At around 9:30 a.m., SJC gold bars saw an increase of VND200,000 in both buying and selling prices compared to yesterday. Phu Nhuan Jewelry Company, Saigon Jewelry Company, and Bao Tin Minh Chau listed SJC gold at VND89.8 million per tael for buying and VND92.1 million per tael for selling.
The price of 9999 gold rings also continued to escalate. Bao Tin Minh Chau listed them at VND90.45 million per tael for buying and VND92.2 million per tael for selling, up VND300,000 and VND200,000, respectively, from yesterday. This is currently the highest price for 9999 gold rings on the market, exceeding the price of SJC gold bars by VND100,000 per tael.
Phu Nhuan Jewelry Company raised its buying price by VND200,000 and its selling price by VND100,000 compared to yesterday, quoting VND90.3 million per tael for buying and VND92 million per tael for selling.
Saigon Jewelry Company increased both buying and selling prices by VND100,000, trading at VND89.7 million per tael for buying and VND91.8 million per tael for selling.
Phu Quy Group adjusted its prices up by VND200,000 for both buying and selling, listing gold at VND90.3 million per tael for buying and VND92 million per tael for selling.
On the global market, gold closed at US$2,933 an ounce in New York on the night of February 19, down $1 from the previous session. On the morning of February 20 (Vietnam time), spot gold on the Kitco exchange rose to $2,938 an ounce. After conversion, this price is equivalent to VND91 million per tael, about VND900,000 to VND1.2 million per tael lower than SJC gold bars and 9999 gold rings.
Global gold prices remain near record highs, supported by rising geopolitical uncertainties related to tariffs, trade negotiations, and ongoing global conflicts. Experts cited by Kitco News noted that uneven inflation has reinforced the US Federal Reserve's stance that interest rates should remain unchanged for now, indirectly supporting gold prices.
