Saigon Jewelry Company (SJC) announced the price of SJC gold bars at 86.9 - 88.9 million VND per tael (buy - sell), an increase of 400,000 VND per tael in both buying and selling directions compared to the closing price this morning.
Following the trend of world gold prices, domestic gold prices on the afternoon of January 24 increased by 400,000 VND/tael compared to the same morning and approached 89 million VND/tael.
Specifically, at 3:45 a.m., DOJI Gold and Gemstone Group announced the selling price of SJC gold bars at VND86.9 - 88.9 million/tael (buy - sell), an increase of VND400,000/tael in both buying and selling prices compared to the closing price this morning (9:00 a.m.); an increase of VND800,000/tael in both buying and selling prices compared to the closing price yesterday.
Saigon Jewelry Company (SJC) announced the price of SJC gold bars at 86.9 - 88.9 million VND/tael (buy - sell), an increase of 400,000 VND/tael in both buying and selling compared to the closing price this morning; an increase of 800,000 VND/tael in both buying and selling compared to the closing price yesterday.
Similar to SJC gold bars, the price of gold rings announced by Saigon Jewelry Company SJC is at 86.9 - 88.93 million VND/tael (buy - sell), an increase of 700,000 VND/tael for buying and 1.03 million VND/tael for selling compared to early this morning; an increase of 800,000 VND/tael for buying and 1.103 million VND/tael for selling compared to yesterday's closing price.
At Bao Tin Minh Chau Company, the price of gold rings is at 88.6 - 88.9 million VND/tael (buy - sell), an increase of 200,000 VND/tael for buying and an increase of 900,000 VND/tael for selling compared to the closing price this morning (9:00 a.m.).
In the world market, Asian gold prices hit their highest level in nearly 3 months in the session of January 24 and are on track to record their fourth consecutive week of increase due to uncertainties related to US President Donald Trump's tariff plan and calls for interest rate cuts, putting pressure on the USD.
Spot gold rose 0.7% to $2,773.57 an ounce and has gained more than 2% this week.
Earlier in the day, the precious metal rose to $2,777.10 an ounce, its highest since Oct. 31, 2024, when it hit a record $2,790.15 an ounce. U.S. gold futures rose 0.6% to $2,781 an ounce.
The dollar index has fallen more than 1% this week, and is on track for its biggest weekly decline in two months, making gold cheaper for foreign buyers.
The dollar fell after President Trump’s comments went against market expectations, calling for immediate interest rate cuts and failing to provide clarity on tariffs, said Jigar Trivedi, senior analyst at Reliance Securities.
The lack of clarity about his future policies has sent investors flocking to safe-haven assets like gold to hedge against volatility.
Meanwhile, the Bank of Japan raised interest rates to their highest level since the 2008 global financial crisis. Rate decisions from the US Federal Reserve and the European Central Bank are scheduled next week. Traders see little chance of a Fed rate cut next week, according to CME Group's FedWatch tool.
Higher interest rates reduce the appeal of non-yielding bullion. Capital.com financial markets analyst Kyle Rodda said the trend for gold remains bullish, meaning the market is still on track to hit $3,000 an ounce by 2025.
VN (according to VNA)