Bao Tin Minh Chau raised the price of 9999 gold rings by VND200,000 per tael for both buying and selling compared to the end of last week, quoting VND95.2 million per tael for buying and VND96.8 million per tael for selling, as of 9:30 a.m. on March 17.
Phu Quy Group listed 9999 gold rings at VND95.2 million per tael for buying and VND96.7 million per tael for selling, also up VND200,000 per tael in both directions.
Saigon Jewelry Company increased prices by VND300,000 per tael for both buying and selling, setting them at VND94.7 million per tael for buying and VND96 million per tael for selling.
Phu Nhuan Jewelry Company raised its buying price by VND400,000 per tael and selling price by VND300,000 per tael, listing at VND94.9 million per tael for buying and VND96.5 million per tael for selling.
This morning, 9999 gold rings broke last week’s peak to set a new record, approaching VND97 million per tael.
SJC gold bars also hit a new high, exceeding VND96 million per tael. SJC and PNJ raised their buying prices by VND500,000 per tael and selling prices by VND300,000 per tael compared to the end of last week, listing at VND94.8 million per tael for buying and VND96.1 million per tael for selling.
Bao Tin Minh Chau and Phu Quy Group increased their prices by VND300,000 per tael for both buying and selling, quoting VND94.8 million per tael for buying and VND96.1 million per tael for selling.
Mi Hong Gold Shop raised its buying price by VND900,000 per tael and selling price by VND300,000 per tael, listing at VND95.2 million per tael for buying and VND96.1 million per tael for selling.
On the global market, the spot price of gold on Kitco as of the morning of March 17 (Vietnam time) stood at US$2,987.4 an ounce, up about $4 from last week’s closing price in New York. After conversion, this price is equivalent to VND92.5 million per tael, about VND3.6 million per tael lower than SJC gold and VND4.3 million per tael lower than 9999 gold rings.
Global gold prices, after briefly reaching $3,000 an ounce last week, are now trading just below that level. However, the latest weekly gold survey by Kitco News shows strong optimism, with most experts and retail investors expecting further increases this week despite record-high prices. Mr. Adrian Day, Chairman of Adrian Day Asset Management, noted that central banks continue to buy aggressively, and he expects gold to surpass $3,000 an ounce this week.
