From opening until 9:43 a.m., SJC gold bar price was adjusted up to 800 thousand VND/tael, listed at 83-85 million VND/tael (buy – sell).
DOJI this morning also increased the price of gold bars to 900 thousand VND/tael in both directions compared to yesterday’s closing session. At 9:54 a.m., DOJI listed the gold bar price at 82.8-84.8 million VND/tael (buy – sell).
Domestic gold prices increased sharply amid the backdrop world gold price reach new heights.
International gold prices increased sharply again after US producer price index (PPI) data showed weaker results than expected. This boosts hopes that the US Federal Reserve (Fed) will lower interest rates this year.
Besides, analysts still maintain optimism about gold in the coming time, because investors’ need for shelter when geopolitical developments in the Middle East do not cool down.
At 10:08 a.m. on April 12 (Vietnam time), the world spot gold price was at 2,388.4 USD/ounce, an increase of 45.4 USD/ounce compared to last night.
Converted at the current exchange rate at Vietcombank, world gold is currently priced at more than 72.47 million VND/tael (excluding taxes and fees).
Compared to world gold prices, each tael of SJC gold bars is about 12.53 million VND more expensive and the price of SJC gold rings is 4.53 million VND higher.
Regarding the gold market, the Government Office has just issued a notice of the Prime Minister’s conclusions at the meeting on solutions to manage the gold market in the near future.
Accordingly, the Prime Minister directed the State Bank to preside over and coordinate with relevant agencies to focus on strictly implementing the regulations in Decree 24/2012 of the Government on management of gold business activities. Notably, the State Bank and relevant ministries and branches need to continue to inspect and examine; Strictly handle acts of speculation, manipulation, and hoarding to push up gold prices.