At around 9:30 a.m., SJC gold bars saw an increase of VND600,000 for buying and VND500,000 for selling compared to the previous day. Saigon Jewelry Company, Phu Nhuan Jewelry Company, and Bao Tin Minh Chau listed prices at VND91.6 million per tael for buying and VND93.3 million per tael for selling.
Phu Quy Group raised its buying price by VND800,000 and selling price by VND500,000, quoting gold at VND91.8 million per tael for buying and VND93.3 million per tael for selling. Mi Hong Jewelry increased its buying price by VND100,000 to VND92.6 million per tael while keeping the selling price unchanged at VND93.5 million per tael.
For 9999 gold rings, Bao Tin Minh Chau raised both buying and selling prices by VND400,000 to buy them at VND92.4 million per tael and sell them at VND93.9 million per tael. Phu Quy increased its prices by VND500,000 for buying and VND400,000 for selling, listing at VND92.3 million per tael for buying and VND93.8 million per tael for selling. SJC raised its buying price by VND600,000 and selling price by VND300,000, setting rates at VND91.6 million per tael for buying and VND93.2 million per tael for selling. PNJ increased its buying price by VND200,000 and selling price by VND300,000, listing the buying rate at VND92.2 million per tael and the selling rate at VND93.7 million per tael.
With this increase, 9999 gold rings reached a new record of VND93.9 million per tael, surpassing the previous peak of VND93.5 million per tael and exceeding SJC gold prices by about VND600,000 per tael.
On the global market, gold closed at $2,915.6 an ounce in New York on March 11, up $27.5 from the previous session. Spot gold on Kitco on the morning of March 12 (Vietnam time) remained at $2,915.6 an ounce, equivalent to about VND90.1 million per tael after conversion—VND3.2 million lower than SJC gold and VND3.8 million lower than 9999 gold rings.
The surge in global gold prices is driven by a weakening US dollar and rising market uncertainty, increasing demand for safe-haven assets. Investors are also closely watching US inflation data, with the Consumer Price Index (CPI) set for release on March 12 (local time) and the Producer Price Index (PPI) on March 13, which could influence future interest rate policies.
