started · updated
Gold prices in Vietnam surge as rings reach 155 million VND per tael
Gold prices in Vietnam have experienced significant volatility and upward trends, with gold ring prices reaching levels as high as 155 million VND per tael at certain major brands. SJC gold bars have also seen substantial increases, with some trading sessions recording jumps of up to 2.4 million VND per tael, pushing prices above the 150 million VND mark.
In the domestic market, different brands show varying price points. For instance, DOJI, PNJ, and Bảo Tín Minh Châu have reported high prices for gold rings, sometimes exceeding the price of gold bars. While SJC and other major brands maintain relatively consistent pricing for gold bars, there is notable discrepancy between different retailers, with some banks offering higher buy-sell spreads.
Globally, gold prices have fluctuated around the 4,650 USD per ounce mark. The market is being influenced by several factors, including a weakening US dollar, shifts in US Treasury bond yields, and investor anticipation of US inflation data (PCE). While some sessions saw profit-taking after gold approached the 4,700 USD resistance level, long-term outlooks from major financial institutions remain varied, with some predicting potential rises toward 5,000 USD.
Entities
Bao Tin Minh Chau · Doji · Federal Reserve · ING · PNJ · Phú Quý · SJC · U.S. Department of the Treasury · US Treasury · Vietcombank · Vietnam
Claims
What the coverage asserts, and how many sources carry each claim.
- [○ 1 SOURCE] Standard Chartered lowered its gold price forecast to 4,300 USD per ounce for the next 3 months.
- [DISPUTED] SJC gold bars reached a selling price of 150.6 million VND per tael. anninhthudo.vn · baophutho.vn · giaoducthoidai.vn · htv.vn · vtv.vn
- [● 2 SOURCES] Global spot gold prices exceeded 4,650 USD per ounce. baophutho.vn
- [● 3 SOURCES] The US Treasury announced plans to buy long-term bonds to reduce borrowing costs. anninhthudo.vn · baophutho.vn
- [● 3 SOURCES] Gold prices in Vietnam are higher than global prices by approximately 2.3 to 4.2 million VND per tael. giaoducthoidai.vn
- [● 3 SOURCES] Gold ring prices at some brands reached 155 million VND per tael. anninhthudo.vn