Gold surpasses 100 million VND/tael, will it continue to rise?

Specifically, at major brands such as SJC, DOJI, PNJ, the buying price fluctuates at 98.4 million VND/tael, while the selling price reaches 100.4 million VND/tael. Some other gold businesses such as Bao Tin Minh Chau and Bao Tin Manh Hai have slightly higher buying prices, at 98.5 million VND/tael and 98.7 million VND/tael, respectively.

Reasons for the high gold price

Gold prices have been continuously setting record levels recently due to the influence of many macro factors and global economic fluctuations: In the international market, gold prices continue to increase sharply due to expectations about the monetary policy of the US Federal Reserve (Fed). The possibility of the Fed cutting interest rates this year has weakened the USD, thereby pushing gold prices to record highs.

Inflationary pressures remain in many major economies, especially the US and Europe. Gold, considered a safe haven asset, continues to attract investors’ money as financial markets remain unstable.

As the world gold price increases sharply, the domestic gold market also reacts similarly. People tend to buy gold to protect their assets, especially in the context of escalating geopolitical instability.

Trademark	Gold type	Buy (million VND/tael)	Selling (million VND/tael)

SJC

SJC gold bars

98.4

100.4

DOJI

SJC gold bars

98.4

100.4

PNJ

SJC 999.9 gold bar

98.4

100.4

Bao Tin Minh Chau

SJC gold bars

98.5

100.4

Bao Tin Manh Hai

SJC gold bars

98.7

100.4

Source: https://baohatinh.vn/vang-vuot-moc-100-trieu-dongluong-se-tiep-tuc-len-post285001.html