Currently, the gap between SJC gold and the world has widened to VND15.3 million per tael.
At around 9:30 a.m. in Ho Chi Minh City, SJC Company listed SJC gold at VND83.5 million per tael for buying and VND85.9 million per tael for selling, maintaining the buying price while increasing the selling price by VND100,000 compared to the previous day.
At the same time, in Hanoi, PNJ Company maintained its prices at the previous day's peak, trading at VND83.5 million per tael for buying and VND85.8 million per tael for selling. Thus, SJC gold topped a new peak at VND85.9 million per tael on the weekend.
The price of 9999 gold rings continued to decline this morning. Specifically, Doji Group traded at VND73.7 million per tael for buying and VND75.3 million per tael for selling, reducing by VND300,000 for buying and VND200,000 for selling compared to yesterday.
Bao Tin Minh Chau Company also lowered both buying and selling prices by VND60,000, listing them at VND73.61 million per tael for buying and VND75.22 million per tael for selling.
Meanwhile, SJC Company kept the same price for 9999 gold rings as yesterday, trading at VND73.1 million per tael for buying and VND74.85 - 74.95 million per tael for selling.
In the global gold market, the weekend's closing price stood at US$2,301.8 an ounce. When converted, this price equals VND70.6 million per tael, lower than SJC gold by about VND15.3 million per tael and below 9999 gold rings by about VND4.2 - 4.6 million per tael.
Global gold prices decreased by approximately 1.8 percent last week. The latest US employment data indicates that the US economy added 175,000 jobs last month, falling short of economists' forecast of 243,000. While the market anticipates the US Federal Reserve (FED) to initiate monetary policy easing this year, the data also heightens risks, prompting investors to switch to alternative assets.
However, experts forecast that the Fed may start cutting interest rates as early as September, possibly even in July. Consequently, the US dollar is anticipated to remain elevated for several more months before encountering downward pressure due to monetary easing policy. This scenario would provide stronger support for gold.
