Specifically, the price of SJC-branded gold bars records a new milestone at over VND100 million (US$3,913) per tael, while the price of 9999 gold rings is also approaching VND101 million (US$3,952) per tael. The figures hit an all-time high earlier in the session.
Gold prices rose sharply despite the Fed holding rates steady for the second consecutive time.
Around 9 a.m. on the same day, Bao Tin Minh Chau Jewelry Company increased the price of 9999 gold rings by VND900,000 (US$35.2) for both buying and selling compared to the previous day, trading at VND99.25 million (US$3,881) per tael for buying and VND100.9 million (US$3,948) per tael for selling.
Phu Quy Gold Investment Joint Stock Company listed 9999 gold rings at VND99 million (US$3,874) per tael for buying and VND100.8 million (US$3,942) per tael for selling, increasing the buying price by VND600,000 (US$23.5) and the selling price by VND900,000 (US$35.2) compared to the previous day.
Saigon Jewelry Company adjusted the buying and selling prices up by VND900,000 (US$35.2) per tael and VND500,000 (US$19.6) respectively, quoting VND98.4 million (US$3,850) per tael for buying and VND100.3 million (US$3,924) per tael for selling.
Phu Nhuan Jewelry Company increased both buying and selling prices by VND500,000 (US$19.6), trading at VND98.6 million (US$3,858) per tael for buying and VND100.4 million (US$3,928) per tael for selling.
The prices of 9999 gold rings were spiking higher at VND100.9 million (US$3,948) per tael.
SJC-branded gold bullion earlier in the session hit another record high as all gold trading businesses have simultaneously listed prices above VND100 million (US$3,913) per tael.
Mi Hong Gold Shop raised its buying price by VND500,000 (US$19.6) per tael and selling price by VND1 million (US$39.1) per tael, listing at VND98.5 million (US$3,854) per tael for buying and VND100.5 million (US$3,933) per tael for selling. This is a record-high price for SJC gold bars.
Saigon Jewelry Company and Phu Nhuan Jewelry Company increased both buying and selling prices by VND600,000 (US$23.5) per tael, listing at VND98.6 million (US$3,858) per tael for buying and VND100.4 million (US$3,939) per tael for selling.
Bao Tin Minh Chau Jewelry Company and Phu Quy Gold Investment Joint Stock Company increased the buying price by VND800,000 (US$31.3) per tael and the selling price by VND900,000 (US$35.2) per tael, setting the new prices at VND98.8 million (US$3,862) per tael (buying) and VND100.4 million (US$3,925) per tael (selling).
On the global gold market, the price for New York spot gold closed on the night of March 19 at US$3,047.3 per ounce, up US$12.9 per ounce from the previous session.
As of March 20 morning (Vietnam time), spot gold on the Kitco hit US$3,051.4 per ounce, an increase of US$4 per ounce compared to the New York closing price, marking fresh all-time highs for global gold prices.
After conversion, this price is equivalent to VND94.5 million (US$3,698) per tael, which is VND5.9 million (US$231) per tael lower than SJC gold bars and VND5.7 million (US$223) per tael lower than 9999 gold rings.
