At 3:45 p.m., Bao Tin Minh Chau Company traded gold ring prices at 97.25 - 98.8 million VND/tael (buy - sell), an increase of 1.3 million VND/tael in the selling price compared to the opening price of the morning session.
Meanwhile, DOJI Gold and Gemstone Group traded gold rings at 97.2 - 98.7 million VND/tael (buy - sell). Phu Quy Gold Investment JSC traded gold rings at 97.1 - 98.6 million VND/tael (buy - sell).
Saigon Jewelry Company SJC listed SJC gold bars at 96.7 - 98.2 million VND/tael. Thus, the domestic selling price of gold rings is about half a million VND/tael higher than the price of SJC gold bars.
In the context of high gold ring prices, many people still tend to buy. At the "gold street" Tran Nhan Tong ( Hanoi ) on the afternoon of March 18, some stores announced that they only accept purchases or limit the quantity of sales from 1 - 3 taels of gold per customer.
The recent "skyrocketing" increase in domestic gold prices is following the increase in world gold prices. Specifically, at 3:45 p.m. on March 18 (Vietnam time), the world gold price was trading around 3,026.22 USD/ounce, up 0.95% in the past 24 hours. Converted according to Vietcombank exchange rate, 1 tael of world gold costs about 93.8 million VND.
The world gold price is currently about 5 million VND/tael lower than the domestic gold ring price, and about 4.4 million VND/tael lower than the SJC gold bar price.
According to financial experts, the world gold price today increased sharply due to the increased demand for safe-haven assets, due to the impact of US President Donald Trump's drastic trade policies. Trade tensions, geopolitical conflicts and expectations of changes in the Fed's monetary policy have prompted investors to seek stability, and gold is an expected safe haven.
Dr. Nguyen Tri Hieu, a banking and finance expert, said that gold buyers at this time need to closely monitor the market every hour. Although gold prices are forecasted to continue their upward trend, there will be periods of sharp price adjustments and declines during the upward process. In addition, as demand increases and sales become more limited, more fraud will occur.
Source: https://baohaiduong.vn/gia-vang-nhan-lap-dinh-moi-gan-99-trieu-dong-1-luong-407548.html
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