Domestic gold price reverses, highest increase in history

On the morning of April 5, gold prices dropped sharply compared to the end of yesterday's session. However, in the afternoon, gold prices suddenly increased sharply.

Saigon Jewelry Company listed the price of SJC gold bars at 79.5 - 81.5 million VND/tael (buy - sell), an increase of 600,000 VND compared to the opening price of the morning session of the same day.

At DOJI Gold and Gemstone Group Joint Stock Company, SJC gold bars traded around 78.9 - 81.3 million VND/tael (buy - sell). 9999 round gold rings traded around 71.0 - 72.30 million VND/tael (buy - sell), up 500,000 VND/tael compared to the opening price this morning.

At Bao Tin Minh Chau, SJC gold bars are trading at around 79.2 - 81.2 million VND/tael (buy - sell). 9999 round gold rings are trading at around 71.08 - 72.28 million VND/tael (buy - sell), approaching the record price of 72.32 million VND/tael (sell) set yesterday, April 4.

While domestic gold prices increased, this afternoon (Vietnam time), world gold prices were trading around 2,279.15 USD/Ounce, down 0.43% in the past 24 hours, equivalent to a decrease of 9.74 USD/Ounce. Converted according to the exchange rate, 1 tael of gold according to world gold prices is converted to 68,559,209 VND.

This afternoon, the world gold price is about 13 million VND lower than the domestic SJC gold bar price and about 3.5 million VND lower than the 9999 gold ring price.

World gold prices fell in the session on April 5 (Vietnam time) after conquering an all-time high of over 2,300 USD/ounce earlier due to expectations that the US Federal Reserve (Fed) will loosen monetary policy this year.