Domestic gold prices hover as markets search for a bottom

During the week of March 30 to April 4, the buying and selling prices of SJC gold bars and the “4-number-9” gold rings at major networks rose only modestly, by about 0.4%. World gold prices, however, increased by 3.6%, around nine times the gain of domestic gold prices.

Domestic gold: SJC bars show small weekly gains

After a 1 million dong per tael increase in both directions in the April 3 session, SJC gold bar prices at most outlets were flat at the morning opening on April 4. By the end of the morning session, DOJI, PNJ, Bao Tin Minh Chau, Bao Tin Manh Hai and Phu Quy kept buying prices at 171 million dong per tael and selling prices at 174.5 million dong per tael, unchanged from the April 3 close.

At SJC, the brand raised the buying price by 500 thousand dong per tael while leaving the selling price unchanged versus the April 3 close. During the morning, SJC quoted buying and selling at 171.5 million and 174.5 million dong per tael.

In the southern region, Mi Hong increased both buying and selling prices for gold bars by 200 thousand dong per tael each side. By the end of the morning session, Mi Hong quoted 172.5 million – 174.5 million dong per tael (buy – sell).

Compared with the week’s close on March 30, SJC gold bars rose by about 200 thousand dong per tael on the buy side and 700 thousand dong per tael on the sell side.

Ring gold: “4-number-9” prices diverge

For the “4-number-9” ring gold, trading prices changed little versus April 3. Only one company increased the buy price by 500 thousand dong per tael during the morning session, while the selling price remained unchanged. Despite limited day-to-day movement, the weekly performance showed clear divergence.

Meanwhile, buying and selling prices for “4-number-9” round jewelry at Bao Tin Minh Chau, Bao Tin Manh Hai and PNJ declined sharply over the week.

Other jewelry segments remain stable, with PNJ declines

The buying and selling price for 9999 round jewelry at Bao Tin Minh Chau and 999.9 round hard-pressed jewelry at Kim Gia Bao were maintained at 169.5 million – 172.5 million dong per tael at opening, with near stability from close to close. Compared with the March 30 week close, PNJ saw buying prices fall by 1.4 million dong per tael and selling prices fall by 0.9 million dong per tael.

Ho Chi Minh City: ring gold falls most

In Ho Chi Minh City, Ngoc Thanh set the buying price for the “4-number-9” ring at 158.5 million – 162.5 million dong per tael for the morning session, with prices stable throughout the session. Versus the week’s close, Ngoc Thanh’s buying and selling prices fell the most, by about 1.5 million dong per tael.

Global gold: futures steady around 4,677.3 USD/oz

On the New York market, gold futures closed yesterday (April 3) at around 4,677.3 USD/oz, unchanged from the April 2 close.

Price gap versus world gold

According to Vietcombank’s exchange rate (including tax and fees), the gap between the price of SJC gold bars and the world price was about 24.33 million dong per tael. For “4-number-9” rings, the gap ranged from roughly 12.33 million to 24.33 million dong per tael.