In one week, the price of 999.9 gold rings increased by more than 2 million VND/tael.

Domestic gold price increases hourly, SJC gold reaches 81 million VND/tael. 999.9 gold ring price sets new peak, selling price 66.69 million VND/tael

Domestic gold price

The price of SJC gold this afternoon (March 3) was listed by Saigon Jewelry Company at 77.8 - 80.30 million VND/tael for buying and selling, down 540 thousand VND compared to yesterday's closing price.

Trong một tuần giá vàng nhẫn 999.9 tăng hơn 2 triệu đồng/lượng

Doji Group listed SJC gold at 77.80 - 80.30 million VND/tael for buying and selling, down 500,000 VND/tael compared to the end of the previous trading session.

The price of SJC gold bars at Bao Tin Minh Chau Company is trading around 77.85 - 80.15 million VND/tael, down 700,000 VND/tael for buying and down 750,000 VND/tael for selling compared to the previous closing price.

At Bao Tin Manh Hai, SJC gold bars are being traded at 77.85 - 80.15 million VND/tael for buying and selling, down 700,000 VND/tael for buying and down 700,000 VND/tael for selling compared to yesterday.

Gold price traded at Bao Tin Manh Hai

In addition, the price of 999.9 gold rings (24k) today increased slightly compared to yesterday. Specifically, the price of Thang Long dragon gold bars and plain round rings at Bao Tin Minh Chau Company traded at 66.78 - 67.98 million VND/tael for buying - selling, an increase of 80 thousand VND/tael for buying, an increase of 80 thousand VND/tael for selling compared to the closing price yesterday.

Thang Long 99.99 (24k) gold jewelry is trading around 66.30 - 67.60 million VND/tael, an increase of 50 thousand VND/tael for buying and 50 thousand VND/tael for selling compared to yesterday.

Similarly, Thang Long Gold Dragon blister rings and Kim Gia Bao blister rings are being traded at Bao Tin Manh Hai Company at around 66.78 - 67.98 million VND/tael for buying and selling, an increase of 80 thousand VND/tael for buying and 80 thousand VND/tael for selling compared to yesterday's closing price.

The price of 999.9 gold is around 66.10 - 67.60 million VND/tael, an increase of 50 thousand VND/tael for buying and 50 thousand VND/tael for selling compared to yesterday. The price of 99.9 gold is currently around 66.00 - 67.50 million VND/tael, an increase of 50 thousand VND/tael for buying and 50 thousand VND/tael for selling compared to yesterday.

According to experts, at this time, domestic gold prices are benefiting from information on the world market thanks to purchases by central banks and retail demand in emerging markets.

In general, since the beginning of the week, the price of SJC gold has increased by 1.3 million VND/tael for buying and 1.6 million VND/tael for selling. Meanwhile, the price of gold rings has increased by 2.1 million VND/tael for buying and 2.2 million VND/tael for selling.

World gold price

In early afternoon gold trading on the world market, gold prices increased due to soaring demand. Ending the week at 2,082.73 USD/ounce, up 1.9%.

World gold price chart this afternoon

Converted to VND (including tax and processing fee), the difference between the world gold price and domestic SJC is about 17.95 million VND/tael, nearly 4 million VND/tael lower than ring gold.

Gold’s record weekly close is fueling significant bullish sentiment in the market; however, some analysts have said that this breakout still needs to be tested and investors should be cautious when chasing the price.

While the rally has breathed new life into the precious metals market, some analysts have said that price action remains sensitive as profit-taking and volatility could push prices back within their well-defined channels.

Forecasting the world gold price, GoldSeek President Peter Spina said that the demand for gold makes the price increase in the short term. However, this expert noted that this precious metal will still be stuck in the current range until the market knows for sure about the timing of the US Federal Reserve (Fed) interest rate cut.

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