Gold bullion brands have raised the price by 1.5 million dong per tael, bringing the price to 173 million dong per tael.
In the first roughly 30 minutes of the morning trading session on April 14, Saigon Jewelry Joint Stock Company (SJC) raised bullion prices twice to 170.5 – 173 million dong per tael. At 9:00 a.m., this company quoted bullion at 170.5 – 173 million dong per tael. Other brands quoted similar prices.
The price of plain gold rings at SJC also rose by 1.5 million dong in both directions, to 170.2 – 172.7 million dong per tael. PNJ and Bao Tin Minh Chau quoted this item similarly to SJC, while DOJI bought and sold plain rings about 300,000 dong higher, around 170 – 173 million dong per tael.
Domestic gold rose in line with the uptrend in global prices. This morning, the spot price of world gold rose by nearly 29 USD, to 4,768 USD per ounce.
Precious metal prices rose again after two sessions of declines on expectations of a deal to end the conflict between the United States and Iran. Although the U.S. has blocked the Hormuz Strait, President Donald Trump said Iranian officials have approached his administration seeking to negotiate an agreement.
Mr. Justin Lin, strategist at Global X ETFs Australia, said
gold prices are currently fluctuating with interest-rate expectations rather than acting as a safe haven against geopolitical risk. The analyst said inflation could put pressure on the precious metal in the short term, but could slow macro growth — a factor that often benefits gold.
Converted at Vietcombank's rate, world gold prices are equivalent to 152 million dong. Thus, the domestic price per tael is about 21 million dong higher than the world price, narrowing the premium gap from the record 30 million dong in late March.
Silver coins and bars also rose by 2.9%. Phú Quý quoted this metal at 2.97 - 2.96 million dong per tael, equivalent to 76.6 - 79 million dong per kilogram. Ancarat buys and sells this item around 2.86 - 2.95 million, while Sacombank - SBJ trades at 2.86 - 2.94 million.
