On September 29, domestic gold prices were adjusted up sharply by business units. As of 4:00 p.m., DOJI Group listed the price of SJC gold bars at VND134.5-136.5 million/tael (buy - sell), an increase of VND1.5 million/tael in both directions compared to a day before. The difference between buying and selling prices is at 2 million VND/tael.
Bao Tin Minh Chau listed the price of SJC gold bars at 134.5-136.5 million VND/tael (buy - sell), an increase of 1.5 million VND/tael in both directions compared to a day ago. The difference between buying and selling prices is at 2 million VND/tael.
Phu Quy Gold and Stone Group listed the price of SJC gold bars at 134-136.5 million VND/tael (buy - sell), an increase of 1.5 million VND/tael in both directions compared to a day ago. The difference between buying and selling prices is at 2.5 million VND/tael.
Not only SJC gold bars, the price of plain gold rings has also been adjusted up by business units. DOJI Group listed the price of gold rings at 129.9-132.9 million VND/tael (buy - sell), an increase of 1.1 million VND/tael in both directions compared to a day ago. The difference between buying and selling is 3 million VND/tael.
Bao Tin Minh Chau listed the price of gold rings at 130.6-133.6 million VND/tael (buy - sell), an increase of 1.5 million VND/tael in both directions compared to a day ago. The difference between buying and selling is 3 million VND/tael.
Phu Quy Gold and Stone Group listed the price of gold rings at 129.9-132.9 million VND/tael (buy - sell), an increase of 1.1 million VND/tael in both directions compared to a day ago. The difference between buying and selling is 3 million VND/tael.
Domestic gold prices today increased sharply, largely due to the impact of the world gold price increase. As of 3:45 p.m. on September 29 (Vietnam time), the world gold price was listed at 3,815.4 USD/ounce (up to 56.7 USD). This is the all-time high for world gold.
World gold prices skyrocketed, breaking through the threshold of 3,800 USD/ounce for the first time in the trading session on the morning of September 30, supported by expectations that the US Federal Reserve (FED) will continue to cut interest rates - a factor that weakens the USD along with concerns about the risk of the US government closing down, boosting safe-haven demand.
The buying-selling gap between gold bars and gold rings is currently being pushed to 2 - 3 million VND/tael, much higher than normal. This means that if prices reverse sharply, "surfing" investors can suffer immediate losses just because of this difference.
Experts recommend that those who intend to speculate in the short term need to be especially cautious, only disbursing when carefully calculating the risk and preparing a loss cut plan to avoid capital jams.
Below is the gold price update on the websites of domestic gold trading units on the afternoon of September 29:
See more news related to gold prices HERE...
