At around 10 a.m., SJC gold bars rose by VND700,000 on both buying and selling rates compared to the previous day, quoted at VND92.5 million per tael for buying and VND94.4 million per tael for selling by Saigon Jewelry Company and Phu Nhuan Jewelry Company. Bao Tin Minh Chau increased prices by VND1 million on the buying side and VND900,000 on the selling side, listing at VND93 million per tael for buying and VND94.4 million per tael for selling. Phu Quy Group bought gold at VND92.5 million per tael, up VND500,000 per tael, and sold gold at VND94.2 million per tael, up VND700,000 per tael. Mi Hong Jewelry adjusted prices up by VND800,000 in the buying rate and VND700,000 in the selling rate, setting rates at VND93.5 million per tael for buying and VND94.5 million per tael for selling.
The price of 9999 gold rings also surged. Bao Tin Minh Chau increased rates by VND750,000 on the buying side and VND800,000 on the selling side, reaching VND93.3 million per tael for buying and VND94.9 million per tael for selling. Phu Quy Group purchased gold rings at VND93 million per tael and sold them at VND94.6 million per tael, raising the buying price by VND400,000 and the selling price by VND500,000, respectively. SJC increased prices by VND1 million on both sides, buying gold rings at VND92.8 million per tael and selling them at VND94.3 million per tael. PNJ raised 9999 gold ring prices by VND700,000 on the buying side and VND600,000 on the selling side, quoting VND93 million per tael for buying and VND94.5 million per tael for selling.
This morning’s surge pushed 9999 gold ring prices to a new record of VND94.9 million per tael, exceeding yesterday’s peak of VND94.1 million per tael and standing about VND500,000 higher than SJC gold bars.
On the global market, gold prices closed at $2,933.9 an ounce in New York on March 12, up $18.3 from the previous session. Spot gold on Kitco rose further to $2,944.7 an ounce on the morning of March 13 (Vietnam time), up $11 from New York’s closing price. After conversion, this equals VND91 million per tael, about VND3.4 million lower than SJC gold and VND3.9 million lower than 9999 gold rings.
Global gold prices remain on an upward trend as the weakening US dollar fuels expectations that the US Federal Reserve (FED) may cut interest rates soon due to growing recession concerns. Additionally, the SPDR Gold Trust recorded its second consecutive session of net gold purchases, further supporting prices.
A report from the US Department of Labor showed that the Consumer Price Index (CPI), a key measure of inflation, rose 0.2 percent in February 2025 from the previous month and 2.8 percent year-on-year. These increases were lower than the Dow Jones survey forecast of 0.3 percent month-on-month and 2.9 percent year-on-year.
