SJC gold hikes, approaching VND85 million per tael

This morning, April 26, witnessed a continued uptrend in domestic gold prices. SJC gold surged to nearly VND85 million per tael, widening the gap with global gold prices to VND13.5 million per tael.


At around 9:30 a.m. in Ho Chi Minh City, SJC Company raised its buying price by VND600,000 per tael and its selling price by VND500,000 per tael compared to yesterday, to list the prices at VND82.6 million per tael for buying and VND84.8 million per tael for selling. Meanwhile, in Hanoi, Doji Group posted buying and selling rates of VND82.3 million per tael and VND84.2 million per tael, respectively, marking a VND500,000 increase in both buying and selling prices.

The prices of 9999 gold rings continued their upward trend. SJC Company traded 9999 gold rings at VND73.3 million per tael for buying and VND75 million per tael for selling, an increase of VND200,000 in both buying and selling compared to yesterday. Meanwhile, Bao Tin Minh Chau Company listed buying and selling rates at VND73.88 million per tael and VND75.48 million per tael, respectively, showing an increase of VND260,000 for buying and VND160,000 for selling.

In the global gold market, the spot gold price on the Kitco exchange this morning of April 26 (Vietnam time) stood at US$2,324.15 an ounce, marking an increase of approximately $10 an ounce compared to yesterday. This price level, when converted, equates to VND71.3 million per tael. Presently, the global gold price sits lower than that of SJC gold by about VND13.5 million per tael and below 9999 gold rings by VND4.1 million per tael.

The global gold prices have bounced back after two sessions of sharp declines, fueled by increased buying pressure as gold approached the strong support level of $2,300 an ounce.

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