The disparity between SJC gold and the global market widened to VND17.3 million per tael.
Around 9 a.m. in Ho Chi Minh City, SJC Company raised its prices by VND700,000 for both buying and selling compared to yesterday, with rates set at VND85.9 million per tael for buying and VND88.2 million per tael for selling.
At the same time, in Hanoi, Doji Group also raised its prices by VND500,000 for both buying and selling rates compared to yesterday to purchase gold at VND85.7 million per tael and sell it at VND87.2 million per tael for selling.
Meanwhile, the price of 9999 gold rings remained stable this morning compared to the previous day. SJC and PNJ companies listed prices at VND73.3 million per tael for buying and VND75-75.1 million per tael for selling.
On the global gold market, the price of gold traded on the Kitco this morning, May 9 (Vietnam time), stood at US$2,308.9 an ounce, marking an $8 decrease compared to yesterday. This price translates to approximately VND70.9 million per tael, VND17.3 million per tael lower than SJC gold's, and VND4.4 million per tael lower than the price of 9999 gold rings.
The global gold market saw a downturn as the US dollar regained strength. The DXY Index, which measures the dollar's fluctuations against six key currencies, climbed to 105.5 points from the previous 105 points. Year-to-date, the US dollar has appreciated by around 4 percent against the basket of six major currencies. While demand for precious metals has surged significantly worldwide, particularly in Asia, the revival of the US dollar's strength is exerting downward pressure on gold prices.
