Saigon Jewelry Company raised its gold bar prices by VND1.3 million for both buying and selling compared with the previous day, quoting VND139.9 million per tael for buying and VND141.9 million per tael for selling at 9:45 a.m.
Phu Quy Group increased its buying price by VND1.4 million and its selling price by VND800,000, trading at VND139.4 million and VND141.4 million per tael, respectively.
Meanwhile, Bao Tin Minh Chau Company maintained yesterday’s rates at VND139.4 million per tael for buying and VND141.4 million per tael for selling.
The price of 9999 gold rings also continued to climb this morning. SJC raised prices by VND1 million in both directions, listing VND136 million per tael for buying and VND138.7 million per tael for selling.
Phu Quy Group increased both buying and selling prices by VND1.1 million, trading at VND136.2 million and VND139.2 million per tael.
Bao Tin Minh Chau raised its buying price by VND1.7 million and its selling price by VND700,000, quoting VND 137 million per tael for buying and VND140 million per tael for selling.
In global markets, gold continued its historic rally. At the close of trading in New York on October 7, gold settled at $3,983.6 an ounce, up $24.3 from the previous session. Spot gold on the Kitco exchange surpassed $4,000 an ounce, reaching $4,014.38 an ounce as of 10 a.m. (Vietnam time) on October 8.
After conversion, this price equals VND127.6 million per tael, about VND13.8–14.3 million lower than SJC gold and VND11.1–12.4 million lower than 9999 gold rings.
This marks the first time in history that global gold prices have broken the $4,000 an ounce barrier, fueled by expectations of interest rate cuts and a surge in safe-haven demand amid the ongoing US government shutdown, which shows no sign of resolution.
Major US financial institutions note that gold continues to benefit from strong net buying by Western ETFs and central banks worldwide, further reinforcing its upward momentum.
