On the morning of November 28, gold trading brands continuously adjusted their buying and selling prices. At 10:30, Saigon Jewelry Company (SJC) raised 800,000 VND on the buying side to 72.5 million VND, and on the selling side increased by 1 million VND to 73.5 million VND.

Similarly, the price of gold bars at DOJI Jewelry Group increased to 72.4 - 73.4 million VND per tael. Phu Nhuan Jewelry Company (PNJ) adjusted gold bar prices to 72.3 - 73.1 million VND. The buying and selling difference was widened by gold houses to 800,000-1,000,000 VND.

Thus, in just two hours after opening, the price of SJC gold bars at businesses increased by 1 million VND per tael, several hundred thousand VND compared to the old peak of 74.4 million VND set in March last year.

Meanwhile, the price of round gold rings this morning moved more modestly than gold bars, but still set a new record.

SJC's 1-5 thread gold rings increased slightly to 60.65 - 61.75 million VND per tael. DOJI's 9999 round gold ring increased to 60.65 - 61.9 million VND. At Bao Tin Minh Chau, Thang Long Dragon Gold plain round rings went up to 61.12 - 62.12 million VND. The trading difference with gold rings was also pushed up by these businesses to 1-1.3 million VND per tael.

Domestic gold prices move in line with the world's, but the domestic upward momentum is stronger. The international spot price of gold is currently 2,015 USD per ounce, converted according to the Vietcombank selling exchange rate (not including taxes and fees), equivalent to 59.3 million VND per tael, 2.5 million VND lower than ring gold and cheaper. 14 million VND compared to domestic gold bars.

This is the third consecutive week that precious metal prices have increased, due to the weakening of the dollar in anticipation that the US Federal Reserve (Fed) has completed raising interest rates. The USD Index is currently at its lowest level in two months, trading around 103.1 points. Domestically, the bank exchange rate is around 24,040 - 24,410 VND, nearly 2.9% higher compared to the beginning of the year.

Quynh Trang