9999 gold ring price conquers new peak

Despite the world gold price undergoing adjustments after reaching its peak, the price of 9999 gold rings continued to rise on April 8, establishing a new record high.

9999 gold ring price sets a new peak at VND73.3 million per tael at the beginning of the week.

Around 9 a.m., SJC Company traded 9999 gold rings at a buying price of VND72 million per tael and a selling price of VND73.3 million per tael, marking an increase of VND150,000 in both buying and selling rates compared to the previous weekend. PNJ Company also raised its prices by VND200,000 for buying and VND150,000 for selling, reaching VND72 million per tael for buying and VND73.3 million per tael for selling. This marks the highest price level for 9999 gold rings in history.

In contrast, this morning witnessed a fluctuation in the price of SJC gold as gold trading businesses lowered their buying rate and increased selling prices, widening the gap to over VND2.5 million per tael. Specifically, in Ho Chi Minh City, Doji Group listed SJC gold at VND79 million per tael for buying and VND81.6 million per tael for selling, maintaining the buying price while reducing the selling price by VND400,000 compared to the previous weekend. Meanwhile, in Hanoi, SJC Company raised the buying price by VND200,000 but lowered the selling price by the same amount, trading at VND79.7 million per tael for buying and VND81.72 million per tael for selling at the same time.

In the global gold market, spot gold prices on the Kitco exchange stood at US$2,319.4 an ounce on the morning of April 8 (Vietnam time), showing a decline of approximately $11 from the previous weekend's closing price. After conversion, this price equates to around VND70.2 million per tael. Currently, the world gold price sits about VND11.5 million per tael lower than SJC gold and roughly VND3.1 million per tael lower than the price of 9999 gold rings.

Following a week of robust price increases, the world gold price has seen adjustments. Nevertheless, Kitco experts maintain optimism regarding the gold price for this week. Twelve Wall Street analysts participated in a gold survey, with most expressing optimism despite the strong rise in the US dollar and speculations about the Federal Reserve's (FED) potential slowdown in interest rate cuts.

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