Bao Tin Minh Chau Company raised SJC bullion prices by VND1.8 million for buying and VND1.3 million for selling at 9:30 a.m., compared to the previous day, quoting VND149.4 million per tael for buying and VND150.9 million per tael for selling.
Phu Quy Group also increased its rates by VND2.4 million for buying and VND1.8 million for selling, posting VND148.9 million per tael and VND150.9 million per tael, respectively.
Meanwhile, SJC Company lifted its prices by VND2.3 million for buying and VND2 million for selling from the previous session, quoting VND149.4 million per tael for buying and VND150.9 million per tael for selling.
Prices of 9999 gold rings also soared this morning. Bao Tin Minh Chau raised both buying and selling prices by VND2.6 million, to VND153.6 million per tael and VND156.6 million per tael, respectively. The company’s selling price for 9999 gold rings is currently about VND7 million per tael higher than that of other businesses and VND6.2 million higher than SJC bullion.
Phu Quy Group also increased its 9999 gold ring prices by VND1.8 million for both buying and selling, quoting VND147.9 million per tael and VND150.9 million per tael. SJC raised its rates by VND1.1 million for buying and VND1.3 million for selling, to VND148.2 million per tael and VND150.4 million per tael, respectively.
On the global market, gold prices surged at the close of trading in New York on the night of October 16, reaching US$4,325.3 an ounce, up $118 from the previous session. Spot gold on the Kitco exchange climbed to $4,327.7 an ounce at around 9:30 a.m. (Vietnam time) on October 17. When converted, this equals about VND137.4 million per tael — approximately VND13.5 million lower than domestic SJC bullion prices and VND13–19.2 million lower than 9999 gold ring prices.
Global gold has now gained for the fourth consecutive session as investors continue to flock to the safe-haven asset amid escalating US–China trade tensions, the prolonged US government shutdown, and strong market expectations of further interest rate cuts by the US Federal Reserve (FED). Meanwhile, SPDR Gold Trust — the world’s largest gold-backed ETF — recorded a net purchase of over 12 tons, bringing its total holdings to 1,034.6 tons. Global gold prices have risen by more than 60 percent so far this year.
