also increased the price of gold bars accordingly. The difference between buying and selling prices is around 2.2 million VND per tael.

At the same time, SJC listed the transaction price of plain rings at 99.5 - 101.7 million VND, an increase of 1.9 million VND for buying and 1.6 million VND for selling.

Phu Nhuan Jewelry Company (PNJ) also raised the price of plain rings to 99.2 - 101.5 million VND. At Bao Tin Minh Chau, plain rings are at 99.9 - 102 million VND per tael.

In the international market, the precious metal increased by more than 50 USD per ounce in the past half day, reaching 3,049 USD per ounce. Converted according to Vietcombank's selling rate, the world gold price is equivalent to 96.2 million VND per tael. The difference between domestic and world prices widened to 5.7 million VND per tael.

In a recent report, Goldman Sachs analysts also said they maintained their year-end gold price forecast at $3,300 an ounce, reflecting largely increased risk associated with investors’ long and short positions.

According to Goldman Sachs, the precious metal is supported by structural demand from central banks in emerging markets, along with increased capital flows into ETFs due to concerns about economic recession and the possibility of the US Federal Reserve (Fed) cutting interest rates.

Plain gold rings for sale at SJC headquarters in District 3, March 2025. Photo: Quynh Tran

The recent correction, according to Goldman Sachs, is an opportunity for investors to open long positions. Gold remains the most prominent asset in the bank's forecast portfolio, as macro risks combined with investors' lack of strong capital inflows create the premise for further price increases.

Domestic, USD price The banking system continued to rise after surpassing the 26,000 VND mark yesterday. Vietcombank raised the USD buying and selling price to 25,792 - 26,182 VND, an increase of more than 40 VND compared to yesterday. BIDV listed the exchange rate at 25,822 - 26,182 VND per USD. Some foreign exchange points in the free market this afternoon bought and sold USD around 26,120 - 26,230 VND.

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