28th of Tet, gold price increased sharply to 37 million VND/tael

Opening the last working day of the Year of the Monkey, domestic gold prices increased sharply from 70-120 thousand VND/tael, approaching the mark of 37 million VND/tael.

Illustration photo. Source Internet.

SJC Jewelry Company listed the price of gold bars at 36.55 - 36.98 million VND/tael (buy - sell), an increase of 100 thousand VND/tael compared to the end of yesterday's trading session. At the same time, the difference between buying and selling prices has widened to 400 thousand VND/tael.

BTMC Jewelry Company listed the price at 36.78 - 36.86 million VND/tael, an increase of 120 thousand VND/tael. DOJI Jewelry Group listed the price at 36.81 - 36.96 million VND/tael, an increase of 70 thousand VND/tael.

Since last weekend, the price of gold has been increasing continuously with an increase of about 300 thousand VND/tael. It is worth mentioning that right at the time of Tet, records from domestic gold businesses show that the purchasing power of gold bars is quite quiet, mainly small transactions and buying jewelry products as gifts, products with feng shui and spiritual elements.

In the world market, gold prices fell yesterday after two previous sessions of increases, bringing prices to a nearly 10-week peak.

Gold for February delivery fell $4.80, or 0.4%, to settle at $1,210.80 an ounce on the Comex division of the New York Mercantile Exchange.

US President Donald Trump’s decision to officially withdraw the US from the Trans-Pacific Partnership (TPP) trade agreement and impose border tax increases on businesses with factories located abroad; meanwhile, the stable USD index at a low level caused investors to return to the stock market, which is a factor causing gold prices to decline.

In the Asian market, the gold price is currently trading around 1,208 USD/ounce. Converted to 32.9 million VND/tael, so domestic gold is currently about 4.08 million VND/tael higher than the world.

According to Cafe.f