Opening the morning session on March 25, the domestic SJC gold bullion price fluctuated from 68.1 to 69.6 million VND/tael (buy on – sell).
With SJC bullion, Saigon Jewelry Company was listed at 68.4 – 69.1 million VND/tael (buy on – sell), up 200,000 VND/tael compared to yesterday. This price increased by 200,000 VND/tael in both directions.
Doji Jewelry Group listed gold bars at a price of 68.2 – 69.05 million VND/tael (buy on – sell). The price increased by 100,000 VND/tael on the buy side and 200,000 VND/tael on the sell side compared to the end of the previous session.
Phu Quy Company also raised the selling price of gold by 68.2 – 69.05 million VND/tael. This price increased by 350,000 VND/tael on the buy side and 250,000 VND/tael on the sell side compared to the end of the previous session.
On the morning of March 25 (Vietnam time), world gold prices were at 1,961.8 USD/ounce; Converted at current prices, the world gold price is around 54.3 million VND/tael. The difference between world and domestic gold prices is around 15 million VND/tael.
Gold prices rose above one-week highs on Thursday, as the safe-haven metal’s appeal was supported by concerns about rising inflation and instability surrounding the Ukraine war.
At the end of the fifth session, spot gold contracts were up 1% to $1,963.21 an ounce, the highest level since March 14, 2022. Gold futures were up 1.3% at $1,962.20 an ounce.
The US Federal Reserve (Fed) raised interest rates by 25 basis points on March 16; and since then, the agency’s top policymaker has signaled a more aggressive approach to tightening monetary policy this year (in response to rising inflation).
Analysts say that gold carries no interest, it tends to lose its appeal when interest rates rise. However, gold prices were supported by the prolonged conflict in Ukraine and soaring oil prices, as well as inflationary pressures.
On the money market, on March 25, Bank Negara recorded the central exchange rate at 23,151 VND/USD, an increase of 3 VND/USD compared to the previous session. In commercial banks, the USD exchange rate stood at 22,700 – 23,010 VND/USD, down 10 VND compared to the previous session.
On the cryptocurrency market, on March 25 (Vietnam time) the price of Bitcoin was at $44,130, up more than 3% compared to the previous trading session. In the last 24 hours, Bitcoin trading volume reached 30.6 billion USD. Bitcoin prices soared when news emerged that Russia might consider accepting oil and gas payments in this digital currency.
Source: https://tienphong.vn/gia-vang-dong-loat-tang-tren-69-trieu-dong-luong-post1425805.tpo
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